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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Earnings Before Income Taxes

Earnings before income taxes for the years ended December 31, 2019, 2018 and 2017 consisted of the following components:
 
2019
 
2018
 
2017
United States
$
1,902.2

 
$
924.2

 
$
783.6

Other
325.2

 
274.2

 
251.1

 
$
2,227.4

 
$
1,198.4

 
$
1,034.7
Schedule of Components of Income Tax Expense (Benefit)
Components of income tax expense for the years ended December 31, 2019, 2018 and 2017 were as follows:
 
2019
 
2018
 
2017
Current:
 
 
 
 
 
Federal
$
391.6

 
$
155.4

 
$
316.0

State
78.3

 
56.2

 
29.8

Foreign
79.8

 
105.1

 
89.9

Deferred:
 

 
 

 
 

Federal
(43.1
)
 
(24.2
)
 
(358.3
)
State
2.6

 
(25.8
)
 
(3.7
)
Foreign
(49.7
)
 
(12.7
)
 
(10.8
)
 
$
459.5

 
$
254.0

 
$
62.9
Schedule of Effective Income Tax Rate Reconciliation
Reconciliations between the statutory federal income tax rate and the effective income tax rate for the years ended December 31, 2019, 2018 and 2017 were as follows:
 
2019
 
2018
 
2017
Federal statutory rate
21.0
 %
 
21.0
 %
 
35.0
 %
Foreign rate differential
(0.1
)
 
0.3

 
(2.6
)
R&D tax credits
(0.6
)
 
(0.9
)
 
(0.8
)
State taxes, net of federal benefit
1.6

 
2.4

 
1.9

Section 199 deduction
—

 
—

 
(1.3
)
Stock-based compensation
(1.3
)
 
(3.1
)
 
(3.9
)
Tax Cuts and Jobs Act of 2017 - enactment date and measurement period adjustments
—

 
(1.2
)
 
(20.8
)
Global intangible low taxed income (GILTI) inclusion
0.2

 
1.1

 
—

Foreign-derived intangible income (FDII) deduction
(0.5
)
 
(1.2
)
 
—

Tax on planned remittances of foreign earnings
0.3

 
1.3

 
—

Divestitures
1.8

 
—

 
—

Foreign entity restructuring
(1.8
)
 
—

 
—

Other, net
—

 
1.5

 
(1.4
)
 
20.6
 %
 
21.2
 %
 
6.1
 %
Schedule of Deferred Tax Assets and Liabilities
Components of the deferred tax assets and liabilities at December 31 were as follows:
 
2019
 
2018
Deferred tax assets:
 
 
 
Reserves and accrued expenses
$
175.2

 
$
156.5

Inventories
4.3

 
4.5

Net operating loss carryforwards
111.2

 
67.9

R&D credits
4.1

 
6.1

Valuation allowance
(36.3
)
 
(26.4
)
Outside basis difference on investments held for sale
—

 
2.7

Lease liability 1
64.0

 
—

Total deferred tax assets
$
322.5

 
$
211.3

Deferred tax liabilities:
 

 
 

Reserves and accrued expenses
$
15.5

 
$
14.3

Amortizable intangible assets
1,229.9

 
1,043.0

Plant and equipment
10.8

 
6.6

Accrued tax on unremitted foreign earnings
17.1

 
16.3

Outside basis difference on investments held for sale
—

 
10.0

ROU asset 1
61.7

 
—

Total deferred tax liabilities
$
1,335.0

 
$
1,090.2



1 Upon adoption of ASC 842, deferred taxes associated with previously recognized deferred rent liabilities were reclassified into deferred taxes for ROU asset and lease liability.
Schedule of Unrecognized Tax Benefits Roll Forward A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
 
2019
 
2018
 
2017
Beginning balance
$
63.6

 
$
52.2

 
$
38.7

Additions for tax positions of prior periods
2.9

 
2.4

 
24.8

Additions for tax positions of the current period
4.2

 
6.9

 
4.2

Additions due to acquisitions
1.9

 
4.4

 
—

Reductions for tax positions of prior periods
(0.3
)
 
(0.4
)
 
(11.2
)
Reductions attributable to settlements with taxing authorities
—

 
—

 
(1.5
)
Reductions attributable to lapses of applicable statute of limitations
(2.5
)
 
(1.9
)
 
(2.8
)
Ending balance
$
69.8

 
$
63.6

 
$
52.2