Annual report pursuant to Section 13 and 15(d)

Income Taxes, Income Tax Reconciliation and Allocation of Income Tax Provision (Details)

v3.20.4
Income Taxes, Income Tax Reconciliation and Allocation of Income Tax Provision (Details) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax [1] $ 0 $ (292,800,000) [2] $ 0
Effective Income Tax Rate Reconciliation, Pension Settlement Charge, Income Tax Expense (Benefit) (73,900,000) (73,900,000)  
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]      
Income Tax Provision at 35 Percent 99,200,000 23,200,000 65,200,000
State and Local Income Taxes, Net of Federal Income Tax Effect 11,600,000 (3,600,000) 8,800,000
Deferred Tax Asset Valuation Allowance (200,000) (3,500,000) 4,000,000.0
Equity Compensation (1,100,000) (2,900,000) (3,100,000)
Change in Estimates Related to Prior Years and Prior Years Amended Tax Return Filings 900,000 (2,900,000) 1,600,000
Federal and State Tax Credits (12,000,000.0) (11,600,000) (11,600,000)
Taxes Related to Foreign Income, Net of Credits 700,000 (5,200,000) (6,500,000)
Deferred Tax Reassessment 5,400,000 1,900,000 3,300,000
Tax Law Changes 0 0 (5,200,000)
FDII Deduction (11,400,000) (5,500,000) (2,600,000)
Effective Income Tax Rate Reconciliation, Pension Settlement Charge, Gross 0 91,400,000 0
Other 4,900,000 (1,000,000.0) 3,400,000
Income Tax Provision $ 98,000,000.0 $ 80,300,000 $ 57,300,000
Effective Tax Rate 20.70% 72.60% 18.50%
Income Tax Expense (Benefit), Intraperiod Tax Allocation [Abstract]      
Continuing Operations $ 98,000,000.0 $ 80,300,000 $ 57,300,000
Discontinued Operations (500,000) (40,100,000) 2,600,000
Total Tax Provision $ 97,500,000 $ 40,200,000 $ 59,900,000
Federal Statutory Income Tax Rate 21.00% 21.00% 35.00%
Deferred Tax Liabilities, Undistributed Foreign Earnings $ 0 $ 0  
CHINA      
Foreign Statutory Tax Rate 15.00%    
POLAND      
Foreign Statutory Tax Rate 19.00%    
[1] (A)    These Accumulated other comprehensive loss components are included in the computation of net pension and other benefit costs. See Note 17 – Postretirement Benefits for additional details.
[2] (B)    In 2019, the Company fully exited its qualified benefit pension plans and as a result, recorded a pre-tax settlement charge of $292.8 million. The income tax impact of the settlement action was a net provision of $17.5 million, consisting of an income tax benefit of $73.9 million associated with the pension settlement charge netted against an income tax charge of $91.4 million resulting from the release of disproportionate tax effects in Accumulated other comprehensive loss. Refer to Note 17 – Postretirement Benefits and Note 12 – Income Taxes in the Notes to Consolidated Financial Statements for further information on the pension settlement and related income tax consequences, respectively.