INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes - Schedule of Income Before Income Taxes and Applicable Provision for (Benefit from) Income Taxes

	Year Ended December 31,
	2012			2011			2010
Income from continuing operations before income taxes:
United States	$	87.2		$	48.9		$	31.3
Foreign		7.2			40.7			48.5
	$	94.4		$	89.6		$	79.8
Provision for (benefit from) income taxes:
United States federal	$	41.8		$	34.4		$	(219.4	)
State and local		(9.6	)		(3.6	)		(44.5	)
Foreign		11.5			6.0			16.7
	$	43.7		$	36.8		$	(247.2	)
Current:
United States federal	$	2.2		$	0.9		$	0.9
State and local		2.4			0.8			(4.3	)
Foreign		10.7			21.7			15.5
		15.3			23.4			12.1
Deferred:
United States federal		73.4			60.1			(211.1	)
State and local		(5.2	)		(1.3	)		(38.4	)
Foreign		3.0			(14.4	)		4.4
		71.2			44.4			(245.1	)
Benefits of operating loss carryforwards:
United States federal		(33.8	)		(26.6	)		(9.2	)
State and local		(6.8	)		(3.1	)		(1.8	)
Foreign		(2.2	)		(1.3	)		(3.2	)
		(42.8	)		(31.0	)		(14.2	)
	$	43.7		$	36.8		$	(247.2	)

Income Taxes - Reconciliation of Tax Expense to Statutory Federal Income Tax Rate

The actual tax on income before income taxes is reconciled to the applicable statutory federal income tax rate as follows:

	Year Ended December 31,
	2012			2011			2010
Computed expected tax expense	$	33.0		$	31.4		$	27.9
State and local taxes, net of U.S. federal income tax benefit		4.0			(2.4	)		(0.1	)
Foreign and U.S. tax effects attributable to operations outside the U.S.		(3.8	)		3.8			(5.1	)
Reduction in valuation allowance		(15.8	)		(16.9	)		(292.2	)
Foreign dividends and earnings taxable in the U.S.		12.7			15.2			14.5
Restructuring charges and litigation loss contingency for which there is no tax benefit		11.1			—			—
Other		2.5			5.7			7.8
Tax expense	$	43.7		$	36.8		$	(247.2	)

Income Taxes - Components of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities at December 31, 2012 and 2011 were comprised of the following:

	December 31,
	2012			2011
Deferred tax assets:
Inventories	$	3.6		$	3.6
Net operating loss carryforwards - U.S.		153.4			185.8
Net operating loss carryforwards – foreign		51.1			82.8
Employee benefits		98.9			101.1
State and local taxes		2.3			2.2
Sales related reserves		31.4			32.9
Other		32.5			32.9
Total gross deferred tax assets		373.2			441.3
Less valuation allowance		(70.6	)		(120.0	)
Total deferred tax assets, net of valuation allowance		302.6			321.3
Deferred tax liabilities:
Plant, equipment and other assets		(17.0	)		(17.6	)
Foreign currency translation adjustment		(1.1	)		(1.8	)
Other		(21.0	)		(20.4	)
Total gross deferred tax liabilities		(39.1	)		(39.8	)
Net deferred tax assets	$	263.5		$	281.5

Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

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

Balance at January 1, 2011	$	44.1
Increase based on tax positions taken in a prior year		5.1
Decrease based on tax positions taken in a prior year		(3.7	)
Increase based on tax positions taken in the current year		6.3
Decrease related to settlements with taxing authorities and changes in law		(1.0	)
Decrease resulting from the lapse of statutes of limitations		(4.8	)
Balance at December 31, 2011	$	46.0
Increase based on tax positions taken in a prior year		8.5
Decrease based on tax positions taken in a prior year		(4.8	)
Increase based on tax positions taken in the current year		6.0
Decrease resulting from the lapse of statutes of limitations		(5.8	)
Balance at December 31, 2012	$	49.9