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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Schedule of difference between the effective income tax rate and the U.S. federal statutory income tax rate
The following table presents the principal reasons for the difference between the Company's effective income tax rate and the U.S. federal statutory income tax rate:
 
 
Year Ended December 31,
 
 
2017
 
2017
 
2016
 
2016
 
2015
 
2015
U.S. federal statutory income tax rate
 
35.0
 %
 
$
32.1

 
35.0
 %
 
$
36.1

 
35.0
 %
 
$
31.5

U.S. state income taxes, net of federal income tax benefit
 
1.9
 %
 
1.7

 
1.9
 %
 
2.0

 
2.1
 %
 
1.9

Tax on foreign dividends (a)
 
(0.3
)%
 
(0.3
)
 
4.5
 %
 
4.6

 
3.6
 %
 
3.2

Foreign tax rate differences (b)
 
(3.4
)%
 
(3.1
)
 
(2.7
)%
 
(2.8
)
 
(2.2
)%
 
(2.0
)
Foreign financing structure (c)
 
(2.2
)%
 
(2.0
)
 
(1.6
)%
 
(1.7
)
 
(1.3
)%
 
(1.2
)
Excess tax benefits from stock compensation
 
(4.9
)%
 
(4.5
)
 
(3.0
)%
 
(3.1
)
 
—

 
—

Research and development and other tax credits (d)
 
(3.3
)%
 
(3.0
)
 
(2.8
)%
 
(2.9
)
 
(3.9
)%
 
(3.5
)
Domestic production activities deduction
 
(0.6
)%
 
(0.5
)
 
(1.5
)%
 
(1.5
)
 
(2.2
)%
 
(2.0
)
Uncertain income tax positions
 
0.8
 %
 
0.7

 
(0.4
)%
 
(0.4
)
 
1.3
 %
 
1.2

Change in statutory tax rates (e)
 
(10.6
)%
 
(9.7
)
 
—
 %
 
—

 
—
 %
 
—

Other differences — net
 
—
 %
 
—

 
(0.7
)%
 
(0.7
)
 
0.3
 %
 
0.3

Effective income tax rate
 
12.4
 %
 
$
11.4

 
28.7
 %
 
$
29.6

 
32.7
 %
 
$
29.4

_______________________

(a)
For 2017, the amount reflects the net benefit of the indefinite reinvestment assertion of $4.1 million, less the $3.8 mandatory one-time tax on the accumulated earnings of foreign subsidiaries from the Tax Act.
(b)
Represents the impact on the Company's effective tax rate due to changes in the mix of earnings among taxing jurisdictions with differing statutory rates.
(c)
Represents the impact on the Company's effective tax rate of the Company's financing strategies.
(d)
For 2015, the Company recognized a $1.4 million benefit related to research and development ("R&D") tax credits of FiberMark for the period 2012 through July 2015.
(e)
Represents the net benefit from remeasurement of the net deferred tax liabilities, including a tax benefit of $10.3 million from the Tax Act, less $0.6 million of tax expense from a state tax rate change in Germany.
Schedule of the U.S. and foreign components of income from continuing operations before income taxes
The following table presents the U.S. and foreign components of income from continuing operations before income taxes:
 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
Income from continuing operations before income taxes:
 
 

 
 

 
 

U.S. 
 
$
53.6

 
$
68.3

 
$
62.2

Foreign
 
38.1

 
34.7

 
27.7

Total
 
$
91.7

 
$
103.0

 
$
89.9
Schedule of components of the provision (benefit) for income taxes
The following table presents the components of the provision (benefit) for income taxes:
 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
Provision (benefit) for income taxes:
 
 

 
 

 
 

Current:
 
 

 
 

 
 

Federal
 
$
4.7

 
$
7.1

 
$
12.7

State
 
0.5

 
(0.5
)
 
1.3

Foreign
 
6.4

 
5.9

 
5.1

Total current tax provision
 
11.6

 
12.5

 
19.1

Deferred:
 
 

 
 

 
 

Federal
 
(1.8
)
 
14.8

 
7.7

State
 
(0.1
)
 
1.8

 
2.3

Foreign
 
1.7

 
0.5

 
0.3

Total deferred tax provision
 
(0.2
)
 
17.1

 
10.3

Total provision for income taxes
 
$
11.4

 
$
29.6

 
$
29.4
Schedule of components of deferred tax assets and liabilities
The components of deferred tax assets and liabilities, net of reserves for uncertain tax positions and valuation allowances, are as follows:
 
 
December 31,
 
 
2017
 
2016
Deferred income tax assets (liabilities)
 
 

 
 

Research and development tax credits
 
$
6.6

 
$
15.0

Net operating losses and credits
 
4.2

 
10.5

Employee benefits
 
1.1

 
26.0

Inventories
 
0.2

 
(0.5
)
Accrued liabilities
 
0.1

 
3.2

Intangibles
 
(0.5
)
 
(10.8
)
Accelerated depreciation
 
(1.6
)
 
(34.0
)
Undistributed foreign earnings
 
—

 
(4.4
)
Other
 
—

 
1.1

Net deferred income tax assets
 
$
10.1

 
$
6.1

 
 
 
 
 
Deferred income tax assets (liabilities)
 
 

 
 

Accelerated depreciation
 
$
(45.1
)
 
$
(12.3
)
Intangibles
 
(11.4
)
 
(2.8
)
Interest limitation
 
—

 
(0.3
)
Other
 
1.3

 
—

Inventories
 
1.8

 
0.3

Accrued liabilities
 
1.9

 
—

Net operating losses
 
5.0

 
—

Research and development tax credits
 
8.6

 
—

Employee benefits
 
22.9

 
5.0

Net deferred income tax liabilities
 
$
(15.0
)
 
$
(10.1
)
Schedule of reconciliation of the total amounts of uncertain tax positions
The following is a tabular reconciliation of the total amounts of uncertain tax positions as of and for the years ended December 31, 2017, 2016 and 2015:
 
 
For the Years Ended
December 31,
 
 
2017
 
2016
 
2015
Balance at January 1,
 
$
10.3

 
$
12.9

 
$
7.0

Increases in prior period tax positions
 
0.4

 
—

 
0.5

Decreases in prior period tax positions
 
(1.0
)
 
(2.6
)
 
—

Increases in current period tax positions
 
0.7

 
0.6

 
5.5

Decreases due to lapse of statute of limitations
 
(1.0
)
 
(0.3
)
 
—

Increases due to change in tax rates
 
0.4

 
—

 
—

Increases (decreases) from foreign exchange rate changes
 
0.2

 
(0.3
)
 
(0.1
)
Balance at December 31,
 
$
10.0


$
10.3


$
12.9