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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Taxes | For financial reporting purposes, income before income taxes includes the following components (in millions):
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
U.S. | $ | (88.2) |  |  | $ | 28.5 |  |  | $ | 29.1 |
Foreign | 63.8 |  |  | 44.6 |  |  | 68.2 |
Total | $ | (24.4) |  |  | $ | 73.1 |  |  | $ | 97.3 |
Schedule of Components of Income Tax Expense (Benefit), Continuing Operations | An analysis of the expense (benefit) for income taxes from continuing operations follows (in millions):
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Current income taxes: |  |  |  |  |
U.S. federal | $ | 0.5 |  |  | $ | 5.0 |  |  | $ | 7.3 |
U.S. state | 2.3 |  |  | 0.7 |  |  | 1.5 |
Foreign | 16.3 |  |  | 11.9 |  |  | 14.8 |
| $ | 19.1 |  |  | $ | 17.6 |  |  | $ | 23.6 |
Deferred income taxes: |  |  |  |  |
U.S. federal | $ | (18.4) |  |  | $ | 7.5 |  |  | $ | (5.3) |
U.S. state | (4.9) |  |  | (0.2) |  |  | 1.0 |
Foreign | (8.4) |  |  | (34.3) |  |  | (0.9) |
| $ | (31.7) |  |  | $ | (27.0) |  |  | $ | (5.2) |
Total | $ | (12.6) |  |  | $ | (9.4) |  |  | $ | 18.4 |
Schedule of Reconciliation of Income Tax Rate | A reconciliation of income taxes computed at the U.S. Federal statutory income tax rate to the expense for income taxes is as follows (in millions):
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
| Amount |  | Percent |  | Amount |  | Percent |  | Amount |  | Percent
Tax provision at U.S. statutory rate | $ | (5.1) |  |  | 21.0 | % |  | $ | 15.4 |  |  | 21.0 | % |  | $ | 20.4 |  |  | 21.0 | %
Foreign income tax rate differential | (2.1) |  |  | 8.8 |  |  | 2.9 |  |  | 4.0 |  |  | 2.5 |  |  | 2.6 |
Income from passthrough entities | 3.3 |  |  | (13.3) |  |  | 4.2 |  |  | 5.7 |  |  | 2.3 |  |  | 2.3 |
Branch earnings | 0.2 |  |  | (1.0) |  |  | (0.9) |  |  | (1.2) |  |  | — |  |  | — |
Global intangible low tax inclusion | 0.5 |  |  | (2.1) |  |  | 4.7 |  |  | 6.4 |  |  | 4.8 |  |  | 4.8 |
Subpart F income | 0.7 |  |  | (2.7) |  |  | 1.0 |  |  | 1.3 |  |  | 0.6 |  |  | 0.6 |
Foreign derived intangible income | (0.7) |  |  | 2.9 |  |  | (0.8) |  |  | (1.0) |  |  | (0.3) |  |  | (0.3) |
State income tax, net of federal benefit | (2.3) |  |  | 9.5 |  |  | 0.5 |  |  | 0.7 |  |  | 1.8 |  |  | 1.8 |
Adjustments to valuation allowances | (8.4) |  |  | 34.5 |  |  | 57.0 |  |  | 78.0 |  |  | (3.9) |  |  | (3.9) |
Capital loss carryforward | — |  |  | — |  |  | (86.5) |  |  | (118.3) |  |  | — |  |  | — |
Other tax credits | (2.7) |  |  | 10.7 |  |  | (1.4) |  |  | (2.0) |  |  | (0.8) |  |  | (0.8) |
Foreign tax credits | (2.8) |  |  | 11.2 |  |  | (11.0) |  |  | (15.0) |  |  | (9.9) |  |  | (10.0) |
Other foreign operational taxes | 4.1 |  |  | (16.8) |  |  | 2.6 |  |  | 3.6 |  |  | 2.9 |  |  | 2.9 |
Base erosion minimum tax amount | (2.0) |  |  | 8.1 |  |  | 2.4 |  |  | 3.3 |  |  | — |  |  | — |
Remeasurement of deferred taxes due to tax law | (2.9) |  |  | 12.0 |  |  | 0.1 |  |  | 0.1 |  |  | 0.3 |  |  | 0.3 |
Non-deductible compensation expense | 1.4 |  |  | (5.6) |  |  | 0.6 |  |  | 0.8 |  |  | (0.3) |  |  | (0.3) |
Non-deductible acquisition expense | 5.4 |  |  | (21.9) |  |  | — |  |  | — |  |  | — |  |  | — |
Uncertain tax positions | 1.1 |  |  | (4.6) |  |  | 0.3 |  |  | 0.4 |  |  | 0.2 |  |  | 0.2 |
Other, net | (0.3) |  |  | 0.9 |  |  | (0.5) |  |  | (0.7) |  |  | (2.2) |  |  | (2.3) |
Provision for income taxes | $ | (12.6) |  |  | 51.6 | % |  | $ | (9.4) |  |  | (12.9) | % |  | $ | 18.4 |  |  | 18.9 | %
Schedule of Deferred Tax Assets (Liabilities) | Net deferred income tax assets (liabilities) were comprised of the following (in millions):
| December 31,
| 2022 |  | 2021
Deferred Tax Assets |  |  |
Receivable allowances | $ | 1.2 |  |  | $ | 0.9 |
Postretirement and other employee benefits | 17.8 |  |  | 17.1 |
Net operating loss and tax credit carryforwards | 163.4 |  |  | 129.6 |
Capital loss carryforward | 106.5 |  |  | 103.1 |
Accruals and other liabilities | 2.1 |  |  | 0.4 |
Investment in subsidiaries | 8.9 |  |  | — |
Capitalized research & development | 29.8 |  |  | — |
Other | 26.5 |  |  | 12.6 |
| $ | 356.2 |  |  | $ | 263.7 |
Less: Valuation allowance | (231.9) |  |  | (232.3) |
Net deferred income tax assets | $ | 124.3 |  |  | $ | 31.4 |
Deferred Tax Liabilities |  |  |
Net property, plant and equipment | $ | (131.4) |  |  | $ | (60.3) |
Intangibles | (104.1) |  |  | (31.3) |
Investment in subsidiaries | — |  |  | (0.6) |
Derivatives | (16.9) |  |  | (0.3) |
Other | (9.7) |  |  | (0.1) |
| $ | (262.1) |  |  | $ | (92.6) |
Less: Valuation allowance | — |  |  | — |
Net deferred income tax liabilities | $ | (262.1) |  |  | $ | (92.6) |
Total net deferred income tax liabilities | $ | (137.8) |  |  | $ | (61.2) |
Summary of Operating Loss Carryforwards | As of December 31, 2022, the Company had approximately $116.5 million of tax-effected operating loss carryforwards available to further reduce future taxable income in various jurisdictions, with the following expiration dates:
2023-2042 | $ | 35.5 |
Indefinite | 81.0 |
Total | $ | 116.5 |
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):
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
Uncertain tax position balance at beginning of year | $ | 9.8 |  |  | $ | 2.0 |  |  | $ | 1.7 |
Increases in current year tax positions | 0.1 |  |  | 0.3 |  |  | 0.3 |
Increases in prior year tax positions | 1.4 |  |  | — |  |  | — |
Decreases due to lapse of statute of limitations | (0.4) |  |  | (0.7) |  |  | — |
Increases from business acquisitions | 9.0 |  |  | 8.2 |  |  | — |
Uncertain tax position balance at end of year | $ | 19.9 |  |  | $ | 9.8 |  |  | $ | 2.0 |

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