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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Summary of Earnings from Continuing Operations | from continuing operations are summarized below:
(in millions) |  | 2016 |  | 2015 |  | 2014
(Loss) income from continuing operations before income taxes: |  |  |  |  |  |  |  |  |
Domestic |  | $ | (293.0 | ) |  | $ | (184.0 | ) |  | $ | (93.3 | )
Foreign |  | 24.9 |  |  | 73.0 |  |  | 72.9 |
Total |  | $ | (268.1 | ) |  | $ | (111.0 | ) |  | $ | (20.4 | )
Schedule of Income Tax Expense (Benefit) from Continuing Operations | Income tax provision (benefit) from continuing operations is summarized as follows:
(in millions) |  | 2016 |  | 2015 |  | 2014
Current: |  |  |  |  |  |  |  |  |
Federal and state |  | $ | (13.0 | ) |  | $ | (48.6 | ) |  | $ | (41.0 | )
Foreign |  | 12.1 |  |  | 11.9 |  |  | 11.7 |
Total current |  | $ | (0.9 | ) |  | $ | (36.7 | ) |  | $ | (29.3 | )
Deferred: |  |  |  |  |  |  |  |  |
Federal and state |  | $ | 98.7 |  |  | $ | (8.3 | ) |  | $ | 16.7 |
Foreign |  | 2.7 |  |  | 3.9 |  |  | (5.2 | )
Total deferred |  | $ | 101.4 |  |  | $ | (4.4 | ) |  | $ | 11.5 |
Provision (benefit) for taxes on income |  | $ | 100.5 |  |  | $ | (41.1 | ) |  | $ | (17.8 | )
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, 2016, 2015 and 2014 as follows:
|  | 2016 |  | 2015 |  | 2014
Federal income tax at statutory rate |  | 35.0 | % |  | 35.0 | % |  | 35.0 | %
State income provision (benefit) |  | 2.3 |  |  | 5.7 |  |  | 16.5 |
Manufacturing & research incentives |  | 2.0 |  |  | (0.4 | ) |  | 6.1 |
Taxes on foreign income which differ from the U.S. statutory rate |  | 3.0 |  |  | 3.2 |  |  | 44.1 |
Adjustments for unrecognized tax benefits |  | (4.0 | ) |  | 1.5 |  |  | 51.5 |
Adjustments for valuation allowances |  | (69.8 | ) |  | (8.5 | ) |  | (25.0 | )
Spin-off tax costs |  | (1.3 | ) |  | (1.8 | ) |  | — |
Change in assertion over permanently reinvest foreign earnings |  | — |  |  | — |  |  | (26.4 | )
Other items |  | (4.7 | ) |  | 2.3 |  |  | (14.5 | )
Effective tax rate |  | (37.5 | )% |  | 37.0 | % |  | 87.3 | %
Schedules of Deferred Tax Assets (Liabilities) |
(in millions) |  | 2016 |  | 2015
Non-current deferred tax assets (liabilities): |  |  |  |
Inventories |  | $ | 14.2 |  |  | $ | 16.2 |
Accounts receivable |  | (4.6 | ) |  | (6.9 | )
Property, plant and equipment |  | 19.0 |  |  | (10.6 | )
Intangible assets |  | (35.9 | ) |  | (37.8 | )
Deferred employee benefits |  | 71.8 |  |  | 77.2 |
Product warranty reserves |  | 6.1 |  |  | 6.9 |
Product liability reserves |  | 7.8 |  |  | 7.7 |
Tax credits |  | 4.9 |  |  | 0.4 |
Loss carryforwards |  | 145.4 |  |  | 102.1 |
Deferred revenue |  | 10.8 |  |  | 10.2 |
Other |  | (1.7 | ) |  | (8.1 | )
Total non-current deferred tax liabilities |  | 237.8 |  |  | 157.3 |
Less valuation allowance |  | (269.6 | ) |  | (86.5 | )
Net deferred tax liabilities, non-current |  | $ | (31.8 | ) |  | $ | 70.8 |
The net deferred tax assets (liabilities) are reflected in the Consolidated Balance Sheets for the years ended December 31, 2016 and December 31, 2015 as follows:
(in millions) |  | 2016 |  | 2015
Long-term income tax assets, included in other non-current assets |  | $ | 4.8 |  |  | $ | 96.4 |
Long-term deferred income tax liability |  | (36.6 | ) |  | (25.6 | )
Net deferred income tax liability |  | $ | (31.8 | ) |  | $ | 70.8 |
Schedule of Open Tax Years for Which the Company could be Subject to Income Tax Examination | The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. 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 — 2016
China |  | 2007 — 2016
France |  | 2013 — 2016
Germany |  | 2011 — 2016
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, 2016, 2015 and 2014 is as follows:
(in millions) |  | 2016 |  | 2015 |  | 2014
Balance at beginning of year |  | $ | 19.4 |  |  | $ | 20.8 |  |  | $ | 29.5 |
Additions based on tax positions related to the current year |  | 1.1 |  |  | 1.3 |  |  | 1.5 |
Additions for tax positions of prior years |  | 5.0 |  |  | 0.2 |  |  | 3.2 |
Reductions for tax positions of prior years |  | (9.3 | ) |  | — |  |  | (2.7 | )
Reductions based on settlements with taxing authorities |  | — |  |  | — |  |  | (5.0 | )
Reductions for lapse of statute |  | (0.4 | ) |  | (2.9 | ) |  | (5.7 | )
Balance at end of year |  | $ | 15.8 |  |  | $ | 19.4 |  |  | $ | 20.8 |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=65882285&loc=SL6600010-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32718-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32840-109319 + Details
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