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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Taxes | For financial reporting purposes, income before income taxes includes the following components ($ in millions):
| For the Years Ended December 31,
| 2020 |  | 2019 |  | 2018
United States | $ | 29.1 |  |  | $ | 60.0 |  |  | $ | 55.8 |
Foreign | 68.2 |  |  | 36.9 |  |  | 61.0 |
Total | $ | 97.3 |  |  | $ | 96.9 |  |  | $ | 116.8 |
Schedule of Components of Income Tax Expense (Benefit), Continuing Operations | An analysis of the provision (benefit) for income taxes from continuing operations follows ($ in millions):
| For the Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Current income taxes: |  |  |  |  |
U.S. federal | $ | 7.3 |  |  | $ | 8.1 |  |  | $ | (9.2) |
U.S. state | 1.5 |  |  | 0.8 |  |  | 0.8 |
Foreign | 14.8 |  |  | 9.7 |  |  | 11.6 |
| 23.6 |  |  | 18.6 |  |  | 3.2 |
Deferred income taxes: |  |  |  |  |
U.S. federal | (5.3) |  |  | 2.3 |  |  | 3.6 |
U.S. state | 1.0 |  |  | (1.9) |  |  | 1.4 |
Foreign | (0.9) |  |  | (3.8) |  |  | 2.5 |
| (5.2) |  |  | (3.4) |  |  | 7.5 |
Total | $ | 18.4 |  |  | $ | 15.2 |  |  | $ | 10.7 |
Schedule of Reconciliation of Income Tax Rate | A reconciliation of income taxes computed at the U.S. Federal statutory income tax rate to the provision for income taxes is as follows ($ in millions):
| For the Years Ended December 31,
| 2020 |  | 2019 |  | 2018
| Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent
Tax provision at U.S. statutory rate | $ | 20.4 |  |  | 21.0 | % |  | $ | 20.3 |  |  | 21.0 | % |  | $ | 24.5 |  |  | 21.0 | %
Foreign income tax rate differential | 2.7 |  |  | 2.7 |  |  | 0.6 |  |  | 0.5 |  |  | 2.5 |  |  | 2.2 |
Income from passthrough entities | 2.3 |  |  | 2.3 |  |  | 1.7 |  |  | 1.6 |  |  | 0.7 |  |  | 0.6 |
Global intangible low tax inclusion | 4.8 |  |  | 4.8 |  |  | (0.1) |  |  | (0.1) |  |  | 7.0 |  |  | 6.0 |
Foreign derived intangible income | (0.3) |  |  | (0.3) |  |  | (0.2) |  |  | (0.2) |  |  | (4.2) |  |  | (3.6) |
State income tax, net of federal benefit | 1.8 |  |  | 1.8 |  |  | (0.2) |  |  | (0.2) |  |  | 1.7 |  |  | 1.5 |
Adjustments to valuation allowances | (3.9) |  |  | (3.9) |  |  | (3.7) |  |  | (3.8) |  |  | (2.5) |  |  | (2.1) |
Transition tax | — |  |  | — |  |  | (0.7) |  |  | (0.6) |  |  | (11.6) |  |  | (10.0) |
Other tax credits | (0.8) |  |  | (0.8) |  |  | (2.0) |  |  | (2.1) |  |  | (2.6) |  |  | (2.3) |
Foreign tax credits | (9.9) |  |  | (10.0) |  |  | (3.5) |  |  | (3.6) |  |  | (5.1) |  |  | (4.4) |
Other foreign operational taxes | 3.5 |  |  | 3.5 |  |  | 2.9 |  |  | 3.0 |  |  | 3.1 |  |  | 2.7 |
Remeasurement of deferred taxes due to tax law | 0.4 |  |  | 0.4 |  |  | 0.9 |  |  | 1.0 |  |  | (1.8) |  |  | (1.5) |
Non-deductible compensation | 0.4 |  |  | 0.4 |  |  | 1.1 |  |  | 1.1 |  |  | 0.4 |  |  | 0.3 |
Other, net | (3.0) |  |  | (3.0) |  |  | (1.9) |  |  | (1.9) |  |  | (1.4) |  |  | (1.2) |
Provision for income taxes | $ | 18.4 |  |  | 18.9 | % |  | $ | 15.2 |  |  | 15.7 | % |  | $ | 10.7 |  |  | 9.2 | %
Schedule of Deferred Tax Assets (Liabilities) | Net deferred income tax assets (liabilities) were comprised of the following ($ in millions):
| December 31,
| 2020 |  | 2019
Deferred Tax Assets |  |  |
Receivable allowances | $ | 0.5 |  |  | $ | 0.4 |
Postretirement and other employee benefits | 21.0 |  |  | 19.0 |
Derivatives | 2.5 |  |  | 0.1 |
Net operating loss and tax credit carryforwards | 104.4 |  |  | 93.7 |
Capital loss carryforward | 12.1 |  |  | 6.9 |
Accruals and other liabilities | 0.7 |  |  | — |
Intangibles | 37.6 |  |  | 45.7 |
Other | 4.4 |  |  | 3.9 |
| 183.2 |  |  | 169.7 |
Less: Valuation allowance | (166.6) |  |  | (157.4) |
Net deferred income tax assets | $ | 16.6 |  |  | $ | 12.3 |
Deferred Tax Liabilities |  |  |
Net property, plant and equipment | $ | (55.7) |  |  | $ | (52.6) |
Accruals and other liabilities | — |  |  | (0.6) |
Investment in subsidiaries | (3.2) |  |  | (3.5) |
Other | (0.3) |  |  | (0.1) |
Net deferred income tax liabilities | $ | (59.2) |  |  | $ | (56.8) |
Total net deferred income tax liabilities | $ | (42.6) |  |  | $ | (44.5) |
Summary of Operating Loss Carryforwards | As of December 31, 2020, the Company had approximately $99.5 million of tax-effected operating loss carryforwards available to further reduce future taxable income in various jurisdictions which will expire on various dates as follows:
| 2020
2021-2024 | $ | 0.1 |
2025-2037 | 19.6 |
Indefinite | 79.8 |
| $ | 99.5 |
Schedule of Unrecognized Tax Benefits | The following table summarizes the activity related to the Company's unrecognized tax benefits related to income taxes ($ in millions):
| December 31,
| 2020 |  | 2019 |  | 2018
Uncertain tax position balance at beginning of year | $ | 1.7 |  |  | $ | 1.1 |  |  | $ | 1.0 |
Increases related to current year tax positions | 0.3 |  |  | 0.6 |  |  | 0.6 |
Decreases related to prior year tax positions | — |  |  | — |  |  | (0.2) |
Decreases related to expiration of statute of limitations | — |  |  | — |  |  | (0.3) |
Uncertain tax position balance at end of year | $ | 2.0 |  |  | $ | 1.7 |  |  | $ | 1.1 |
Summary of Income Tax Examinations |
Jurisdiction | Fiscal Years
Belgium | 2019-2020
Brazil | 2015-2020
Canada | 2016-2020
China | 2018-2020
France | 2018-2020
Germany | 2016-2020
Hong Kong | 2014-2020
Luxembourg | 2015-2020
Philippines | 2017-2020
Poland | 2015-2020
Spain | 2016-2020
United Kingdom | 2018-2020
United States |
Federal | 2016-2020
State | 2014-2020

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