XML 54 R43.htm IDEA: XBRL DOCUMENT v2.4.0.6

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Roll-forward of unrecognized tax benefits and associated accrued interest and penalties

(in millions)		Interest and Penalties				Unrecognized Tax Benefits				Total
Opening balance at January 1, 2010		$	3.8			$	15.6			$	19.4
Additions related to tax positions taken in the current period			0.0				0.0				0.0
Additions for tax positions of prior periods			0.1				2.0				2.1
Settlements			(3.6	)			(9.3	)			(12.9	)
Closing balance at December 31, 2010			0.3				8.3				8.6
Current			(0.2	)			(2.0	)			(2.2	)
Non-current		$	0.1			$	6.3			$	6.4
Opening balance at January 1, 2011		$	0.3			$	8.3			$	8.6
Additions related to tax positions taken in the current period			0.0				5.2				5.2
Additions for tax positions of prior periods			0.2				0.5				0.7
Reductions for tax positions of prior periods			(0.1	)			(1.8	)			(1.9	)
Closing balance at December 31, 2011			0.4				12.2				12.6
Current			(0.3	)			(2.9	)			(3.2	)
Non-current		$	0.1			$	9.3			$	9.4
Opening balance at January 1, 2012		$	0.4			$	12.2			$	12.6
Additions related to tax positions taken in the current period			0.0				0.2				0.2
Additions for tax positions of prior periods			0.2				0.0				0.2
Reductions due to lapsed statutes of limitations			0.0				(0.2	)			(0.2	)
Closing balance at December 31, 2012			0.6				12.2				12.8
Current			(0.3	)			(2.7	)			(3.0	)
Non-current		$	0.3			$	9.5			$	9.8

Sources of income before income taxes

(in millions)		2012				2011				2010
Domestic		$	5.6			$	(42.6	)		$	11.1
Foreign			89.6				95.2				59.6
		$	95.2			$	52.6			$	70.7

Components of income tax charges

(in millions)		2012				2011				2010
Current:
Federal		$	2.9			$	5.4			$	7.2
Foreign			11.8				13.6				4.0
			14.7				19.0				11.2
Deferred:
Federal			12.3				(12.8	)			(9.0	)
Foreign			(0.1	)			(2.5	)			(5.2	)
			12.2				(15.3	)			(14.2	)
		$	26.9			$	3.7			$	(3.0	)

Factors effecting effective tax rate from the U.S. federal statutory rate

		2012				2011				2010
Statutory rate			35.0	%			35.0	%			35.0	%
Foreign income inclusions			48.9				20.5				7.1
Impairment of Octane Additives segment goodwill			0.5				1.3				1.1
Foreign tax credits			(38.3	)			(25.8	)			(7.1	)
Pension (credit)/charge			(0.3	)			(8.9	)			0.5
Foreign tax rate differential			(16.4	)			(19.1	)			(13.5	)
Permanent tax adjustments			(0.2	)			0.3				(2.1	)
Amortization			0.5				0.7				1.7
Tax (credit)/charge from previous years			(0.6	)			(1.9	)			(2.9	)
Net charge/(credit) from unrecognized tax benefits			0.3				7.7				(15.3	)
OFFP/FCPA settlement accrual			0.0				0.0				(5.6	)
United Kingdom income tax rate reduction			(0.6	)			(4.8	)			(1.6	)
Other items and adjustments, net			(0.5	)			2.0				(1.5	)
			28.3	%			7.0	%			(4.2	)%

Details of deferred tax assets and liabilities

(in millions)		2012				2011
Deferred tax assets:
Foreign tax credits		$	5.5			$	19.6
Accrued expenses			4.6				8.8
Stock options			5.5				4.0
Excess of tax over book basis in property, plant and equipment			1.1				1.2
Net operating loss carry forwards			0.3				0.8
Pension liabilities			9.2				0.0
Other			4.7				5.5
Valuation allowance			0.0				(7.5	)
Deferred tax liabilities:
Goodwill amortization			(6.9	)			(6.5	)
Pension asset			0.0				(5.4	)
Other intangible assets			(0.9	)			(1.5	)
Other			(3.2	)			(2.2	)
Total net deferred tax asset		$	19.9			$	16.8
Deferred taxes are included within the consolidated balance sheets as follows:
Deferred tax assets		$	23.7			$	19.7
Deferred tax liabilities			(3.8	)			(2.9	)
		$	19.9			$	16.8
Current portion of deferred tax assets		$	11.0			$	0.0
Deferred tax assets, net of current portion			12.7				19.7
Current portion of deferred tax liabilities			(0.2	)			0.0
Deferred tax liabilities, net of current portion			(3.6	)			(2.9	)
		$	19.9			$	16.8

Details of the deferred tax asset valuation allowance

(in millions)		2012				2011				2010
At January 1		$	(7.5	)		$	(10.8	)		$	(4.4	)
Change in foreign tax credits			7.5				3.3				(6.4	)
At December 31		$	0.0			$	(7.5	)		$	(10.8	)

X

- Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 55

-Paragraph 217

-URI http://asc.fasb.org/extlink&oid=21917533&loc=d3e36027-109320



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15A

-URI http://asc.fasb.org/extlink&oid=6907707&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 26

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Valuation Allowance

-URI http://asc.fasb.org/extlink&oid=6528051



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319



Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43

-Subparagraph c

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Name:	us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration