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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Components of Income Before Income Taxes from Operations | The components of income (loss) before income taxes were as follows:
|  | Year Ended December 31, |  |  |  |
(in millions) |  | 2019 |  | 2018 |  | 2017
United States |  | $ | (109.8) |  |  | $ | (279.6) |  |  | $ | (145.0) |
Foreign |  | 455.2 |  |  | (678.8) |  |  | (1,458.5) |
|  | $ | 345.4 |  |  | $ | (958.4) |  |  | $ | (1,603.5) |
Components of the Provision for Income Taxes from Operations | The components of the provision (benefit) for income taxes from operations were as follows:
|  | Year Ended December 31, |  |  |  |
(in millions) |  | 2019 |  | 2018 |  | 2017
Current: |  |  |  |  |  |
U.S. federal |  | $ | (11.2) |  |  | $ | 9.8 |  |  | $ | 1.7 |
U.S. state |  | 1.5 |  |  | 3.2 |  |  | 5.9 |
Foreign |  | 129.4 |  |  | 101.5 |  |  | 83.0 |
Total |  | $ | 119.7 |  |  | $ | 114.5 |  |  | $ | 90.6 |
Deferred: |  |  |  |  |  |
U.S. federal |  | $ | (2.0) |  |  | $ | 46.4 |  |  | $ | 2.8 |
U.S. state |  | 1.8 |  |  | (3.0) |  |  | 11.4 |
Foreign |  | (37.2) |  |  | (105.4) |  |  | (158.0) |
Total |  | $ | (37.4) |  |  | $ | (62.0) |  |  | $ | (143.8) |
|  | $ | 82.3 |  |  | $ | 52.5 |  |  | $ | (53.2) |
Reconciliation of the U.S. Federal Statutory Tax Rate to the Effective Rate | The reconciliation of the U.S. federal statutory tax rate to the effective rate were as follows:
|  | Year Ended December 31, |  |  |  |
|  | 2019 |  | 2018 |  | 2017
Statutory U.S. federal income tax rate |  | 21.0 | % |  | 21.0 | % |  | 35.0 | %
Effect of: |  |  |  |  |  |
State income taxes, net of federal benefit |  | 0.7 |  |  | (0.2) |  |  | (0.1) |
Federal benefit of R&D and foreign tax credits |  | (2.0) |  |  | 1.0 |  |  | 2.8 |
Tax effect of international operations |  | 0.4 |  |  | 1.8 |  |  | 3.6 |
Global Intangible Low Taxed Income (GILTI) |  | 3.7 |  |  | (1.1) |  |  | — |
Net effect of tax audit activity |  | 0.4 |  |  | (1.0) |  |  | (0.6) |
Tax effect of enacted statutory rate changes on Non-U.S. jurisdictions |  | 0.1 |  |  | 0.3 |  |  | (0.2) |
Federal tax on unremitted earnings of certain foreign subsidiaries |  | 0.1 |  |  | (0.1) |  |  | — |
Valuation allowance adjustments |  | (1.3) |  |  | (5.7) |  |  | (0.7) |
U.S. tax reform - net impacts |  | — |  |  | 0.4 |  |  | (1.2) |
Tax effect of impairment of goodwill and intangibles |  | (0.2) |  |  | (22.1) |  |  | (37.4) |
Other |  | 0.9 |  |  | 0.2 |  |  | 2.1 |
Effective income tax rate on operations |  | 23.8 | % |  | (5.5 | %) |  | 3.3 | %
Tax Effect of Significant Temporary Differences Giving Rise to Deferred Tax Assets and Liabilities | The tax effect of significant temporary differences giving rise to deferred tax assets and liabilities were as follows:
|  | Year Ended December 31, |  |  |  |  |  |
|  | 2019 |  |  |  | 2018 |  |
(in millions) |  | Deferred Tax Asset |  | Deferred Tax Liability |  | Deferred Tax Asset |  | Deferred Tax Liability
Commission and bonus accrual |  | $ | 10.6 |  |  | $ | — |  |  | $ | 4.5 |  |  | $ | — |
Employee benefit accruals |  | 55.9 |  |  | — |  |  | 56.8 |  |  | — |
Inventory |  | 15.3 |  |  | — |  |  | 13.9 |  |  | — |
Identifiable intangible assets |  | — |  |  | 630.7 |  |  | — |  |  | 686.0 |
Insurance premium accruals |  | 3.0 |  |  | — |  |  | 3.2 |  |  | — |
Miscellaneous accruals |  | 21.3 |  |  | — |  |  | 19.2 |  |  | — |
Other |  | — |  |  | 2.2 |  |  | 3.0 |  |  | — |
Unrealized losses included in AOCI |  | 46.0 |  |  | — |  |  | 24.4 |  |  | — |
Property, plant and equipment |  | — |  |  | 49.6 |  |  | — |  |  | 56.1 |
Lease right-of-use asset |  | — |  |  | 38.8 |  |  | — |  |  | — |
Lease right-of-use liability |  | 39.7 |  |  | — |  |  | — |  |  | — |
Product warranty accruals |  | 1.5 |  |  | — |  |  | 1.5 |  |  | — |
Foreign tax credit and R&D carryforward |  | 73.5 |  |  | — |  |  | 78.8 |  |  | — |
Restructuring and other cost accruals |  | 3.8 |  |  | — |  |  | 3.1 |  |  | — |
Sales and marketing accrual |  | 6.2 |  |  | — |  |  | 5.3 |  |  | — |
Taxes on unremitted earnings of foreign subsidiaries |  | — |  |  | 3.5 |  |  | — |  |  | 3.2 |
Tax loss carryforwards and other tax attributes |  | 268.6 |  |  | — |  |  | 285.8 |  |  | — |
Subtotal |  | $ | 545.4 |  |  | $ | 724.8 |  |  | $ | 499.5 |  |  | $ | 745.3 |
Valuation allowances |  | (288.0) |  |  | — |  |  | (288.4) |  |  | — |
Total |  | $ | 257.4 |  |  | $ | 724.8 |  |  | $ | 211.1 |  |  | $ | 745.3 |
Deferred Tax Assets and Liabilities Included in the Consolidated Balance Sheet | Deferred tax assets and liabilities are included in the following Consolidated Balance Sheets line items at December 31 were as follows:
(in millions) |  | 2019 |  | 2018
Assets |  |  |  |
Other noncurrent assets, net |  | $ | 12.2 |  |  | $ | 18.6 |
Liabilities |  |  |  |
Deferred income taxes |  | $ | 479.6 |  |  | $ | 552.8 |
Unrecognized Tax Benefits | The activity recorded for unrecognized tax benefits were as follows:
(in millions) |  | 2019 |  | 2018 |  | 2017
Unrecognized tax benefits at beginning of period |  | $ | 27.8 |  |  | $ | 21.0 |  |  | $ | 10.8 |
Gross change for prior period positions |  | (0.4) |  |  | 7.5 |  |  | 8.6 |
Gross change for current year positions |  | 0.3 |  |  | 0.3 |  |  | 0.3 |
Decrease due to settlements and payments |  | (3.9) |  |  | (0.3) |  |  | — |
Decrease due to statute expirations |  | — |  |  | (0.1) |  |  | — |
Increase due to effect of foreign currency translation |  | — |  |  | — |  |  | 1.3 |
Decrease due to effect from foreign currency translation |  | (0.3) |  |  | (0.6) |  |  | — |
Unrecognized tax benefits at end of period |  | $ | 23.5 |  |  | $ | 27.8 |  |  | $ | 21.0 |

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