XML 51 R67.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes (Deferred Tax Assets And Liabilities) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Deferred tax assets attributable to:    
Accrued expenses $ 47.6 $ 56.1
Foreign tax credit carryforwards 2.6 1.4
Accrued pension and other post-retirement benefits 109.1 109.3
Stock-based compensation 24.3 20.0
Net operating loss carryforwards 31.5 23.7
Inventories 21.1 18.6
Norwegian correction tax (1) 71.0 [1] 39.2 [1]
Foreign exchange (1) 5.2 [1] 5.2 [1]
Deferred tax assets 312.4 273.5
Valuation allowance (4.3) (3.7)
Deferred tax assets, net of valuation allowance 308.1 269.8
Deferred tax liabilities attributable to:    
Revenue in excess of billings on contracts accounted for under the percentage of completion method 147.1 138.0
U.S. tax on foreign subsidiaries’ undistributed earnings not indefinitely reinvested (1) 40.6 [1] 29.4 [1]
Property, plant and equipment, goodwill and other assets (1) 129.9 [1] 74.5 [1]
Deferred tax liabilities 317.6 241.9
Total $ (9.5) $ 27.9
[1] Certain prior-year amounts have been reclassified to conform to the current year’s presentation. We have reclassified and separately stated our deferred taxes related to Norwegian correction tax. In addition, we have reclassified certain deferred taxes related to the foreign exchange impact on certain foreign subsidiaries’ undistributed earnings not indefinitely reinvested. These reclassifications increased the 2011 deferred tax liability balance of property, plant, and equipment, goodwill and other assets by $32.3 million. This change only impacted the presentation of information in the above table and did not impact our financial position or results of operations for 2011.