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Income Taxes (Tables)

12 Months Ended

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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