Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Income before Income Tax, Domestic and Foreign

For financial reporting purposes, income before income taxes includes the following components (in millions):



	Year Ended
	Dec 31, 2015			Dec 31, 2014			Dec 31, 2013
United States	$	(30.2	)	$	(5.1	)	$	2.0
Foreign	(109.1		)	(562.3		)	(8.9		)
Total	$	(139.3	)	$	(567.4	)	$	(6.9	)

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consisted of the following (in millions):



	Year Ended
	Dec 31, 2015			Dec 31, 2014			Dec 31, 2013
Current tax expense (benefit):
Federal	$	(0.2	)	$	(7.4	)	$	(11.5	)
State	(1.1		)	0.5			(0.2		)
Foreign	11.2			21.3			44.2
Deferred tax expense (benefit):
Federal	(20.1		)	15.1			9.0
State	(0.5		)	0.7			(0.6		)
Foreign	(4.0		)	(23.6		)	(10.4		)
Total	$	(14.7	)	$	6.6		$	30.5

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of reported income tax expense (benefit) to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income is as follows (in millions):



	Year Ended
	Dec 31, 2015			Dec 31, 2014			Dec 31, 2013
Income tax expense (benefit) at Federal statutory tax rate	$	(48.8	)	$	(198.6	)	$	(2.4	)
Foreign tax rate differential	11.6			17.6			0.2
Foreign withholding tax and surcharges	4.2			5.6			7.2
Change in valuation allowance	31.3			89.6			23.1
Change in uncertain tax positions	(8.6		)	(11.1		)	9.3
Nondeductible / nontaxable items⁽¹⁾	(7.2		)	94.3			(6.0		)
Other (net)	2.8			9.2			(0.9		)
Total	$	(14.7	)	$	6.6		$	30.5

(1) For the year ended December 31, 2015, the major component consists of a $10.8 million tax benefit related to the exit of certain businesses. For the year ended December 31, 2014, the major components consist of $27.7 million for goodwill impairments, $8.4 million for the FCPA accrual and $78.1 million for non-deductible Venezuela devaluation and functional currency adjustments, partially offset by $32.9 million for Venezuela inflation adjustments

Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities were as follows (in millions):



	Dec 31, 2015			Dec 31, 2014
Deferred tax assets:
Net operating loss carryforwards	$	135.0		$	94.0
Pension and retiree benefits accruals	35.9			41.8
Inventory	7.4			7.1
Depreciation and fixed assets	4.0			6.7
Tax credit carryforwards	8.8			9.8
Other	94.1			63.9
Valuation allowance	(139.5		)	(118.5		)
Total deferred tax assets	145.7			104.8
Deferred tax liabilities:
Convertible debt discount	209.2			186.2
Inventory	1.0			1.8
Depreciation and fixed assets	28.3			40.0
Intangibles	4.3			9.4
Other	27.6			12.1
Total deferred tax liabilities	270.4			249.5
Net deferred tax assets (liabilities)	$	(124.7	)	$	(144.7	)

Summary of Income Tax Examinations

The Company has recognized deferred tax assets of approximately $50.1 million for gross tax loss carryforwards in various taxing jurisdictions as follows (in millions):



	Tax Loss
Jurisdiction	Carryforward		Expiration
United States	$	113.2	2033-2035
Zambia	14.4		2019-2020
France	12.2		Indefinite
Others	8.7		Various
Total	$	148.5

Summary of Income Tax Contingencies

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits for the year:



(in millions)	Dec 31, 2015			Dec 31, 2014			Dec 31, 2013
Unrecognized Tax Benefit — Beginning balance	$	28.1		$	57.2		$	62.0
Gross Increases — Tax Positions in Prior Period	2.1			1.1			1.8
Gross Decreases — Tax Positions in Prior Period	(0.6		)	(1.2		)	(0.6		)
Gross Increases — Tax Positions in Current Period	2.5			6.5			8.5
Dispositions	(0.8		)	—			—
Settlements	—			(0.4		)	(4.2		)
Lapse of Statute of Limitations	(5.6		)	(15.3		)	(3.3		)
Foreign Currency Translation	(3.2		)	(19.8		)	(7.0		)
Unrecognized Tax Benefit — Ending Balance	$	22.5		$	28.1		$	57.2