INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2012

INCOME TAXES [Abstract]

Components of Income before Income Taxes

The components of income (loss) from continuing operations before income taxes are as follows (in millions):

	Year Ended December 31,
	2012			2011		2010
United States	$	(66.5	)	$	43.5	$	43.5
Foreign		24.9			35.5		22.6
Total	$	(41.6	)	$	79.0	$	66.1

Schedule of Provision for Income Taxes

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

	Year Ended December 31,
	2012			2011			2010
Current:
Federal	$	(5.4	)	$	13.6		$	9.5
State		0.3			2.2			2.3
Foreign		8.1			8.4			7.1
Total current		3.0			24.2			18.9
Deferred:
Federal		(16.5	)		0.5			4.7
State		(3.3	)		0.4			(0.2	)
Foreign		(16.8	)		(0.7	)		0.1
Total deferred		(36.6	)		0.2			4.6
TOTAL	$	(33.6	)	$	24.4		$	23.5

Reconciliation of Difference between Income Tax Expense and Computed Income Tax Expense Based on Federal Statutory Corporate Rate

A reconciliation of the difference between the income tax expense and the computed income tax expense based on the Federal statutory corporate rate is as follows (in millions):

	Year Ended December 31,
	2012					2011						2010
Income tax at Federal statutory rate	$	(14.5	)	35.0	%		$	27.6		35.0	%		$	23.1		35.0	%
Foreign taxes at rates different from the U.S. rate		(3.7	)	8.9				(0.9	)	(1.1	)			(1.4	)	(2.0	)
State and local income taxes and changes in valuation allowances, net of federal tax benefit		(2.1	)	(5.0	)			1.3		1.6				1.4		2.0
Changes in valuation allowances		(13.3	)	(31.9	)			(3.7	)	(4.7	)			(0.1	)	(0.2	)
Non-deductible items		0.1		0.2				0.1		0.1				0.7		1.1
Other items, net		(0.1	)	0.2				-		-				(0.2	)	(0.3	)
Income tax at Federal statutory rate	$	(33.6	)	80.8	%		$	24.4		30.9	%		$	23.5		35.6	%

Schedule of Deferred Tax Assets and Liabilities

The deferred tax assets and liabilities are comprised of the following (in millions):

	December 31,
	2012			2011
Assets:
Current:
Accrued expenses and other liabilities	$	12.1		$	13.6
Inventory		6.2			2.6
Valuation allowances		(2.2	)		(1.5	)
Total current assets	$	16.1		$	14.7
Non-current:
Net operating loss and credit carryforwards	$	25.7		$	23.4
Depreciation		2.6			3.6
Intangible & other		22.4			7.6
Valuation allowances		(8.9	)		(28.4	)
Total non-current assets	$	41.8		$	6.2
Liabilities :
Current :
Deductible assets	$	2.5		$	0.8
Other		-			4.3
Total current liabilities	$	2.5		$	5.1
Non-current:
Amortization	$	6.2		$	8.0
Depreciation		5.4			-
Other		-			.5
Total non-current liabilities	$	11.6		$	8.5