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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of (Loss) Income before Income Tax, Domestic and Foreign

The components of (loss) income before income tax for the years ended December 31, 2023, 2022, and 2021 were as follows:

(in millions)		2023				2022				2021
Domestic operations		$	(124.8	)		$	(80.1	)		$	(5.6	)
Foreign operations			111.7				95.0				117.0
Total		$	(13.1	)		$	14.9			$	111.4

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of income taxes computed at the U.S. federal statutory income tax rate of 21 percent to our effective income tax rate for the years ended December 31, 2023, 2022, and 2021 was as follows:

(in millions)		2023				2022				2021
Income tax at U.S. statutory rate; 21%		$	(2.7	)		$	3.1			$	23.4
Unrecognized tax expense (benefits)			1.0				(7.6	)			(1.9	)
Impact of final GILTI regulations for 2018 and 2019			—				—				(1.0	)
Statutory tax rate changes			0.4				0.6				(6.8	)
Statutory tax law changes			(3.6	)			—				(1.2	)
State, local and other tax, net of federal benefit			(1.3	)			1.6				0.6
Impact from foreign inclusions			(0.7	)			4.0				1.2
U.S. effect of foreign dividends and withholding taxes			3.9				1.8				1.2
Foreign income taxed at a higher effective rate			4.2				3.1				2.9
Brazilian Tax Assessments impact			(13.3	)			1.9				0.5
Increase (decrease) in valuation allowance			5.4				3.4				(11.4	)
General business credit			(2.2	)			(1.9	)			(2.1	)
Excess expense from stock-based compensation			0.6				0.5				0.5
Impairment of non-deductible goodwill			18.8				20.7				—
Impact of legal entity rationalization			—				(4.1	)			—
Prior period tax return adjustment			(1.0	)			(0.1	)			(0.6	)
Other (decrease) increase			(0.8	)			1.1				4.2
Income taxes as reported		$	8.7			$	28.1			$	9.5
Effective tax rate			(66.4	)%			188.6	%			8.5	%

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense for the years ended December 31, 2023, 2022, and 2021 were as follows:

(in millions)		2023				2022				2021
Current expense
Federal and other		$	0.2			$	1.8			$	2.0
Foreign			28.6				25.0				28.5
Total current income tax expense			28.8				26.8				30.5
Deferred expense (benefit)
Federal and other		$	(16.7	)		$	6.8			$	(16.5	)
Foreign			(3.4	)			(5.5	)			(4.5	)
Total deferred income tax (benefit) expense			(20.1	)			1.3				(21.0	)
Total income tax expense		$	8.7			$	28.1			$	9.5

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets (liabilities) as of December 31, 2023 and 2022 were as follows:

(in millions)		2023				2022
Deferred tax assets
Compensation and benefits		$	23.0			$	15.5
Pension			23.4				23.2
Inventory			10.4				10.1
Other reserves			18.9				21.7
Accounts receivable			7.4				9.7
Foreign tax credit carryforwards			6.4				11.1
Net operating loss carryforwards			76.7				89.2
Interest expense carryforwards			26.3				17.0
Section 174 capitalization			17.3				7.3
General business tax credit carryforwards			3.4				—
Other			5.2				0.6
Gross deferred income tax assets			218.4				205.4
Valuation allowance			(59.2	)			(51.9	)
Net deferred tax assets			159.2				153.5
Deferred tax liabilities
Depreciation			(5.7	)			(8.9	)
Unremitted non-U.S. earnings accrual			(4.0	)			(5.5	)
Identifiable intangibles			(170.4	)			(182.9	)
Other			—				(0.6	)
Gross deferred tax liabilities			(180.1	)			(197.9	)
Net deferred tax liabilities		$	(20.9	)		$	(44.4	)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2023, 2022, and 2021 was as follows:

(in millions)		2023				2022				2021
Balance at beginning of year		$	39.1			$	43.3			$	45.1
Additions for tax positions of prior years			3.6				2.5				4.5
Reductions for tax positions of prior years			(17.7	)			(8.3	)			(4.2	)
Increase (decrease) resulting from foreign currency translation			3.0				1.6				(2.1	)
Balance at end of year		$	28.0			$	39.1			$	43.3

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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