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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Taxes

For financial reporting purposes, income (loss) before income taxes includes the following components (in millions):

			Years Ended December 31,
			2023						2022						2021
U.S.			$	(256.9)					$	(123.0)					$	(22.2)
Foreign			(224.0)						26.5						(4.3)
Total			$	(480.9)					$	(96.5)					$	(26.5)

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,
			2023						2022						2021
Current income taxes:
U.S. federal			$	(13.5)					$	(12.3)					$	(0.4)
U.S. state			(2.3)						0.3						(0.3)
Foreign			18.8						13.3						1.5
			$	3.0					$	1.3					$	0.8
Deferred income taxes:
U.S. federal			$	(5.7)					$	(13.6)					$	4.7
U.S. state			0.9						(4.0)						(1.1)
Foreign			28.6						(11.3)						(32.6)
			$	23.8					$	(28.9)					$	(29.0)
Total			$	26.8					$	(27.6)					$	(28.2)

Schedule of Reconciliation of Income Tax Rate

A reconciliation of income taxes computed at the U.S. Federal statutory income tax rate to the expense for income taxes is as follows (in millions): 

			Years Ended December 31,
			2023												2022												2021
			Amount						Percent						Amount						Percent						Amount						Percent
Tax provision at U.S. statutory rate			$	(101.0)					21.0		%				$	(20.3)					21.0		%				$	(5.5)					21.0		%
Foreign income tax rate differential			3.3						(0.7)						(4.7)						4.9						0.6						(2.2)
Income from passthrough entities			1.9						(0.4)						0.6						(0.7)						—						—
Branch earnings			1.4						(0.3)						0.2						(0.2)						(0.9)						3.4
Global intangible low tax inclusion			3.5						(0.7)						(1.6)						1.7						6.7						(25.5)
Subpart F income			1.2						(0.3)						0.5						(0.5)						0.7						(2.6)
Foreign derived intangible income			—						—						—						—						—						—
State income tax, net of federal benefit			(0.6)						0.1						(3.1)						3.2						(1.5)						5.7
Adjustments to valuation allowances			50.8						(10.6)						(3.3)						3.4						60.5						(229.6)
Capital loss carryforward			—						—						—						—						(86.5)						328.5
Other tax credits			(3.5)						0.7						(2.6)						2.7						(1.4)						5.4
Foreign tax credits			(7.4)						1.5						1.8						(1.8)						(4.9)						18.6
Other foreign operational taxes			1.8						(0.3)						1.5						(1.6)						1.3						(5.2)
Base erosion minimum tax amount			—						—						(0.6)						0.7						0.3						(1.2)
Remeasurement of deferred taxes due to tax law			(0.3)						0.1						(3.0)						3.1						0.4						(1.5)
Non-deductible compensation expense			0.9						(0.2)						1.4						(1.4)						0.7						(2.6)
Non-deductible acquisition expense			(0.5)						0.1						5.4						(5.6)						—						—
Goodwill impairment			84.5						(17.6)						—						—						—						—
Uncertain tax positions			(4.2)						0.9						1.1						(1.2)						0.3						(1.2)
Other, net			(5.0)						1.1						(0.9)						0.9						1.0						(4.0)
Provision for income taxes			$	26.8					(5.6)		%				$	(27.6)					28.6		%				$	(28.2)					107.0		%

Schedule of Deferred Tax Assets (Liabilities)

Net deferred income tax assets (liabilities) were comprised of the following (in millions):

			December 31,
			2023						2022
Deferred Tax Assets
Receivable allowances			$	1.3					$	1.2
Postretirement and other employee benefits			10.9						12.3
Net operating loss and tax credit carryforwards			305.5						163.2
Capital loss carryforward			47.4						106.5
Accruals and other liabilities			0.8						0.3
Investment in subsidiaries			0.1						8.9
Capitalized research & development			36.8						29.8
Section 163(j) Interest Limitation			9.9						12.4
Right Of Use Liabilities			14.7						10.0
Other			15.0						6.9
			$	442.4					$	351.5
Less: Valuation allowance			(323.0)						(225.5)
Net deferred income tax assets			$	119.4					$	126.0
Deferred Tax Liabilities
Net property, plant and equipment			$	(89.2)					$	(109.1)
Intangibles			(136.7)						(104.1)
Derivatives			(9.0)						(16.9)
Right Of Use Assets			(15.1)						(9.7)
Other			(5.3)						(3.9)
Net deferred income tax liabilities			$	(255.3)					$	(243.7)
Total net deferred income tax liabilities			$	(135.9)					$	(117.7)

Summary of Operating Loss Carryforwards

As of December 31, 2023, the Company had approximately $260.9 million of tax-effected operating loss carryforwards available to further reduce future taxable income in various jurisdictions, with the following expiration dates:

2026-2043			$	183.1
Indefinite			77.8
Total			$	260.9

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,
			2023						2022						2021
Uncertain tax position balance at beginning of year			$	19.9					$	9.8					$	2.0
Increases in current year tax positions			0.6						0.1						0.3
Increases in prior year tax positions			4.4						1.4						—
Decreases due to lapse of statute of limitations			(2.4)						(0.4)						(0.7)
Decreases due to settlements			(2.1)						—						—
Increases from business acquisitions			(0.4)						9.0						8.2
Uncertain tax position balance at end of year			$	20.0					$	19.9					$	9.8

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