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Income Taxes (Tables)
 3 Months Ended
Mar. 31, 2020
Accrued Income Taxes [Abstract]  
Income Tax Benefit (Expense) Reconciliation Table

Income tax expense attributable to our earnings (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,
 
2020
 
2019
 
in millions
 
 
 
 
Computed “expected” tax benefit (expense) (a)
$
(192.1
)
 
$
53.0

Non-deductible or non-taxable foreign currency exchange results
153.6

 
33.0

Change in valuation allowances
(88.7
)
 
(12.6
)
Tax benefit associated with technology innovation (b)
44.8

 
—

Enacted tax law and rate changes
36.1

 
(9.4
)
Non-deductible or non-taxable interest and other items
(20.4
)
 
(22.8
)
International rate differences (c)
(16.1
)
 
12.2

Basis and other differences in the treatment of items associated with investments in subsidiaries and affiliates (d)
3.1

 
(79.1
)
Other, net
(0.4
)
 
(2.1
)
Total income tax expense
$
(80.1
)
 
$
(27.8
)
_______________

(a)
The statutory or “expected” tax rates are the U.K. rates of 17.5% for the 2020 period and 19.0% for the 2019 period. The statutory rate for the 2020 period represents the blended rate in effect for the year ended December 31, 2020 based on the 19.0% statutory rate that was in effect for the first quarter of 2020 and the 17.0% statutory rate that is in effect for the remainder of 2020. In March 2020, it was announced that the U.K. corporate tax rate will remain at 19.0% and not reduce to 17.0% from April 1, 2020. The U.K. rate change has yet to be enacted; therefore, the impact on our deferred tax balances will not be recorded until the quarter of enactment.

(b)
Amount reflects the recognition of the innovation income tax deduction in Belgium, including the one-time effect of deductions related to prior periods.

(c)
Amounts reflect adjustments (either a benefit or expense) to the “expected” tax benefit (expense) for statutory rates in jurisdictions in which we operate outside of the U.K.

(d)
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.