Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income from Continuing Operations before Taxes

(Loss) income from continuing operations, before taxes for the years ended December 31 was as follows:

	2017			2016			2015
United States	$	(147.6	)	$	(403.0	)	$	(230.3	)
Foreign	268.3			434.2			253.0
Total	$	120.7		$	31.2		$	22.7

Provision for Income Taxes

The provision for income taxes for the years ended December 31 was as follows:

	2017			2016			2015
Federal:
Current	$	—		$	—		$	—
Deferred	(34.0		)	—			668.3
Total Federal	(34.0		)	—			668.3
Foreign:
Current	130.6			128.5			173.9
Deferred	3.8			(4.2		)	(24.3		)
Total Foreign	134.4			124.3			149.6
State and Local:
Current	.3			.3			.7
Deferred	—			—			.6
Total State and other	.3			.3			1.3
Total	$	100.7		$	124.6		$	819.2

Effective Tax Rate

The effective tax rate for the years ended December 31 was as follows:

	2017		2016		2015
Statutory federal rate	35.0	%	35.0	%	35.0	%
State and local taxes, net of federal tax benefit	.2		.6		2.5
Tax on foreign income	6.0		(24.4	)	141.4
Tax on uncertain tax positions	(3.6	)	34.1		8.2
Venezuela deconsolidation, devaluation and highly inflationary accounting	—		23.9		168.1
Reorganizations	—		(93.6	)	(173.5	)
U.S. Tax Reform	(24.7	)	—		—
Net change in valuation allowances	62.4		375.1		3,395.6
Imputed royalties and associated non-deductible expenses	9.5		50.3		41.2
Research credits	(1.3	)	(5.4	)	(8.9	)
Other	(.1	)	3.8		(.8	)
Effective tax rate	83.4	%	399.4	%	3,608.8	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) resulting from temporary differences in the recognition of income and expense for tax and financial reporting purposes at December 31 consisted of the following:

	2017			2016
Deferred tax assets:
Tax loss and deduction carryforwards	$	2,022.1		$	2,033.0
Tax credit carryforwards	981.0			874.0
All other future deductions	471.0			744.0
Valuation allowance	(3,217.7		)	(3,296.0		)
Total deferred tax assets	256.4			355.0
Deferred tax liabilities	$	(74.9	)	$	(215.1	)
Net deferred tax assets	$	181.5		$	139.9

Deferred Tax Assets (Liabilities) Classification

Deferred tax assets (liabilities) at December 31 were classified as follows:

	2017			2016
Deferred tax assets:
Other assets	$	203.8		$	162.1
Total deferred tax assets	203.8			162.1
Deferred tax liabilities:
Long-term income taxes	$	(22.3	)	$	(22.2	)
Total deferred tax liabilities	(22.3		)	(22.2		)
Net deferred tax assets	$	181.5		$	139.9

Reconciliation of Beginning and Ending Amount of Unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

Balance at December 31, 2014	$	56.7
Additions based on tax positions related to the current year	3.5
Additions for tax positions of prior years	5.7
Reductions for tax positions of prior years	(1.5		)
Reductions due to lapse of statute of limitations	(.4		)
Reductions due to settlements with tax authorities	(11.0		)
Balance at December 31, 2015	53.0
Additions based on tax positions related to the current year	1.8
Additions for tax positions of prior years	9.4
Reductions for tax positions of prior years	(2.8		)
Reductions due to lapse of statute of limitations	(.7		)
Reductions due to settlements with tax authorities	(2.0		)
Balance at December 31, 2016	58.7
Additions based on tax positions related to the current year	1.4
Additions for tax positions of prior years	17.6
Reductions for tax positions of prior years	(7.9		)
Reductions due to lapse of statute of limitations	(3.1		)
Reductions due to settlements with tax authorities	(18.0		)
Balance at December 31, 2017	$	48.6

Tax Years Remaining

As of December 31, 2017, the tax years that remained subject to examination by major tax jurisdiction for our most significant subsidiaries were as follows:

Jurisdiction	Open Years
Brazil	2012-2017
Mexico	2012-2017
Philippines	2014-2017
Poland	2012-2017
Russia	2014-2017
United Kingdom	2016-2017
United States (Federal)	2016-2017