Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Component of Income Taxes Expenses

	Years ended December 31,
	2013			2014			2015
	(In millions)
Pre-tax income (loss):
United States	$	(70.4	)	$	40.1		$	(35.3	)
Non-U.S. subsidiaries		(147.5	)		71.9			(38.5	)
Total	$	(217.9	)	$	112.0		$	(73.8	)
Expected tax expense (benefit) at U.S. federal statutory income tax  rate of 35%	$	(76.3	)	$	39.2		$	(25.8	)
Non-U.S. tax rates		4.3			(4.1	)		.6
Incremental net benefit on earnings (losses) of non-U.S. and U.S. subsidiaries		(18.5	)		(2.2	)		(37.6	)
Valuation allowance		—			—			159.0
U.S. state income taxes, net		(3.4	)		4.1			(1.3	)
Adjustment to the reserve for uncertain tax positions, net		2.1			(3.7	)		.8
Nondeductible expenses		2.9			2.8			3.0
Tax rate changes		(.2	)		—			—
Other, net		(1.9	)		(3.6	)		(1.4	)
Provision for income taxes (benefit)	$	(91.0	)	$	32.5		$	97.3
Components of income tax expense (benefit):
Currently payable (refundable):
U.S. federal and state	$	9.1		$	7.4		$	7.6
Non-U.S.		(1.2	)		15.2			3.3
Total		7.9			22.6			10.9
Deferred income taxes (benefit):
U.S. federal and state		(57.9	)		3.8			(58.5	)
Non-U.S.		(41.0	)		6.1			144.9
Total		(98.9	)		9.9			86.4
Provision for income taxes (benefit)	$	(91.0	)	$	32.5		$	97.3
Comprehensive provision for income taxes (benefit) allocable to:
Net income (loss)	$	(91.0	)	$	32.5		$	97.3
Other comprehensive income (loss):
Marketable securities		5.1			(11.3	)		(4.1	)
Currency translation		5.5			(16.9	)		(17.3	)
Pension plans		14.1			(33.2	)		4.1
OPEB plans		1.0			(1.2	)		(.4	)
Interest rate swap		—			—			(1.7	)
Total	$	(65.3	)	$	(30.1	)	$	77.9

Components of Net Deferred Tax Liability

The components of the net deferred tax liability at December 31, 2014 and 2015 are summarized below. See Note 20.

	December 31,
	2014						2015
	Assets			Liabilities			Assets			Liabilities
	(In millions)
Tax effect of temporary differences related to:
Inventories	$	5.4		$	(5.2	)	$	3.7		$	(3.7	)
Marketable securities		—			(126.4	)		—			(98.2	)
Property and equipment		—			(109.2	)		—			(96.6	)
Accrued OPEB costs		4.8			—			4.0			—
Accrued pension costs		52.0			—			44.0			—
Currency revaluation on intercompany debt		5.6			—			18.6			—
Accrued environmental liabilities		38.8			—			39.9			—
Other deductible differences		34.7			—			45.7			—
Other taxable differences		—			(21.6	)		—			(21.7	)
Investments in subsidiaries and affiliates		—			(278.7	)		—			(238.8	)
Tax on unremitted earnings of non-U.S. subsidiaries		—			(2.6	)		—			(2.0	)
Tax loss and tax credit carryforwards		163.6			—			154.3			—
Valuation allowance		(.1	)		—			(168.9	)		—
Adjusted gross deferred tax assets (liabilities)		304.8			(543.7	)		141.3			(461.0	)
Netting of items by tax jurisdiction		(143.9	)		143.9			(140.0	)		(140.0	)
Net noncurrent deferred tax asset (liability)	$	160.9		$	(399.8	)	$	1.3		$	(321.0	)

Changes in Uncertain Tax Positions

The following table shows the changes in the amount of our uncertain tax positions (exclusive of the effect of interest and penalties) during 2013, 2014 and 2015:

	Years ended December 31,
	2013			2014			2015
	(In millions)
Unrecognized tax benefits:
Amount beginning of year	$	33.4		$	47.9		$	30.1
Net increase (decrease):
Tax positions taken in prior periods		.5			(19.6	)		(.4	)
Tax positions taken in current period		11.3			3.6			6.4
Lapse due to applicable statute of limitations		3.4			(.7	)		(6.0	)
Acquisition of BMI and LandWell		.1			—			—
Changes in currency exchange rates		(.8	)		(1.1	)		(1.3	)
Amount at end of year	$	47.9		$	30.1		$	28.8