Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of income from continuing operations before income taxes by geographic region

Income from continuing operations before income taxes by geographic region was as follows:

	Year Ended December 31,
	2021		2020		2019
U.S.	$	1,242.6	$	512.4	$	427.8
Non-U.S.	365.1		195.2		163.7
Income from continuing operations before income taxes	$	1,607.7	$	707.6	$	591.5

Schedule of income taxes relating to income from continuing operations

Income taxes relating to income from continuing operations consisted of the following:

	Year Ended December 31,
	2021		2020		2019
Current:
Federal	$	115.7	$	(78.1)	$	23.6
State and local	48.1		7.3		4.3
Non-U.S.	67.7		39.2		36.8
Total current	$	231.5	$	(31.6)	$	64.7
Deferred:
Federal	129.9		165.4		67.6
State and local	33.9		22.5		24.0
Non-U.S.	21.0		6.4		0.4
Total deferred	$	184.8	$	194.3	$	92.0
Income taxes	$	416.3	$	162.7	$	156.7

Schedule of reconciliation of income taxes from continuing operations at federal statutory rate

Income taxes relating to income from continuing operations varied from the U.S. federal statutory income tax rate due to the following:

	Year Ended December 31,
	2021		2020		2019
Income taxes at federal statutory rate	$	337.6	$	148.6	$	124.2
State and local income taxes, net of federal taxes	64.6		21.9		23.6
Non-U.S. income taxed at other rates	11.9		4.6		2.8
Rate differential from NOL carryback	—		(21.6)		—
Foreign tax credit revaluation	—		12.3		—
Other	2.2		(3.1)		6.1
Income taxes	$	416.3	$	162.7	$	156.7

Schedule of components of deferred tax assets and liabilities

The components of deferred tax assets and liabilities as of December 31, 2021, and 2020 were as follows:

	December 31,
	2021		2020
Deferred Tax Assets
Accrued liabilities	$	68.7	$	64.6
Net operating loss and credit carryforwards	60.7		102.6
Leasing liabilities	605.4		596.9
Other	31.0		31.5
Total deferred tax assets	765.8		795.6
Valuation allowance	(67.0)		(64.2)
Net deferred tax assets	$	698.8	$	731.4
Deferred Tax Liabilities
Depreciation and amortization	(283.8)		(242.9)
Partnership investments	(861.4)		(757.4)
Leasing assets	(605.4)		(596.9)
Other	(8.6)		(7.3)
Total deferred tax liabilities	(1,759.2)		(1,604.5)
Net deferred tax liabilities	$	(1,060.4)	$	(873.1)

Schedule of movement in uncertain tax positions

The movement in uncertain tax positions for the years ended December 31, 2021, 2020, and 2019 were as follows:

	Year Ended December 31,
	2021		2020		2019
Uncertain tax positions — January 1	$	0.1	$	0.1	$	0.1
Gross increase — tax position in prior periods	0.4		—		—
Gross decrease — tax position in prior periods	—		—		—
Gross increase — current period tax position	—		—		—
Settlements	—		—		—
Lapse in statute of limitations	—		—		—
Foreign exchange	—		—		—
Uncertain tax positions — December 31	$	0.5	$	0.1	$	0.1