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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

Income from continuing operations, before income taxes consists of the following:

(In millions)						2022						2021						2020
Domestic						$	(82.4)					$	(22.1)					$	(53.3)
International						146.2						225.6						114.4
Income from continuing operations, before income taxes						$	63.8					$	203.5					$	61.1

Summary of Income Tax Expense

A summary of income tax expense from continuing operations is as follows:

(In millions)						2022						2021						2020
Current income tax expense (benefit):
Domestic						$	(76.2)					$	23.4					$	(42.3)
International						56.4						50.8						31.9
Total current income tax expense (benefit)						$	(19.8)					$	74.2					$	(10.4)
Deferred income tax expense (benefit):
Domestic						$	2.6					$	(26.8)					$	17.2
International						(2.1)						4.5						(18.5)
Total deferred income tax expense (benefit)						$	0.5					$	(22.3)					$	(1.3)
Total income tax expense (benefit)						$	(19.3)					$	51.9					$	(11.7)

Reconciliation Between Effective Income Tax Rate and U.S. Statutory Rate

						2022						2021						2020
U.S. federal income tax rate						21.0		%				21.0		%				21.0		%
International tax rate differential:
Asia						1.1						0.4						1.2
Europe						(12.4)						(1.8)						(9.9)
North and South America						5.9						1.1						2.5
Total international tax rate differential						(5.5)						(0.3)						(6.2)
Tax on GILTI and FDII						2.8						(1.0)						9.8
International tax on certain current and prior year earnings						0.2						2.0						4.4
Non-deductible acquisition related costs						0.9						0.1						4.0
Research and development credit						(5.0)						(1.1)						(4.7)
Capital losses						(88.1)						(0.6)						(29.8)
State and local tax, net						(4.0)						0.2						(12.4)
International permanent items						15.0						0.2						(10.7)
Net impact of uncertain tax positions						12.9						1.0						2.1
Changes in valuation allowances						15.4						2.6						1.2
Other						4.2						1.4						2.2
Effective income tax rate						(30.2)		%				25.5		%				(19.1)		%

Components of Deferred Tax Assets and (Liabilities)

Components of our deferred tax assets (liabilities) as of December 31, 2022 and 2021 were as follows:

(In millions)						2022						2021
Deferred tax assets:
Employment costs						21.0						34.2
Environmental reserves						29.2						30.9
Net operating loss carryforwards						54.3						52.8
Operating leases						11.8						16.1
Research and development						39.2						22.0
Capitalized and carryforward interest						18.2						6.3
Financial Derivatives						16.7						—
Other, net						54.4						43.7
Gross deferred tax assets						$	244.8					$	206.0
Valuation allowances						(35.3)						(19.6)
Total deferred tax assets, net of valuation allowances						$	209.5					$	186.4
Deferred tax liabilities:
Property, plant and equipment						$	(117.4)					$	(47.4)
Goodwill and intangibles						(337.3)						(130.6)
Operating leases						(12.0)						(16.2)
Financial Derivatives						—						(6.7)
Other, net						(11.7)						(12.6)
Total deferred tax liabilities						$	(478.4)					$	(213.5)
Net deferred tax (liabilities) assets						$	(268.9)					$	(27.1)
Consolidated Balance Sheets:
Non-current deferred income tax assets						$	73.6					$	73.5
Non-current deferred income tax liabilities						$	(342.5)					$	(100.6)

Changes in Unrecognized Tax Benefits

						Unrecognized Tax Benefits
(In millions)						2022						2021						2020
Balance as of January 1,						$	19.8					$	9.5					$	11.2
Increases as a result of positions taken during current year						10.6						5.9						0.6
Increases as a result of positions taken for prior years						0.4						0.2						0.6
Balance related to acquired businesses						—						5.4						—
Reductions for tax positions of prior years						(4.3)						—						—
Decreases as a result of lapse of statute of limitations						(0.6)						(1.5)						(0.5)
Decreases relating to settlements with taxing authorities						—						(0.1)						(2.8)
Other, net						(0.5)						0.4						0.4
Balance as of December 31,						$	25.4					$	19.8					$	9.5

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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