Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes

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

	December 31,
	2015			2014
	(in millions)
Deferred income tax liabilities:
Excess tax over book depreciation	$	16.2		$	20.9
Intangibles		48.1			50.6
Goodwill		17.8			17.2
Other		4.5			4.5
Total deferred tax liabilities		86.6			93.2
Deferred income tax assets:
Accrued expenses		26.8			20.2
Capital loss carry forward		3.6			6.2
Net operating loss carry forward		8.9			12.2
Inventory reserves		13.1			10.8
Pension—accumulated other comprehensive income					22.7
Other		14.0			6.2
Total deferred tax assets		66.4			78.3
Less: valuation allowance		(9.5	)		(12.5	)
Net deferred tax assets		56.9			65.8
Net deferred tax liabilities	$	(29.7	)	$	(27.4	)

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

	Years Ended December 31,
	2015			2014		2013
	(in millions)
Domestic	$	(25.8	)	$	44.2	$	21.6
Foreign	$	(85.2	)		38.9		66.2
	$	(111.0	)	$	83.1	$	87.8

Schedule of provision for income taxes from continuing operations

	Years Ended December 31,
	2015			2014			2013
	(in millions)
Current tax expense:
Federal		3.4		$	12.8		$	12.8
Foreign		18.1			20.4			19.7
State		2.0			2.7			2.5
		23.5			35.9			35.0
Deferred tax expense (benefit):
Federal		(13.6	)		2.1			(5.0	)
Foreign		(7.0	)		(5.2	)		(2.3	)
State		(1.0	)		—			(0.8	)
		(21.6	)		(3.1	)		(8.1	)
	$	1.9		$	32.8		$	26.9

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

	Years Ended December 31,
	2015			2014			2013
	(in millions)
Computed expected federal income expense	$	(38.8	)	$	29.1		$	30.8
State income taxes, net of federal tax benefit		0.8			2.1			1.0
Foreign tax rate differential		7.5			(4.2	)		(5.7	)
Goodwill impairment		29.0			3.2			—
Change in valuation allowance		(1.8	)		—			—
Other, net		5.2			2.6			0.8
		1.9		$	32.8		$	26.9