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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2014
Income Tax Disclosure [Abstract]  
Summary of earnings from continuing operations
Earnings from continuing operations are summarized below:
(in millions)
 
2014
 
2013
 
2012
Earnings (loss) from continuing operations before income taxes:
 
 

 
 

 
 

Domestic
 
$
32.6

 
$
90.1

 
$
94.1

Foreign
 
136.8

 
135.1

 
52.8

Total
 
$
169.4

 
$
225.2

 
$
146.9
Schedule of the provision for taxes on earnings (loss) from continuing operations
Income tax expense (benefit) from continuing operations is summarized as follows:
(in millions)
 
2014
 
2013
 
2012
Current:
 
 

 
 

 
 

Federal and state
 
$
(12.0
)
 
$
24.1

 
$
29.2

Foreign
 
26.8

 
25.4

 
17.3

Total current
 
$
14.8

 
$
49.5

 
$
46.5

Deferred:
 
 

 
 

 
 

Federal and state
 
$
4.5

 
$
(15.2
)
 
$
(5.2
)
Foreign
 
(10.7
)
 
1.8

 
(3.3
)
Total deferred
 
$
(6.2
)
 
$
(13.4
)
 
$
(8.5
)
Provision for taxes on earnings
 
$
8.6

 
$
36.1

 
$
38.0
Reconciliation of the federal statutory income tax rate to the company's effective income tax rate for continuing operations
The federal statutory income tax rate is reconciled to the company’s effective income tax rate for continuing operations for the years ended December 31, 2014, 2013 and 2012 as follows, which excludes the impact of discontinued operations which had an effective tax rate of 6.9% for 2014:
 
 
2014
 
2013
 
2012
Federal income tax at statutory rate
 
35.0
 %
 
35.0
 %
 
35.0
 %
State income provision (benefit)
 
(0.4
)
 
(0.5
)
 
0.3

Manufacturing & research incentives
 
(2.7
)
 
(3.3
)
 
(3.5
)
Taxes on foreign income which differ from the U.S. statutory rate
 
(14.4
)
 
(9.3
)
 
(7.7
)
Adjustments for unrecognized tax benefits
 
(1.4
)
 
(5.4
)
 
(6.7
)
Adjustments for valuation allowances
 
26.8

 
(1.0
)
 
9.2

Capital loss generation
 
(45.7
)
 
—

 
—

Change in assertion over permanently reinvested foreign earnings
 
3.2

 
—

 
—

Other items
 
4.7

 
0.5

 
(0.7
)
Effective tax rate
 
5.1
 %
 
16.0
 %
 
25.9
 %
Schedules of deferred tax assets (liabilities)
Temporary differences and carryforwards that give rise to deferred tax assets and liabilities include the following items:
(in millions)
 
2014
 
2013
Current deferred tax assets (liabilities):
 
 

 
 

   Inventories
 
$
29.5

 
$
32.3

   Accounts receivable
 
(5.6
)
 
(2.1
)
   Product warranty reserves
 
19.0

 
20.0

   Product liability reserves
 
8.3

 
7.9

   Deferred revenue, current portion
 
7.7

 
0.6

   Deferred employee benefits
 
13.3

 
16.6

   Other reserves and allowances
 
5.7

 
16.1

   Less valuation allowance
 
(12.2
)
 
(3.6
)
   Net deferred tax assets, current
 
$
65.7

 
$
87.8

Non-current deferred tax assets (liabilities):
 
 
 
 
   Property, plant and equipment
 
$
(28.2
)
 
$
(32.6
)
   Intangible assets
 
(281.8
)
 
(296.3
)
   Deferred employee benefits
 
87.7

 
67.1

   Product warranty reserves
 
5.2

 
4.2

   Tax credits
 
1.0

 
2.3

   Loss carryforwards
 
199.0

 
192.7

   Deferred revenue
 
4.0

 
5.9

   Other
 
(0.7
)
 
(2.4
)
   Total non-current deferred tax liabilities
 
(13.8
)
 
(59.1
)
   Less valuation allowance
 
(156.0
)
 
(146.2
)
   Net deferred tax liabilities, non-current
 
$
(169.8
)
 
$
(205.3
)

The net deferred tax assets (liabilities) are reflected in the Consolidated Balance Sheets for the years ended December 31, 2014 and December 31, 2013 as follows:
(in millions)
 
2014
 
2013
Current income tax asset
 
$
71.3

 
$
89.9

Long-term income tax assets, included in other non-current assets
 
16.4

 
9.0

Current deferred income tax liability, included in accounts payable and accrued expenses
 
(5.6
)
 
(2.1
)
Long-term deferred income tax liability
 
(186.2
)
 
(214.3
)
Net deferred income tax liability
 
$
(104.1
)
 
$
(117.5
)
Schedule of open tax years for which the company could be subject to income tax examination
The following table provides the open tax years for which the company could be subject to income tax examination by the tax authorities in its major jurisdictions:
Jurisdiction
 
Open Years
U.S. Federal
 
2012 — 2014
Wisconsin
 
2009 — 2014
China
 
2007 — 2014
France
 
2013 — 2014
Germany
 
2006 — 2014
Reconciliation of the beginning and ending amount of unrecognized tax benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended December 31, 2014, 2013 and 2012 is as follows:
(in millions)
 
2014
 
2013
 
2012
Balance at beginning of year
 
$
35.9

 
$
47.3

 
$
56.3

Additions based on tax positions related to the current year
 
15.5

 
2.0

 
1.8

Additions for tax positions of prior years
 
0.1

 
3.7

 
3.6

Reductions for tax positions of prior years
 
(2.7
)
 
(8.1
)
 
(11.9
)
Reductions based on settlements with taxing authorities
 
(7.3
)
 
(3.6
)
 
(1.1
)
Reductions for lapse of statute
 
(8.2
)
 
(5.4
)
 
(1.4
)
Balance at end of year
 
$
33.3

 
$
35.9

 
$
47.3