Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

INCOME BEFORE INCOME TAXES	2018		2017		2016
U.S.	$	47.0	$	89.0	$	172.0
Non-U.S.		565.4		703.4		612.2
Total	$	612.4	$	792.4	$	784.2

Schedule of Provision for Income Taxes

PROVISION FOR INCOME TAXES	2018			2017			2016
Current
U.S. federal	$	31.6		$	53.4		$	79.2
Non-U.S.		192.7			162.8			167.6
U.S. state and local		10.1			9.9			3.5
Deferred
U.S. federal		0.8			21.8			(15.8	)
Non-U.S.		(0.2	)		(44.4	)		(9.7	)
U.S. state and local		(0.1	)		0.9			(0.5	)
Total income tax expense	$	234.9		$	204.4		$	224.3

Schedule of Effective Income Tax Rate

EFFECTIVE INCOME TAX RATE	2018				2017				2016
U.S. federal income tax rate		21.0		%		35.0		%		35.0		%
Foreign tax rate variances		5.5				(7.4	)			(6.4	)
Tax credits		(3.9	)			(3.3	)			(2.8	)
Change in Valuation Allowances		(3.2	)			(4.8	)			1.3
Current year losses with no benefit		0.5				0.3				1.2
Net operating loss carry-forwards		(0.1	)			(3.7	)			(3.4	)
Changes in tax reserves		3.4				0.8				0.5
U.S. Expense Allocation		0.0				2.0				2.0
Earnings of equity investments		(0.1	)			(0.1	)			(0.1	)
Withholding taxes		3.5				2.1				2.5
State taxes, net of federal benefit		1.1				0.3				0.2
Antitrust settlement		9.9				—				—
U.S. GILTI Tax		1.7				—				—
Change in U.S. tax rate		—				3.0				—
Deemed mandatory repatriation		—				3.1				—
Other, net		(0.9	)			(1.5	)			(1.4	)
Effective income tax rate		38.4		%		25.8		%		28.6		%

Schedule of Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits:

UNRECOGNIZED TAX BENEFITS	2018			2017			2016
Unrecognized tax benefits at beginning of year	$	29.6		$	27.2		$	25.2
Increases as a result of tax positions taken during a prior    period		24.0			2.0			4.5
Decreases as a result of tax positions taken during a prior    period		—			—			(0.2	)
Increases as a result of tax positions taken during the current    period		4.7			6.8			5.8
Decreases as a result of tax positions taken during the    current period		(3.1	)		—			(1.7	)
Decreases relating to settlements with taxing authorities		(3.2	)		(7.1	)		(1.3	)
Decreases resulting from the lapse of the applicable statute    of limitations		(1.5	)		(0.3	)		(3.5	)
Translation Difference		(0.9	)		1.0			(1.6	)
Total unrecognized tax benefits at end of year	$	49.6		$	29.6		$	27.2

Schedule of Deferred Taxes

The tax effect of temporary differences and carryforwards that comprise significant portions of deferred tax assets and liabilities were as follows.

DEFERRED TAXES
DECEMBER 31	2018			2017			2016
Assets
Provisions	$	104.9		$	107.3		$	101.5
Costs capitalized for tax		18.2			18.6			16.8
Property, plant and equipment		13.0			14.2			18.2
Retirement Plans		50.1			50.0			65.5
Tax receivables, principally NOL’s		113.9			150.2			211.7
Deferred tax assets before allowances	$	300.1		$	340.3		$	413.7
Valuation allowances		(71.0	)		(110.6	)		(199.6	)
Total	$	229.1		$	229.7		$	214.1
Liabilities
Acquired intangibles	$	(6.1	)	$	(6.6	)	$	(12.3	)
Statutory tax allowances		(0.5	)		—			—
Distribution taxes		(22.9	)		(22.8	)		(16.0	)
Other		(10.1	)		(3.9	)		(4.9	)
Total	$	(39.6	)	$	(33.3	)	$	(33.2	)
Net deferred tax asset	$	189.5		$	196.4		$	180.9

Schedule of Valuation Allowances Against Deferred Tax Assets

The following table summarizes the activity related to the Company’s valuation allowances:

VALUATION ALLOWANCES AGAINST DEFERRED TAX ASSETS DECEMBER 31	2018			2017			2016
Allowances at beginning of year	$	110.6		$	199.6		$	177.7
Benefits reserved current year		6.4			22.9			32.3
Benefits recognized current year		(36.9	)		(117.0	)		(13.8	)
Write-offs and other changes		—			(0.1	)		(0.5	)
Translation difference		(9.1	)		5.2			3.9
Allowances at end of year	$	71.0		$	110.6		$	199.6