Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.7.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
The following table presents income (loss) from continuing operations before income taxes for U.S. and international operations based on the location of the entity to which such earnings are attributable:
 
Year Ended December 31,
 
2016
 
2015 As Adjusted (Note 2)
 
2014 As Adjusted (Note 2)
Domestic
$
14.3

 
$
(41.6
)
 
$
12.6

Foreign
(2.7
)
 
24.0

 
4.8

Total
$
11.6

 
$
(17.6
)
 
$
17.4

Schedule of Components of Income Tax Expense (Benefit)
The following table presents the components of the income tax expense (benefit):
 
Year Ended December 31,
 
2016
 
2015 As Adjusted (Note 2)
 
2014 As Adjusted (Note 2)
Current:
 
 
 
 
 
Federal
$
6.2

 
$
5.0

 
$
5.1

Foreign
0.4

 
1.6

 
1.0

State and local
1.2

 
1.1

 
1.5

Total current
7.8

 
7.7

 
7.6

Deferred:
 
 
 
 
 
Federal
(3.8
)
 
(14.5
)
 
1.8

Foreign
0.5

 
0.6

 
(1.0
)
State and local
(0.4
)
 
(1.1
)
 
(0.5
)
Total deferred
(3.7
)
 
(15.0
)
 
0.3

Total income tax expense (benefit)
$
4.1

 
$
(7.3
)
 
$
7.9

Schedule of Effective Income Tax Rate Reconciliation
The following table presents the differences between AFI’s income tax expense at the U.S. federal statutory income tax rate and our effective income tax rate:
 
Year Ended December 31,
 
2016
 
2015 As Adjusted (Note 2)
 
2014 As Adjusted (Note 2)
Continuing operations tax at statutory rate
$
4.0

 
$
(6.2
)
 
$
6.1

Increase in valuation allowances on deferred foreign income tax assets
2.4

 
3.4

 
5.1

Tax on foreign and foreign-source income
(1.9
)
 
(3.6
)
 
(3.6
)
Research and development credits
(0.8
)
 
(0.9
)
 
(0.4
)
Permanent book/tax differences
0.5

 
0.9

 

State income tax expense (benefit), net of federal benefit
0.4

 
(0.9
)
 
0.7

Domestic production activities
(0.4
)
 

 

Other
(0.1
)
 

 

Total income tax expense (benefit)
$
4.1

 
$
(7.3
)
 
$
7.9

Schedule of Deferred Tax Assets and Liabilities
 
December 31, 2016
 
December 31, 2015 As Adjusted (Note 2)
Deferred income tax assets (liabilities)
 
 
 
Postretirement benefits
$
33.0

 
$
2.2

Net operating losses
26.9

 
18.8

Accrued expenses
12.1

 
6.0

Deferred compensation
7.8

 
14.7

Customer claims reserves
5.0

 
5.0

Goodwill
2.7

 

Pension benefit liabilities
0.4

 
41.6

Foreign tax credit carryforwards

 
3.5

Other
3.0

 
14.5

Total deferred income tax assets
90.9

 
106.3

Valuation allowances
(28.2
)
 
(18.4
)
Net deferred income tax assets
62.7

 
87.9

Accumulated depreciation
(43.5
)
 
(36.5
)
Inventories
(12.2
)
 
(18.8
)
Intangibles
(10.2
)
 
(9.6
)
Other
(0.7
)
 
(3.0
)
Total deferred income tax liabilities
(66.6
)
 
(67.9
)
Net deferred income tax assets (liabilities)
$
(3.9
)
 
$
20.0

Deferred income taxes have been classified in the Consolidated Balance Sheet as:
 
 
 
Deferred income tax assets—noncurrent
$
4.5

 
$
23.5

Deferred income tax liabilities—current

 
(1.4
)
Deferred income tax liabilities—noncurrent
(8.4
)
 
(2.1
)
Net deferred income tax assets (liabilities)
$
(3.9
)
 
$
20.0

Schedule of Unrecognized Tax Benefits
The following table presents a reconciliation of the total amounts of UTBs, excluding interest and penalties:
 
2016
 
2015
 
2014
Unrecognized tax benefits as of January 1,
$
81.9

 
$
76.1

 
$
70.1

Gross change for current year positions
1.3

 
5.7

 
5.3

Increases (decreases) for prior period positions
(78.2
)
 
0.1

 
0.7

Unrecognized tax benefits balance as of December 31,
$
5.0

 
$
81.9

 
$
76.1

Schedule of Other Income Tax Amounts
The following table details amounts related to other taxes:
 
Year Ended December 31,
 
2016
 
2015
 
2014
Payroll taxes
$
18.9

 
$
19.2

 
$
18.9

Property and franchise taxes
4.8

 
4.9

 
5.1