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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
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,
| 2021 |  | 2020 |  | 2019
U.S. | $ | 28.5 |  |  | $ | 29.1 |  |  | $ | 60.0 |
Foreign | 44.6 |  |  | 68.2 |  |  | 36.9 |
Total | $ | 73.1 |  |  | $ | 97.3 |  |  | $ | 96.9 |
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,
| 2021 |  | 2020 |  | 2019
Current income taxes: |  |  |  |  |
U.S. federal | $ | 5.0 |  |  | $ | 7.3 |  |  | $ | 8.1 |
U.S. state | 0.7 |  |  | 1.5 |  |  | 0.8 |
Foreign | 11.9 |  |  | 14.8 |  |  | 9.7 |
| 17.6 |  |  | 23.6 |  |  | 18.6 |
Deferred income taxes: |  |  |  |  |
U.S. federal | 7.5 |  |  | (5.3) |  |  | 2.3 |
U.S. state | (0.2) |  |  | 1.0 |  |  | (1.9) |
Foreign | (34.3) |  |  | (0.9) |  |  | (3.8) |
| (27.0) |  |  | (5.2) |  |  | (3.4) |
Total | $ | (9.4) |  |  | $ | 18.4 |  |  | $ | 15.2 |
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,
| 2021 |  | 2020 |  | 2019
| Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent
Tax provision at U.S. statutory rate | $ | 15.4 |  |  | 21.0 | % |  | $ | 20.4 |  |  | 21.0 | % |  | $ | 20.3 |  |  | 21.0 | %
Foreign income tax rate differential | 2.9 |  |  | 4.0 |  |  | 2.7 |  |  | 2.7 |  |  | 0.6 |  |  | 0.5 |
Income from passthrough entities | 4.2 |  |  | 5.7 |  |  | 2.3 |  |  | 2.3 |  |  | 1.7 |  |  | 1.6 |
Branch earnings | (0.9) |  |  | (1.2) |  |  | — |  |  | — |  |  | — |  |  | — |
Global intangible low tax inclusion | 4.7 |  |  | 6.4 |  |  | 4.8 |  |  | 4.8 |  |  | (0.1) |  |  | (0.1) |
Subpart F income | 1.0 |  |  | 1.3 |  |  | 0.6 |  |  | 0.6 |  |  | 1.0 |  |  | 1.0 |
State income tax, net of federal benefit | 0.5 |  |  | 0.7 |  |  | 1.8 |  |  | 1.8 |  |  | (0.2) |  |  | (0.2) |
Adjustments to valuation allowances | 57.0 |  |  | 78.0 |  |  | (3.9) |  |  | (3.9) |  |  | (3.7) |  |  | (3.8) |
Capital loss carryforward | (86.5) |  |  | (118.3) |  |  | — |  |  | — |  |  | — |  |  | — |
Transition tax | — |  |  | — |  |  | — |  |  | — |  |  | (0.7) |  |  | (0.6) |
Other tax credits | (1.4) |  |  | (2.0) |  |  | (0.8) |  |  | (0.8) |  |  | (2.0) |  |  | (2.1) |
Foreign tax credits | (11.0) |  |  | (15.0) |  |  | (9.9) |  |  | (10.0) |  |  | (3.5) |  |  | (3.6) |
Other foreign operational taxes | 3.0 |  |  | 4.1 |  |  | 3.5 |  |  | 3.5 |  |  | 2.9 |  |  | 3.0 |
Base erosion minimum tax amount | 2.4 |  |  | 3.3 |  |  | — |  |  | — |  |  | — |  |  | — |
Non-deductible compensation | 1.9 |  |  | 2.6 |  |  | 0.4 |  |  | 0.4 |  |  | 1.1 |  |  | 1.1 |
Other, net | (2.6) |  |  | (3.5) |  |  | (3.5) |  |  | (3.5) |  |  | (2.2) |  |  | (2.1) |
Provision for income taxes | $ | (9.4) |  |  | (12.9) | % |  | $ | 18.4 |  |  | 18.9 | % |  | $ | 15.2 |  |  | 15.7 | %
Schedule of Deferred Tax Assets (Liabilities) | Net deferred income tax assets (liabilities) were comprised of the following ($ in millions):
| December 31,
| 2021 |  | 2020
Deferred Tax Assets |  |  |
Receivable allowances | $ | 0.9 |  |  | $ | 0.5 |
Postretirement and other employee benefits | 17.1 |  |  | 21.0 |
Derivatives | — |  |  | 2.5 |
Net operating loss and tax credit carryforwards | 129.6 |  |  | 104.4 |
Capital loss carryforward | 103.1 |  |  | 12.1 |
Accruals and other liabilities | 0.4 |  |  | 0.7 |
Intangibles | — |  |  | 37.6 |
Other | 12.6 |  |  | 4.4 |
| 263.7 |  |  | 183.2 |
Less: Valuation allowance | (232.3) |  |  | (166.6) |
Net deferred income tax assets | $ | 31.4 |  |  | $ | 16.6 |
Deferred Tax Liabilities |  |  |
Net property, plant and equipment | $ | (60.3) |  |  | $ | (55.7) |
Intangibles | (31.3) |  |  | — |
Investment in subsidiaries | (0.6) |  |  | (3.2) |
Derivatives | (0.3) |  |  | — |
Other | (0.1) |  |  | (0.3) |
Net deferred income tax liabilities | $ | (92.6) |  |  | $ | (59.2) |
Total net deferred income tax liabilities | $ | (61.2) |  |  | $ | (42.6) |
Summary of Operating Loss Carryforwards | As of December 31, 2021, the Company had approximately $111.8 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:
| 2021
2022-2041 | $ | 26.7 |
Indefinite | 85.1 |
| $ | 111.8 |
Schedule of Unrecognized Tax Benefits |
| December 31,
| 2021 |  | 2020 |  | 2019
Uncertain tax position balance at beginning of year | $ | 2.0 |  |  | $ | 1.7 |  |  | $ | 1.1 |
Increases related to current year tax positions | 0.3 |  |  | 0.3 |  |  | 0.6 |
Decreases related to expiration of statute of limitations | (0.7) |  |  | — |  |  | — |
Current year acquisition | $ | 8.2 |  |  | $ | — |  |  | $ | — |
Uncertain tax position balance at end of year | $ | 9.8 |  |  | $ | 2.0 |  |  | $ | 1.7 |

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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32840-109319 + Details
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