Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Components of Income (Loss) before Income Taxes

The components of income (loss) before income taxes for the periods indicated were as follows (in millions):



	For the Years Ended December 31,
	2017		2016		2015
Domestic	$	334.9	$	202.4	$	(26.5	)
Foreign	36.9		23.4		(41.2		)
Total	$	371.8	$	225.8	$	(67.7	)

Schedule of Provision for Income Taxes

The provision for income taxes for the periods indicated were as follows (in millions):



	For the Years Ended December 31,
	2017			2016			2015
Current:
Federal	$	(6.0	)	$	85.8		$	(4.5	)
Foreign	11.5			3.0			9.4
State and local	(0.8		)	6.7			3.3
	$	4.7		$	95.5		$	8.2
Deferred:
Federal	$	18.2		$	6.1		$	25.7
Foreign	(7.5		)	(6.8		)	(19.9		)
State and local	7.6			(3.0		)	(2.0		)
	$	18.3		$	(3.7	)	$	3.8
Provision for income taxes	$	22.9		$	91.8		$	12.0

Schedule of Deferred Tax Assets and Liabilities

The tax effects of significant items comprising the Company’s net deferred tax liability as of the dates indicated were as follows (in millions):



	December 31,
	2017			2016
Deferred tax assets:
Accrued insurance	$	24.6		$	31.1
Operating loss carryforwards and tax credits	54.9			34.9
Unrealized gains and losses	11.4			26.3
Compensation and benefits	7.5			24.1
Bad debt	1.2			4.7
Other	7.9			12.4
Valuation allowance	(40.5		)	(21.4		)
Total deferred tax assets	$	67.0		$	112.1
Deferred tax liabilities:
Property and equipment	$	104.1		$	126.6
Goodwill	56.7			72.8
Other intangible assets	28.7			32.9
Gain on remeasurement of equity investee	6.9			10.9
Long-term contracts	11.3			20.2
Investments in unconsolidated entities	52.8			0.0
Other	11.0			15.3
Total deferred tax liabilities	$	271.5		$	278.7
Net deferred tax liabilities	$	(204.5	)	$	(166.6	)

Schedule of Effective Tax Rate Reconciliation

A reconciliation of the U.S. statutory federal income tax rate related to pretax income to the effective tax rate for the periods indicated is as follows:



	For the Years Ended December 31,
	2017		2016		2015
U.S. statutory federal rate applied to pretax income (loss)	35.0	%	35.0	%	35.0	%
State and local income taxes, net of federal benefit	2.0		2.6		(1.0	)
Foreign tax rate differential	0.3		(0.1	)	(14.4	)
Non-deductible expenses	2.2		4.4		(13.5	)
Goodwill and intangible assets	(0.0	)	(0.7	)	(17.7	)
Change in tax rate	(32.3	)	(1.9	)	(3.6	)
Domestic production activities deduction	(0.2	)	(2.9	)	(1.0	)
Other	(0.7	)	(0.1	)	(1.4	)
Tax credits	(2.8	)	(0.0	)	(0.0	)
Valuation allowance for deferred tax assets	2.7		4.3		0.0
Effective income tax rate	6.2	%	40.6	%	(17.6	)%

Rollforward of Uncertain Tax Positions

A reconciliation of the beginning and ending amount of uncertain tax positions including interest and penalties is as follows (in millions):



	For the Years Ended December 31,
	2017		2016		2015
Beginning balance	$	—	$	—	$	—
Additions based on tax positions related to the current year	3.2		—		—
Additions for tax positions of prior years	4.9		—		—
Ending balance	$	8.1	$	—	$	—