Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income (loss) before income taxes and noncontrolling interest

Income from continuing operations before income taxes consisted of the following:

	Years ended December 31
In millions	2021		2020		2019
Federal (1)	$	(11.2)	$	7.2	$	(1.6)
International (2)	638.0		424.9		409.1
Income from continuing operations before income taxes	$	626.8	$	432.1	$	407.5

(1) “Federal” reflects United Kingdom (“U.K.”) income (loss) from continuing operations before income taxes.

(2) “International” reflects non-U.K. income from continuing operations before income taxes.

Provision for Income Taxes

The provision for income taxes consisted of the following:

	Years ended December 31
In millions	2021		2020		2019
Currently payable (receivable)
Federal (1)	$	—	$	0.1	$	—
International (2)	79.8		70.3		64.2
Total current taxes	79.8		70.4		64.2
Deferred
International (2)	(9.0)		4.6		(18.4)
Total deferred taxes	(9.0)		4.6		(18.4)
Total provision for income taxes	$	70.8	$	75.0	$	45.8

(1) “Federal” represents U.K. taxes.

(2) “International” represents non-U.K. taxes.

Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate

Reconciliations of the federal statutory income tax rate to our effective tax rate were as follows:

	Years ended December 31
Percentages	2021		2020		2019
U.K. federal statutory income tax rate	19.0	%	19.0	%	19.0	%
Tax effect of international operations (1)	(5.1)		(3.9)		(8.2)
Change in valuation allowances	(0.2)		1.3		1.1
Excess tax benefits on stock-based compensation	(1.1)		(0.7)		(0.7)
Base erosion and anti-abuse tax	—		1.7		—
Unrecognized tax benefits	(1.3)		—		—
Effective tax rate	11.3	%	17.4	%	11.2	%

(1) The tax effect of international operations consists of non-U.K. jurisdictions.

Schedule of Unrecognized Tax Benefits Roll Forward

Reconciliations of the beginning and ending gross unrecognized tax benefits were as follows:

	Years ended December 31
In millions	2021		2020		2019
Beginning balance	$	46.3	$	47.4	$	51.4
Gross increases for tax positions in prior periods	2.5		0.6		0.4
Gross decreases for tax positions in prior periods	(0.7)		—		(0.8)
Gross increases based on tax positions related to the current year	0.2		0.2		0.4
Gross decreases related to settlements with taxing authorities	(0.9)		(1.1)		(2.9)
Reductions due to statute expiration	(10.1)		(0.8)		(1.1)
Ending balance	$	37.3	$	46.3	$	47.4

Deferred Taxes

Deferred taxes were recorded in the Consolidated Balance Sheets as follows:

	December 31
In millions	2021		2020
Other non-current assets	$	23.1	$	27.4
Deferred tax liabilities	89.8		107.4
Net deferred tax liabilities	$	66.7	$	80.0

Tax Effects of Major Items Recorded as Deferred Tax Assets and Liabilities

The tax effects of the major items recorded as deferred tax assets and liabilities were as follows:

	December 31
In millions	2021		2020
Deferred tax assets
Accrued liabilities and reserves	$	57.8	$	59.4
Pension and other post-retirement compensation and benefits	24.6		26.2
Employee compensation and benefits	18.2		18.5
Tax loss and credit carryforwards	729.7		744.5
Interest limitations	67.5		49.9
Total deferred tax assets	897.8		898.5
Valuation allowance	727.2		747.3
Deferred tax assets, net of valuation allowance	170.6		151.2
Deferred tax liabilities
Property, plant and equipment	10.2		5.3
Goodwill and other intangibles	210.4		209.0
Other liabilities	16.7		16.9
Total deferred tax liabilities	237.3		231.2
Net deferred tax liabilities	$	66.7	$	80.0