Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Domestic and foreign components of income from continuing operations before income taxes for the years ended on December 31, are shown below:

(In millions)	2017		2016		2015
Domestic	$	72.8	$	43.6	$	38.2
Foreign	59.4		50.4		44.0
Income before income taxes	$	132.2	$	94.0	$	82.2

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes related to income from continuing operations for the years ended on December 31, consisted of:

(In millions)	2017			2016			2015
Current:
Federal	$	13.2		$	7.8		$	6.0
State	1.0			2.2			1.2
Foreign	17.6			16.1			13.2
Total current	31.8			26.1			20.4
Deferred:
Federal	16.6			1.0			4.8
State	1.6			0.3			0.9
Foreign	(1.0		)	(0.9		)	(0.8		)
Change in the valuation allowance for deferred tax assets	0.4			—			—
Change in deferred tax liabilities due to foreign tax rate change	0.3			—			0.4
Benefits of operating loss carryforward	0.4			(0.5		)	0.5
Total deferred	18.3			(0.1		)	5.8
Provision for income taxes	$	50.1		$	26.0		$	26.2

Schedule of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities at December 31, were as follows:

(In millions)	2017			2016
Deferred tax assets attributable to:
Accrued pension and other post-retirement benefits	$	20.5		$	30.1
Accrued expenses and accounts receivable allowances	13.6			20.5
Net operating loss carryforwards	5.9			2.3
Inventories	5.5			9.0
Stock-based compensation	5.4			8.4
Research and development credit carryforwards	3.4			1.5
Foreign tax credit carryforward	0.3			0.2
Total deferred tax assets	54.6			72.0
Valuation allowance	(2.7		)	—
Deferred tax assets, net of valuation allowance	51.9			72.0
Deferred tax liabilities attributable to:
Liquidation of subsidiary for income tax purposes	13.3			13.3
Property, plant and equipment	11.6			14.1
Goodwill and amortization	24.3			15.5
Other	0.6			0.2
Total deferred tax liabilities	49.8			43.1
Net deferred tax assets	$	2.1		$	28.9

Schedule of Effective Income Tax Rate Reconciliation

The effective income tax rate was different from the statutory U.S. federal income tax rate due to the following:

	2017		2016		2015
Statutory U.S. federal tax rate	35	%	35	%	35	%
Net difference resulting from:
Research and development tax credit	(4	)	(4	)	(2	)
Foreign earnings subject to different tax rates	(2	)	(3	)	(3	)
Tax on foreign intercompany dividends and deemed dividends for tax purposes	—		—		6
Nondeductible expenses	1		—		—
State income taxes	2		2		2
Foreign tax credits	(1	)	(1	)	(7	)
Foreign withholding taxes	1		—		1
Effect of US Law Change	12		—		—
Stock Based Compensation - Excess Tax Benefit under ASC 2016-09	(5	)	—		—
Other	(1	)	(1	)	—
Total difference	3		(7	)	(3	)
Effective income tax rate	38	%	28	%	32	%

Summary of Income Tax Examinations

The following tax years remain subject to examination in the following significant jurisdictions:

Belgium	2014-2017
Brazil	2012-2017
Italy	2014-2017
Netherlands	2012-2017
Sweden	2011-2017
United States	2016-2017

Schedule of Tax Reform Effect on Income Taxes

(in millions)	Increase (Decrease)(a)
Tax Act Provision	Income Tax Provision		Income Taxes Payable		Deferred Tax Assets and Liabilities			Other Long-term Liabilities
Reduction in U.S. Federal corporate rate	$	7.0	$	—	$	(7.0	)	$	—
One-time repatriation transition tax	7.7		1.0		—			6.7
Revision to deduction for executive compensation	0.8		—		(0.8		)	—
Tax Act impact as of and for the year ended December 31, 2017	$	15.5	$	1.0	$	(7.8	)	$	6.7

(a)    Reflects provisional amounts reported in results until full accounting for the income tax effect is complete.