Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes

Schedule of significant components of the Company's deferred income tax liabilities and assets

	December 31,
	2014			2013
	(in millions)
Deferred income tax liabilities:
Excess tax over book depreciation	$	20.9		$	22.4
Intangibles		50.6			28.2
Goodwill		17.2			15.4
Other		4.5			3.8
Total deferred tax liabilities		93.2			69.8
Deferred income tax assets:
Accrued expenses		20.2			21.3
Capital loss carry forward		6.2			6.1
Net operating loss carry forward		12.2			10.9
Inventory reserves		10.8			12.3
Pension—accumulated other comprehensive income		22.7			16.3
Other		6.2			3.7
Total deferred tax assets		78.3			70.6
Less: valuation allowance		(12.5	)		(13.1	)
Net deferred tax assets		65.8			57.5
Net deferred tax liabilities	$	(27.4	)	$	(12.3	)

Schedule of pre-tax income upon which provision for income taxes from continuing operations is based

	Years Ended December 31,
	2014		2013		2012
	(in millions)
Domestic	$	44.2	$	21.6	$	27.3
Foreign		38.9		66.2		72.9
	$	83.1	$	87.8	$	100.2

Schedule of provision for income taxes from continuing operations

	Years Ended December 31,
	2014			2013			2012
	(in millions)
Current tax expense:
Federal	$	12.8		$	12.8		$	5.0
Foreign		20.4			19.7			21.5
State		2.7			2.5			1.3
		35.9			35.0			27.8
Deferred tax expense (benefit):
Federal		2.1			(5.0	)		4.4
Foreign		(5.2	)		(2.3	)		(3.5	)
State		—			(0.8	)		1.1
		(3.1	)		(8.1	)		2.0
	$	32.8		$	26.9		$	29.8

Reconciliation of federal statutory taxes to actual income taxes reported from continuing operations

	Years Ended December 31,
	2014			2013			2012
	(in millions)
Computed expected federal income expense	$	29.1		$	30.8		$	35.0
State income taxes, net of federal tax benefit		2.1			1.0			1.5
Foreign tax rate differential		(4.2	)		(5.7	)		(7.4	)
Goodwill impairment		3.2			—			—
Other, net		2.6			0.8			0.7
	$	32.8		$	26.9		$	29.8