Income Taxes (Tables)

9 Months Ended

Sep. 30, 2016

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

The following table summarizes the balance of deferred tax assets, net of deferred tax liabilities, at September 30, 2016, of $714.6 million:

	Deferred Tax Asset (Net of Liabilities)		Valuation Allowance			Net Deferred Tax Asset
United States—Federal(1)	$	660.7	$	(20.8	)	$	639.9
United States—States(1)	55.2		(18.1		)	37.1
Germany	30.9		—			30.9
Other foreign	9.3		(2.6		)	6.7
Total	$	756.1	$	(41.5	)	$	714.6

___________________________________________________________________________________________________________________

(1) The U.S. federal deductions generated relating to emergence of $1,800 million, plus the $30 million ZAI PD deferred payment obligation, account for a majority of the U.S. federal and state deferred tax assets.

Summary of Operating Loss Carryforwards

The following table summarizes expiration dates in jurisdictions where Grace has, or will have, material tax loss and credit carryforwards:

	Expiration Dates
United States—Federal (NOLs)	2034 - 2035
United States—Federal (Credits)	2019 - 2025
United States—States (NOLs)	2016 - 2035