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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2012
Component of Income Taxes |
|  | Years ended December 31, |
|  | 2010 |  |  | 2011 |  |  | 2012 |
|  | (In millions) |
Pre-tax income (loss) from continuing operations: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | (.8 | ) |  | $ | 51.6 |  |  | $ | 89.0 |
Non-U.S. subsidiaries |  |  | 79.6 |  |  |  | 409.2 |  |  |  | 212.4 |
Total |  | $ | 78.8 |  |  | $ | 460.8 |  |  | $ | 301.4 |
Expected tax expense, at U.S. federal statutory income tax rate of 35% |  | $ | 27.6 |  |  | $ | 161.3 |  |  | $ | 105.4 |
Non-U.S. tax rates |  |  | (3.8 | ) |  |  | (17.1 | ) |  |  | (11.9 | )
Incremental U.S. tax on earnings of non-U.S. companies |  |  | 18.3 |  |  |  | 28.8 |  |  |  | 1.0 |
German tax attribute adjustments |  |  | (35.2 | ) |  |  | — |  |  |  | — |
U.S. state income taxes, net |  |  | 3.1 |  |  |  | 4.0 |  |  |  | 1.3 |
Adjustment to the reserve for uncertain tax positions, net |  |  | 5.2 |  |  |  | (8.5 | ) |  |  | 4.2 |
Change in valuation allowance |  |  | (.1 | ) |  |  | (.7 | ) |  |  | (1.1 | )
Nondeductible expenses |  |  | 2.5 |  |  |  | 3.7 |  |  |  | 4.3 |
Tax rate changes |  |  | (1.5 | ) |  |  | (.1 | ) |  |  | 1.9 |
French dividend surtax |  |  | — |  |  |  | — |  |  |  | .3 |
Other, net |  |  | (1.6 | ) |  |  | (1.5 | ) |  |  | (.6 | )
Provision for income taxes |  | $ | 14.5 |  |  | $ | 169.9 |  |  | $ | 104.8 |
Components of income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Currently payable (refundable): |  |  |  |  |  |  |  |  |  |  |  |
U.S. federal and state |  | $ | 3.6 |  |  | $ | 8.0 |  |  | $ | .9 |
Non-U.S. |  |  | 16.2 |  |  |  | 78.7 |  |  |  | 42.6 |
Total |  |  | 19.8 |  |  |  | 86.7 |  |  |  | 43.5 |
Deferred income taxes: |  |  |  |  |  |  |  |  |  |  |  |
U.S. federal and state |  |  | 19.0 |  |  |  | 28.6 |  |  |  | 34.5 |
Non-U.S. |  |  | (24.3 | ) |  |  | 54.6 |  |  |  | 26.8 |
Total |  |  | (5.3 | ) |  |  | 83.2 |  |  |  | 61.3 |
Provision for income taxes |  | $ | 14.5 |  |  | $ | 169.9 |  |  | $ | 104.8 |
Comprehensive provision for income taxes (benefit) allocable to: |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations |  | $ | 14.5 |  |  | $ | 169.9 |  |  | $ | 104.8 |
Income from discontinued operations |  |  | 4.0 |  |  |  | 5.0 |  |  |  | 5.4 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |
Marketable securities |  |  | 6.0 |  |  |  | 7.7 |  |  |  | (11.6 | )
Currency translation |  |  | (.2 | ) |  |  | — |  |  |  | 4.9 |
Pension plans |  |  | (.5 | ) |  |  | (6.5 | ) |  |  | (18.3 | )
OPEB plans |  |  | 2.1 |  |  |  | (1.0 | ) |  |  | (.7 | )
Total |  | $ | 25.9 |  |  | $ | 175.1 |  |  | $ | 84.5 |
Components of Net Deferred Tax Liability | The components of the net deferred tax liability at December 31, 2011 and 2012 are summarized below.
|  | December 31, |
|  | 2011 |  |  | 2012 |
|  | Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
|  | (In millions) |
Tax effect of temporary differences related to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inventories |  | $ | 8.4 |  |  | $ | (6.6 | ) |  | $ | 3.6 |  |  | $ | (10.3 | )
Marketable securities |  |  | 2.2 |  |  |  | (142.4 | ) |  |  | — |  |  |  | (164.8 | )
Property and equipment |  |  | — |  |  |  | (89.3 | ) |  |  | — |  |  |  | (104.5 | )
Accrued OPEB costs |  |  | 6.8 |  |  |  | — |  |  |  | 6.9 |  |  |  | — |
Accrued pension costs |  |  | 16.8 |  |  |  | — |  |  |  | 33.3 |  |  |  | — |
Accrued environmental liabilities and other deductible differences |  |  | 38.8 |  |  |  | — |  |  |  | 43.1 |  |  |  | — |
Other taxable differences |  |  | — |  |  |  | (25.3 | ) |  |  | — |  |  |  | (30.3 | )
Investments in subsidiaries and affiliates |  |  | — |  |  |  | (258.2 | ) |  |  | — |  |  |  | (258.3 | )
Tax on unremitted earnings of non-U.S. subsidiaries |  |  | — |  |  |  | (22.0 | ) |  |  | — |  |  |  | (7.6 | )
Tax loss and tax credit carryforwards |  |  | 160.0 |  |  |  | — |  |  |  | 153.0 |  |  |  | — |
Valuation allowance |  |  | (1.3 | ) |  |  | — |  |  |  | (.2 | ) |  |  | — |
Adjusted gross deferred tax assets (liabilities) |  |  | 231.7 |  |  |  | (543.8 | ) |  |  | 239.7 |  |  |  | (575.8 | )
Netting of items by tax jurisdiction |  |  | (80.2 | ) |  |  | 80.2 |  |  |  | (109.8 | ) |  |  | 109.8 |
|  |  | 151.5 |  |  |  | (463.6 | ) |  |  | 129.9 |  |  |  | (466.0 | )
Less net current deferred tax asset (liability) |  |  | 18.8 |  |  |  | (6.4 | ) |  |  | 9.6 |  |  |  | (11.2 | )
Net noncurrent deferred tax asset (liability) |  | $ | 132.7 |  |  | $ | (457.2 | ) |  | $ | 120.3 |  |  | $ | (454.8 | )
Changes in Uncertain Tax Positions |
| Years ended December 31, |
|  | 2010 |  |  | 2011 |  |  | 2012 |
|  | (In millions) |
Unrecognized tax benefits: |  |  |  |  |  |  |  |  |  |  |  |
Amount beginning of year |  | $ | 31.8 |  |  | $ | 37.4 |  |  | $ | 23.0 |
Net increase: |  |  |  |  |  |  |  |  |  |  |  |
Tax positions taken in prior periods |  |  | .3 |  |  |  | .5 |  |  |  | 1.1 |
Tax positions taken in current period |  |  | 5.4 |  |  |  | 6.0 |  |  |  | 11.0 |
Settlements with taxing authorities—cash paid |  |  | — |  |  |  | — |  |  |  | (.1 | )
Lapse due to applicable statute of Limitations |  |  | (.5 | ) |  |  | (20.6 | ) |  |  | (1.8 | )
Changes in currency exchange rates |  |  | .4 |  |  |  | (.3 | ) |  |  | .2 |
Amount at end of year |  | $ | 37.4 |  |  | $ | 23.0 |  |  | $ | 33.4 |

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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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