Income Taxes (Tables)

3 Months Ended

Mar. 31, 2019

Accrued Income Taxes [Abstract]

Income Tax Benefit (Expense) Reconciliation Table

Income tax expense attributable to our loss from continuing operations before income taxes differs from the amounts computed using the applicable income tax rate as a result of the following factors:

	Three months ended
	March 31,
	2019			2018
	in millions
Computed “expected” tax benefit (a)	$	53.0		$	124.9
Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates (b)	(79.1		)	(51.5		)
Non-deductible or non-taxable foreign currency exchange results	33.0			(80.6		)
Non-deductible or non-taxable interest and other items	(22.8		)	(13.8		)
Change in valuation allowances	(12.6		)	517.6
International rate differences (c)	12.2			6.8
Enacted tax law and rate changes	(9.4		)	13.8
Mandatory Repatriation Tax	—			(1,210.5		)
Other, net	(2.1		)	(16.7		)
Total income tax expense	$	(27.8	)	$	(710.0	)

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(a) The statutory or “expected” tax rates are U.K. rate of 19.0%.

(b) These amounts reflect the net impact of differences in the treatment of income and loss items between financial reporting and tax accounting related to investments in subsidiaries and affiliates including the effects of foreign earnings.

(c)

Adjustments (either a benefit or an expense) to the “expected” tax benefit are for statutory rates in jurisdictions in which we operate that are outside of the U.K.