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Income Taxes Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Income Tax Disclosure [Abstract]            
Income tax expense using the statutory rate in effect       $ 172.9 $ 165.6 $ 186.2
Tax effect of:            
Difference between U.S. and foreign tax rate       44.1 47.6 46.1
GILTI tax expense (benefit) recognized by the Company $ (4.2) $ 2.0 $ 2.2 (14.5) 2.7 11.8
Tax credits       (13.8) (16.8) (14.2)
State and local income tax provision, net       12.5 11.5 7.5
Withholding tax       9.9 9.5 11.2
Foreign exchange [1]       (3.4) 35.9 21.8
Mexican fuel excise tax credit, net [2]       0.0 (12.8) 0.0
Change in U.S. tax rate       0.0 0.0 (2.2)
Deemed mandatory repatriation       0.0 0.0 (18.7)
Other, net       (3.6) 4.4 8.0
Total income tax expense       $ 204.1 $ 247.6 $ 257.5
U.S. federal statutory income tax rate       21.00% 21.00% 21.00%
Tax rate effect of:            
Difference between U.S. and foreign tax rate       5.40% 6.00% 5.20%
Global intangible low-taxed income (GILTI) tax, net       (1.80%) 0.30% 1.30%
Tax credits       (1.70%) (2.10%) (1.60%)
State and local income tax provision, net       1.50% 1.50% 0.80%
Withholding tax       1.20% 1.20% 1.30%
Foreign exchange [1]       (0.40%) 4.60% 2.50%
Mexican fuel excise tax credit, net [2]       0.00% (1.60%) 0.00%
Change in U.S. tax rate       0 0 (0.003)
Deemed mandatory repatriation       0 0 (0.021)
Other, net       (0.40%) 0.50% 0.90%
Effective income tax rate       24.80% 31.40% 29.00%
[1] Mexican income taxes are paid in Mexican pesos, and as a result, the effective income tax rate reflects fluctuations in the value of the Mexican peso against the U.S. dollar. The foreign exchange impact on income taxes includes the gain or loss from the revaluation of the Company’s net U.S. dollar-denominated monetary liabilities into Mexican pesos which is included in Mexican taxable income under Mexican tax law. As a result, a strengthening of the Mexican peso against the U.S. dollar for the reporting period will generally increase the Mexican cash tax obligation and the effective income tax rate, and a weakening of the Mexican peso against the U.S. dollar for the reporting period will generally decrease the Mexican cash tax obligation and the effective tax rate. To hedge its exposure to this cash tax risk, the Company enters into foreign currency derivative contracts, which are measured at fair value each period and any change in fair value is recognized in foreign exchange gain (loss) within the consolidated statements of income. Refer to Note 11, Derivative Instruments in the consolidated financial statements for further information.
[2] Not eligible for Mexican fuel excise tax credit subsequent to April 30, 2019. See previous discussion within footnote.