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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Components of Income (Loss) Before Income Taxes | The components of income (loss) before income taxes for the years ended December 31, (in millions):
|  | 2019 |  | 2018 |  | 2017
Domestic |  | $ | (1,248.7 | ) |  | $ | (8,099.1 | ) |  | $ | (104.9 | )
Foreign |  | 397.1 |  |  | 107.4 |  |  | 1,024.2 |
Total |  | $ | (851.6 | ) |  | $ | (7,991.7 | ) |  | $ | 919.3 |
Schedule of Provision for Income Taxes | The provision for income taxes consists of the following for the years ended December 31, (in millions):
| 2019 |  | 2018 |  | 2017
Current: |  |  |  |  |
Federal | $ | 8.6 |  |  | $ | 121.4 |  |  | $ | 272.1 |
State | 10.6 |  |  | 31.0 |  |  | 21.4 |
Foreign | 42.0 |  |  | 203.5 |  |  | 168.5 |
Total current | 61.2 |  |  | 355.9 |  |  | 462.0 |
Deferred: |  |  |  |  |
Federal | (354.5 | ) |  | (1,035.3 | ) |  | (1,733.3 | )
State | (63.2 | ) |  | (283.3 | ) |  | 28.5 |
Foreign | (650.2 | ) |  | (266.7 | ) |  | (77.0 | )
Total deferred | (1,067.9 | ) |  | (1,585.3 | ) |  | (1,781.8 | )
Total income tax benefit | (1,006.7 | ) |  | (1,229.4 | ) |  | (1,319.8 | )
Total income tax provision - discontinued operations | 31.0 |  |  | 129.5 |  |  | 195.2 |
Total income tax benefit - continuing operations | $ | (1,037.7 | ) |  | $ | (1,358.9 | ) |  | $ | (1,515.0 | )
Reconciliation of U.S. Statutory Rate to Effective Income Tax Rate on Continuing Basis | A reconciliation of the U.S. statutory rate to the effective income tax rate on a continuing basis is as follows for the years ended December 31:
| 2019 |  | 2018 |  | 2017
Statutory rate | 21.0 | % |  | 21.0 | % |  | 35.0 | %
State income taxes, net of federal income tax effect | 3.8 |  |  | 2.4 |  |  | 1.1 |
U.S. foreign inclusions and foreign tax credit | (1.6 | ) |  | 2.1 |  |  | 2.0 |
Foreign rate differential | 4.9 |  |  | 0.4 |  |  | (18.5 | )
Change in uncertain tax positions | 5.9 |  |  | 0.2 |  |  | (3.0 | )
Change in valuation allowance reserve | (5.9 | ) |  | 0.8 |  |  | (4.6 | )
Foreign statutory tax rate change | — |  |  | — |  |  | (1.7 | )
Impairment | (3.3 | ) |  | (9.7 | ) |  | 1.8 |
Sale of businesses | — |  |  | — |  |  | (8.1 | )
Capital loss | 25.4 |  |  | — |  |  | — |
Reversal of outside basis difference | 0.4 |  |  | — |  |  | (6.7 | )
U.S. Tax Reform, impact of change in tax rate and other | — |  |  | — |  |  | (174.4 | )
U.S. Tax Reform, federal income tax on mandatory deemed repatriation | — |  |  | 0.2 |  |  | 19.3 |
Non-deductible compensation | (1.6 | ) |  | (0.1 | ) |  | 0.9 |
Return to provision | 2.2 |  |  | (0.1 | ) |  | (9.2 | )
Other taxes | 1.6 |  |  | 0.1 |  |  | 2.5 |
Outbound transfer of U.S. assets (1) | 68.3 |  |  | — |  |  | — |
Other | 0.8 |  |  | (0.3 | ) |  | (1.2 | )
Effective rate | 121.9 | % |  | 17.0 | % |  | (164.8 | )%
Schedule of Components of Net Deferred Tax Assets | The net deferred tax amounts have been classified in the balance sheet at December 31, (in millions):
|  | 2019 |  | 2018
Noncurrent deferred tax assets |  | $ | 775.5 |  |  | $ | 183.3 |
Noncurrent deferred tax liabilities |  | (624.9 | ) |  | (1,090.0 | )
Total |  | $ | 150.6 |  |  | $ | (906.7 | )
Deferred tax assets (liabilities) consist of the following at December 31, (in millions):
| 2019 |  | 2018
Deferred tax assets: |  |  |
Accruals | $ | 124.4 |  |  | $ | 139.1 |
Inventory | 28.8 |  |  | 32.5 |
Pension and other postretirement benefits | 78.5 |  |  | 81.7 |
Net operating losses | 341.6 |  |  | 339.9 |
Foreign tax credits | 155.9 |  |  | 133.3 |
Capital loss carryforward | 211.8 |  |  | 15.2 |
Operating lease liabilities | 172.3 |  |  | — |
Other | 157.2 |  |  | 132.6 |
Total gross deferred tax assets | 1,270.5 |  |  | 874.3 |
Less: valuation allowance | (270.5 | ) |  | (195.0 | )
Net deferred tax assets after valuation allowance | 1,000.0 |  |  | 679.3 |
Deferred tax liabilities: |  |  |
Accelerated depreciation | (79.7 | ) |  | (92.2 | )
Amortizable intangibles | (517.7 | ) |  | (1,419.2 | )
Outside basis differences | (40.6 | ) |  | (25.7 | )
Operating lease assets | (158.1 | ) |  | — |
Other | (53.3 | ) |  | (48.9 | )
Total gross deferred tax liabilities | (849.4 | ) |  | (1,586.0 | )
Net deferred tax assets (liabilities) | $ | 150.6 |  |  | $ | (906.7 | )
Summary of Changes in Gross Unrecognized Tax Benefits | The following table summarizes the changes in gross unrecognized tax benefits periods indicated are as follows (in millions):
| 2019 |  | 2018 |  | 2017
Unrecognized tax benefits, January 1, | $ | 463.0 |  |  | $ | 385.3 |  |  | $ | 379.0 |
Increases (decreases): |  |  |  |  |
Increases in tax positions for prior years | 35.3 |  |  | 35.9 |  |  | 26.0 |
Decreases in tax positions for prior years | (30.9 | ) |  | (20.6 | ) |  | (12.3 | )
Increase in tax positions for the current period | 83.5 |  |  | 115.0 |  |  | 34.5 |
Purchase accounting adjustments (See Footnote 1 and Footnote 8) | (8.8 | ) |  | — |  |  | — |
Currency translation adjustments | 0.4 |  |  | — |  |  | — |
Settlements with taxing authorities | (1.7 | ) |  | (6.2 | ) |  | — |
Lapse of statute of limitations | (66.4 | ) |  | (46.4 | ) |  | (41.9 | )
Unrecognized tax benefits, December 31, | $ | 474.4 |  |  | $ | 463.0 |  |  | $ | 385.3 |

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