Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

For financial reporting purposes, income before income taxes includes the following components ($ in millions):

	For the Years Ended December 31,
	2019		2018		2017
United States	$	60.0	$	55.8	$	42.6
Foreign	36.9		61.0		58.9
Total	$	96.9	$	116.8	$	101.5

Schedule of Components of Income Tax Expense (Benefit), Continuing Operations

An analysis of the provision (benefit) for income taxes from continuing operations follows ($ in millions):

	For the Years Ended December 31,
	2019			2018			2017
Current income taxes:
U.S. federal	$	8.1		$	(9.2	)	$	53.2
U.S. state	0.8			0.8			0.6
Foreign	9.7			11.6			14.2
	18.6			3.2			68.0
Deferred income taxes:
U.S. federal	2.3			3.6			(1.3		)
U.S. state	(1.9		)	1.4			2.9
Foreign	(3.8		)	2.5			—
	(3.4		)	7.5			1.6
Total	$	15.2		$	10.7		$	69.6

Schedule of Reconciliation of Income Tax Rate

A reconciliation of income taxes computed at the U.S. Federal statutory income tax rate to the provision for income taxes is as follows ($ in millions): 

	For the Years Ended December 31,
	2019					2018					2017
	Amount			Percent		Amount			Percent		Amount			Percent
Tax provision at U.S. statutory rate	$	20.3		21.0	%	$	24.5		21.0	%	$	35.6		35.0	%
Foreign income tax rate differential	0.6			0.5		2.5			2.2		(3.3		)	(3.3	)
Income from passthrough entities	1.7			1.6		0.7			0.6		6.4			6.4
Global intangible low tax inclusion	(0.1		)	(0.1	)	7.0			6.0		—			—
Foreign derived intangible income	(0.2		)	(0.2	)	(4.2		)	(3.6	)	—			—
State income tax, net of federal benefit	(0.2		)	(0.2	)	1.7			1.5		2.7			2.6
Adjustments to valuation allowances	(3.7		)	(3.8	)	(2.5		)	(2.1	)	(2.8		)	(2.8	)
Transition tax	(0.7		)	(0.6	)	(11.6		)	(10.0	)	51.4			50.6
Other tax credits	(2.0		)	(2.1	)	(2.6		)	(2.3	)	(2.3		)	(2.3	)
Foreign tax credits	(3.5		)	(3.6	)	(5.1		)	(4.4	)	(9.2		)	(9.0	)
Other foreign operational taxes	2.9			3.0		3.1			2.7		4.2			4.2
Domestic production deduction	—			—		—			—		(2.4		)	(2.3	)
Remeasurement of deferred taxes due to tax law	0.9			1.0		(1.8		)	(1.5	)	(11.8		)	(11.7	)
Non-deductible compensation	1.1			1.1		0.4			0.3		—			—
Other, net	(1.9		)	(1.9	)	(1.4		)	(1.2	)	1.1			1.2
Provision for income taxes	$	15.2		15.7	%	$	10.7		9.2	%	$	69.6		68.6	%

Schedule of Deferred Tax Assets (Liabilities)

Net deferred income tax assets (liabilities) were comprised of the following ($ in millions):

	December 31,
	2019			2018
Deferred Tax Assets
Receivable allowances	$	0.4		$	0.8
Inventory and other assets	—			1.1
Postretirement and other employee benefits	19.0			14.8
Derivatives	0.1			—
Net operating loss and tax credit carryforwards	93.7			93.3
Capital loss carryforward	6.9			—
Investment in subsidiaries	—			5.6
Intangibles	45.7			60.0
Other	3.9			1.2
	169.7			176.8
Less: Valuation allowance	(157.4		)	(172.1		)
Net deferred income tax assets	$	12.3		$	4.7
Deferred Tax Liabilities
Net property, plant and equipment	$	(52.6	)	$	(51.9	)
Accruals and other liabilities	(0.6		)	(0.2		)
Investment in subsidiaries	(3.5		)	—
Derivatives	—			(0.3		)
Other	(0.1		)	—
Net deferred income tax liabilities	$	(56.8	)	$	(52.4	)
Total net deferred income tax liabilities	$	(44.5	)	$	(47.7	)

Summary of Operating Loss Carryforwards

As of December 31, 2019 the Company had approximately $90.5 million of tax-effected operating loss carryforwards available to further reduce future taxable income in various jurisdictions which will expire on various dates as follows:

	2019
2020-2023	$	0.2
2024-2035	15.3
Indefinite	75.0
	$	90.5

Schedule of Unrecognized Tax Benefits

The following table summarizes the activity related to the Company's unrecognized tax benefits related to income taxes ($ in millions):

	December 31,
	2019		2018			2017
Uncertain tax position balance at beginning of year	$	1.1	$	1.0		$	2.4
Increases related to current year tax positions	0.6		0.6			0.3
Increases related to prior year tax positions	—		—			0.4
Decreases related to prior year tax positions	—		(0.2		)	(2.0		)
Decreases related to expiration of statute of limitations	—		(0.3		)	(0.1		)
Uncertain tax position balance at end of year	$	1.7	$	1.1		$	1.0

Summary of Income Tax Examinations

The following tax years remain subject to examination by the respective major tax jurisdictions:

Jurisdiction	Fiscal Years
Belgium	2017-2019
Brazil	2014-2019
Canada	2015-2019
China	2017-2019
France	2016-2019
Germany	2015-2019
Hong Kong	2013-2019
Luxembourg	2014-2019
Philippines	2016-2019
Poland	2013-2019
Spain	2015-2019
United Kingdom	2016-2019
United States
Federal	2016-2019
State	2014-2019