INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Before Income Taxes and Provision for Income Taxes

The Company's income before income taxes and the applicable provision for income taxes are as follows:

	Year Ended December 31,
	2018			2017
Loss from continuing operations before income taxes:
United States	$	(292.2	)	$	(184.1	)
Foreign	6.6			27.2
	$	(285.6	)	$	(156.9	)
Provision for income taxes:
United States federal	$	(25.8	)	$	9.3
State and local	(3.8		)	8.8
Foreign	33.0			5.8
	$	3.4		$	23.9
Current:
United States federal	$	(8.9	)	$	(12.0	)
State and local	(0.9		)	1.7
Foreign	10.2			17.5
	0.4			7.2
Deferred:
United States federal	$	(16.9	)	$	21.3
State and local	(2.9		)	7.1
Foreign	22.8			(11.7		)
	$	3.0		$	16.7
Total Provision for income taxes	$	3.4		$	23.9

Reconciliation of Statutory Federal Income Tax Rate

The actual tax on income before income taxes is reconciled to the applicable statutory federal income tax rate in the following table:

	Year Ended December 31,
	2018			2017
Computed income tax benefit	$	(60.0	)	$	(54.9	)
State and local taxes, net of U.S. federal income tax benefit	(3.0		)	5.9
Foreign and U.S. tax effects attributable to operations outside the U.S.	(9.3		)	(6.5		)
Net establishment (release) of valuation allowance	75.0			(1.2		)
Net release of uncertain tax positions	(4.3		)	(2.8		)
Foreign dividends and earnings taxable in the U.S.	12.8			1.8
Impairment for which there is no tax benefit	4.3			0.4
Tax effect of basis reclassification	—			23.7
Impact of the Tax Act	(7.7		)	39.8
Other	(4.4		)	17.7
Total provision for income taxes	$	3.4		$	23.9

Deferred Tax Assets and Liabilities

The Company's deferred tax assets and liabilities at December 31, 2018 and 2017 were comprised of the following:

	December 31,
	2018			2017
Deferred tax assets:
Inventories	$	23.6		$	21.2
Net operating loss carryforwards - U.S.	143.8			143.7
Net operating loss carryforwards - foreign	69.7			47.0
Disallowed Interest Carryover - U.S.	42.8			—
Employee benefits	53.6			54.5
Sales-related reserves	21.1			19.1
Foreign currency translation adjustment	1.1			10.3
Other	50.4			67.7
Total gross deferred tax assets	406.1			363.5
Less valuation allowance	(165.7		)	(90.7		)
Total deferred tax assets, net of valuation allowance	240.4			272.8
Deferred tax liabilities:
Plant, equipment and other assets	(32.6		)	(21.7		)
Intangibles	(81.5		)	(95.0		)
Other	(12.1		)	(36.0		)
Total gross deferred tax liabilities	(126.2		)	(152.7		)
Net deferred tax assets	$	114.2		$	120.1

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of the unrecognized tax benefits is provided in the following table:

	Tax			Interest and Penalties			Total
Balance at January 1, 2017	$	82.7		$	10.6		$	93.3
Increase based on tax positions taken in a prior year	9.1			1.5			10.6
Decrease based on tax positions taken in a prior year (a)	(17.2		)	(1.5		)	(18.7		)
Increase based on tax positions taken in the current year	11.0			0.2			11.2
Decrease resulting from the lapse of statutes of limitations	(7.3		)	(1.8		)	(9.1		)
Balance at December 31, 2017	78.3			9.0			87.3
Increase based on tax positions taken in a prior year	2.8			5.4			8.2
Decrease based on tax positions taken in a prior year	(15.5		)	(3.8		)	(19.3		)
Increase based on tax positions taken in the current year	6.5			0.2			6.7
Decrease resulting from the lapse of statutes of limitations	(4.8		)	(1.0		)	(5.8		)
Balance at December 31, 2018	$	67.3		$	9.8		$	77.1

^(a)  Includes a provisional amount for the expected impact of the Tax Act on the Company’s unrecognized tax benefits.