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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2013
Component of Income Taxes Expenses |
| Years ended December 31, |
| 2011 |  |  | 2012 |  |  | 2013 |
| (In millions) |
Pre-tax income (loss) from continuing operations: |  |  |  |  |  |  |  |  |  |  |
United States | $ | 51.6 |  |  | $ | 89.0 |  |  | $ | (70.4 | )
Non-U.S. subsidiaries |  | 409.2 |  |  |  | 212.4 |  |  |  | (147.5 | )
Total | $ | 460.8 |  |  | $ | 301.4 |  |  | $ | (217.9 | )
Expected tax expense (benefit) at U.S. federal statutory income tax rate of 35% | $ | 161.3 |  |  | $ | 105.4 |  |  | $ | (76.3 | )
Non-U.S. tax rates |  | (17.1 | ) |  |  | (11.9 | ) |  |  | 4.3 |
Incremental U.S. tax on earnings of non-U.S. and non-tax group companies |  | 28.8 |  |  |  | 1.0 |  |  |  | (18.5 | )
U.S. state income taxes, net |  | 4.0 |  |  |  | 1.3 |  |  |  | (3.4 | )
Adjustment to the reserve for uncertain tax positions, net |  | (8.5 | ) |  |  | 4.2 |  |  |  | 2.1 |
Nondeductible expenses |  | 3.7 |  |  |  | 4.3 |  |  |  | 2.9 |
Tax rate changes |  | (.1 | ) |  |  | 1.9 |  |  |  | (.2 | )
French dividend surtax |  | — |  |  |  | .3 |  |  |  | — |
Other, net |  | (2.2 | ) |  |  | (1.7 | ) |  |  | (1.9 | )
Provision for income taxes (benefit) | $ | 169.9 |  |  | $ | 104.8 |  |  | $ | (91.0 | )
Components of income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |
Currently payable (refundable): |  |  |  |  |  |  |  |  |  |  |
U.S. federal and state | $ | 8.0 |  |  | $ | .9 |  |  | $ | 9.1 |
Non-U.S. |  | 78.7 |  |  |  | 42.6 |  |  |  | (1.2 | )
Total |  | 86.7 |  |  |  | 43.5 |  |  |  | 7.9 |
Deferred income taxes (benefit): |  |  |  |  |  |  |  |  |  |  |
U.S. federal and state |  | 28.6 |  |  |  | 34.5 |  |  |  | (57.9 | )
Non-U.S. |  | 54.6 |  |  |  | 26.8 |  |  |  | (41.0 | )
Total |  | 83.2 |  |  |  | 61.3 |  |  |  | (98.9 | )
Provision for income taxes (benefit) | $ | 169.9 |  |  | $ | 104.8 |  |  | $ | (91.0 | )
Comprehensive provision for income taxes (benefit) allocable to: |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations | $ | 169.9 |  |  | $ | 104.8 |  |  | $ | (91.0 | )
Income from discontinued operations |  | 5.0 |  |  |  | 5.4 |  |  |  | — |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |
Marketable securities |  | 7.7 |  |  |  | (11.6 | ) |  |  | 5.1 |
Currency translation |  | — |  |  |  | 4.9 |  |  |  | 5.5 |
Pension plans |  | (6.5 | ) |  |  | (18.3 | ) |  |  | 14.1 |
OPEB plans |  | (1.0 | ) |  |  | (.7 | ) |  |  | 1.0 |
Total | $ | 175.1 |  |  | $ | 84.5 |  |  | $ | (65.3 | )
Components of Net Deferred Tax Liability | The components of the net deferred tax liability at December 31, 2012 and 2013 are summarized below.
| December 31, |
| 2012 |  |  | 2013 |
| Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
| (In millions) |
Tax effect of temporary differences related to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Inventories | $ | 3.6 |  |  | $ | (10.3 | ) |  | $ | 4.4 |  |  | $ | (2.6 | )
Marketable securities |  | — |  |  |  | (164.8 | ) |  |  | — |  |  |  | (145.8 | )
Property and equipment |  | — |  |  |  | (104.5 | ) |  |  | — |  |  |  | (115.8 | )
Accrued OPEB costs |  | 6.9 |  |  |  | — |  |  |  | 4.6 |  |  |  | — |
Accrued pension costs |  | 33.3 |  |  |  | — |  |  |  | 21.8 |  |  |  | — |
Accrued environmental liabilities |  | 16.9 |  |  |  | — |  |  |  | 40.1 |  |  |  | — |
Other deductible differences |  | 26.2 |  |  |  | — |  |  |  | 58.8 |  |  |  | — |
Other taxable differences |  | — |  |  |  | (30.3 | ) |  |  | — |  |  |  | (35.1 | )
Investments in subsidiaries and affiliates |  | — |  |  |  | (258.3 | ) |  |  | — |  |  |  | (280.6 | )
Tax on unremitted earnings of non-U.S. subsidiaries |  | — |  |  |  | (7.6 | ) |  |  | — |  |  |  | (2.6 | )
Tax loss and tax credit carryforwards |  | 153.0 |  |  |  | — |  |  |  | 191.8 |  |  |  | — |
Valuation allowance |  | (.2 | ) |  |  | — |  |  |  | (.1 | ) |  |  | — |
Adjusted gross deferred tax assets (liabilities) |  | 239.7 |  |  |  | (575.8 | ) |  |  | 321.4 |  |  |  | (582.5 | )
Netting of items by tax jurisdiction |  | (109.8 | ) |  |  | 109.8 |  |  |  | (149.2 | ) |  |  | 149.2 |
|  | 129.9 |  |  |  | (466.0 | ) |  |  | 172.2 |  |  |  | (433.3 | )
Less net current deferred tax asset (liability) |  | 9.6 |  |  |  | (11.2 | ) |  |  | 23.0 |  |  |  | (2.2 | )
Net noncurrent deferred tax asset (liability) | $ | 120.3 |  |  | $ | (454.8 | ) |  | $ | 149.2 |  |  | $ | (431.1 | )
Changes in Uncertain Tax Positions | The following table shows the changes in the amount of our uncertain tax positions (exclusive of the effect of interest and penalties) during 2011, 2012 and 2013:
| Years ended December 31, |
| 2011 |  |  | 2012 |  |  | 2013 |
| (In millions) |
Unrecognized tax benefits: |  |  |  |  |  |  |  |  |  |  |
Amount beginning of year | $ | 37.4 |  |  | $ | 23.0 |  |  | $ | 33.4 |
Net increase: |  |  |  |  |  |  |  |  |  |  |
Tax positions taken in prior periods |  | .5 |  |  |  | 1.1 |  |  |  | .5 |
Tax positions taken in current period |  | 6.0 |  |  |  | 11.0 |  |  |  | 11.3 |
Settlements with taxing authorities—cash paid |  | — |  |  |  | (.1 | ) |  |  | — |
Lapse due to applicable statute of limitations |  | (20.6 | ) |  |  | (1.8 | ) |  |  | 3.4 |
Acquisition of BMI and Landwell |  | — |  |  |  | — |  |  |  | .1 |
Changes in currency exchange rates |  | (.3 | ) |  |  | .2 |  |  |  | (.8 | )
Amount at end of year | $ | 23.0 |  |  | $ | 33.4 |  |  | $ | 47.9 |

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