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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Components of Income Taxes and Comprehensive Provision for Income Taxes Allocation |
| Years ended December 31, |
| 2014 |  |  | 2015 |  |  | 2016 |
| (In millions) |
Pre-tax income (loss): |  |  |  |  |  |  |  |  |  |  |
U.S. | $ | 59.2 |  |  | $ | 5.5 |  |  | $ | 11.5 |
Non-U.S. |  | 74.5 |  |  |  | (36.3 | ) |  |  | 49.7 |
Total | $ | 133.7 |  |  | $ | (30.8 | ) |  | $ | 61.2 |
Expected tax expense (benefit), at U.S. federal statutory income tax rate of 35% | $ | 46.8 |  |  | $ | (10.8 | ) |  | $ | 21.4 |
Non-U.S. tax rates |  | (4.2 | ) |  |  | .5 |  |  |  | (4.3 | )
Incremental net tax (benefit) on earnings and losses of non-U.S. companies |  | (3.7 | ) |  |  | (8.7 | ) |  |  | 2.2 |
Valuation allowance |  | - |  |  |  | 159.0 |  |  |  | (2.2 | )
U.S. - Canada APA |  | - |  |  |  | - |  |  |  | (3.4 | )
Adjustment to the reserve for uncertain tax positions, net |  | (5.1 | ) |  |  | .7 |  |  |  | 2.4 |
Nondeductible expenses |  | 1.9 |  |  |  | 2.1 |  |  |  | 1.5 |
U.S. state income taxes and other, net |  | (1.2 | ) |  |  | - |  |  |  | .3 |
Provision for income taxes | $ | 34.5 |  |  | $ | 142.8 |  |  | $ | 17.9 |
Components of income tax expense: |  |  |  |  |  |  |  |  |  |  |
Currently payable: |  |  |  |  |  |  |  |  |  |  |
U.S. federal and state | $ | 1.9 |  |  | $ | .3 |  |  | $ | - |
Non-U.S. |  | 15.2 |  |  |  | 3.3 |  |  |  | 9.5 |
|  | 17.1 |  |  |  | 3.6 |  |  |  | 9.5 |
Deferred income taxes (benefit): |  |  |  |  |  |  |  |  |  |  |
U.S. federal and state |  | 10.0 |  |  |  | (6.4 | ) |  |  | 4.3 |
Non-U.S. |  | 7.4 |  |  |  | 145.6 |  |  |  | 4.1 |
|  | 17.4 |  |  |  | 139.2 |  |  |  | 8.4 |
Provision for income taxes | $ | 34.5 |  |  | $ | 142.8 |  |  | $ | 17.9 |
| Years ended December 31, |
| 2014 |  |  | 2015 |  |  | 2016 |
| (In millions) |
Comprehensive provision for income taxes (benefit) allocable to: |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 34.5 |  |  | $ | 142.8 |  |  | $ | 17.9 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Currency translation |  | (16.9 | ) |  |  | - |  |  |  | - |
Marketable securities |  | (6.7 | ) |  |  | 1.1 |  |  |  | 1.3 |
Pension plans |  | (30.1 | ) |  |  | 1.5 |  |  |  | (.8 | )
OPEB plans |  | (.4 | ) |  |  | (.1 | ) |  |  | (.2 | )
Interest rate swap |  | - |  |  |  | (1.3 | ) |  |  | .2 |
Total | $ | (19.6 | ) |  | $ | 144.0 |  |  | $ | 18.4 |
Components of Net Deferred Income Taxes | The components of our net deferred income taxes at December 31, 2015 and 2016 are summarized in the following table.
| December 31, |
| 2015 |  |  | 2016 |
| Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
| (In millions) |
Tax effect of temporary differences related to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inventories | $ | 3.2 |  |  | $ | (3.5 | ) |  | $ | 3.7 |  |  | $ | (3.7 | )
Property and equipment |  | - |  |  |  | (59.3 | ) |  |  | - |  |  |  | (58.1 | )
Accrued OPEB costs |  | 2.0 |  |  |  | - |  |  |  | 2.0 |  |  |  | - |
Accrued pension cost |  | 39.4 |  |  |  | - |  |  |  | 48.3 |  |  |  | - |
Currency revaluation on intercompany debt |  | 18.6 |  |  |  | - |  |  |  | 24.0 |  |  |  | - |
Other accrued liabilities and deductible differences |  | 19.4 |  |  |  | - |  |  |  | 12.6 |  |  |  | - |
Other taxable differences |  | - |  |  |  | (.5 | ) |  |  | - |  |  |  | (.4 | )
Tax on unremitted earnings of non-U.S. subsidiaries |  | - |  |  |  | (1.9 | ) |  |  | - |  |  |  | (2.9 | )
Tax loss and tax credit carryforwards |  | 157.4 |  |  |  | - |  |  |  | 145.5 |  |  |  | - |
Valuation allowance |  | (168.9 | ) |  |  | - |  |  |  | (173.4 | ) |  |  | - |
Adjusted gross deferred tax assets (liabilities) |  | 71.1 |  |  |  | (65.2 | ) |  |  | 62.7 |  |  |  | (65.1 | )
Netting by tax jurisdiction |  | (57.1 | ) |  |  | 57.1 |  |  |  | (54.6 | ) |  |  | 54.6 |
Net noncurrent deferred tax asset (liability) | $ | 14.0 |  |  | $ | (8.1 | ) |  | $ | 8.1 |  |  | $ | (10.5 | )
Changes in Amount of Uncertain Tax Positions | The following table shows the changes in the amount of our uncertain tax positions (exclusive of the effect of interest and penalties discussed above) during 2014, 2015 and 2016:
| Years ended December 31, |
| 2014 |  |  | 2015 |  |  | 2016 |
| (In millions) |
Changes in unrecognized tax benefits: |  |  |  |  |  |  |  |  |  |  |
Unrecognized tax benefits at beginning of year | $ | 15.9 |  |  | $ | 10.4 |  |  | $ | 9.7 |
Net increase (decrease): |  |  |  |  |  |  |  |  |  |  |
Tax positions taken in prior periods |  | (5.4 | ) |  |  | (.3 | ) |  |  | (.1 | )
Tax positions taken in current period |  | 1.1 |  |  |  | 1.1 |  |  |  | 2.5 |
Lapse due to applicable statute of limitations |  | - |  |  |  | (.2 | ) |  |  | (.2 | )
Settlements with taxing authorities |  | - |  |  |  | - |  |  |  | (2.3 | )
Change in currency exchange rates |  | (1.2 | ) |  |  | (1.3 | ) |  |  | .3 |
Unrecognized tax benefits at end of year | $ | 10.4 |  |  | $ | 9.7 |  |  | $ | 9.9 |

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