Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Income before Income Tax, Domestic and Foreign |
Income (loss) before income taxes and noncontrolling interest within or outside the United States are shown below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years ended
December 31, |
|
|
2017 |
|
2016 |
|
2015 |
Domestic |
|
$ |
(137,147 |
) |
|
$ |
(84,094 |
) |
|
$ |
11,427 |
|
Foreign |
|
76,513 |
|
|
14,977 |
|
|
— |
|
Total |
|
$ |
(60,634 |
) |
|
$ |
(69,117 |
) |
|
$ |
11,427 |
|
|
|
|
|
|
|
|
|
| Schedule of Components of Income Tax Expense (Benefit) |
The provision (benefit) for income taxes as shown in the accompanying consolidated statements of operations consists of the following:
|
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|
|
|
|
|
|
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|
|
|
Years ended
December 31, |
|
|
2017 |
|
2016 |
Current: |
|
|
|
|
Federal |
|
$ |
— |
|
|
$ |
— |
|
State |
|
806 |
|
|
91 |
|
Foreign |
|
20,209 |
|
|
10,088 |
|
|
|
21,015 |
|
|
10,179 |
|
|
|
|
|
|
|
|
Deferred: |
|
|
|
|
|
|
Federal |
|
(135,970 |
) |
|
8,654 |
|
State |
|
(1,817 |
) |
|
292 |
|
Foreign |
|
(2,425 |
) |
|
(9,084 |
) |
|
|
(140,212 |
) |
|
(138 |
) |
|
|
|
|
|
|
|
Provision (benefit) for income taxes |
|
$ |
(119,197 |
) |
|
$ |
10,041 |
|
|
|
|
|
|
|
| Schedule of Effective Income Tax Rate Reconciliation |
A reconciliation of income tax expense (benefit) at the U.S. federal statutory income tax rate of 35% to actual income tax expense is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
Years ended
December 31, |
|
|
2017 |
|
2016 |
Tax at statutory rate |
|
$ |
(21,222 |
) |
|
$ |
(24,191 |
) |
State income taxes, net of federal income tax benefit |
|
(7,754 |
) |
|
(4,110 |
) |
Repatriation of non-US earnings inclusive of mandatory repatriation toll tax |
|
(24,912 |
) |
|
4,576 |
|
Change in Tax Status-Eco-Passthrough to C-Corp |
|
— |
|
|
33,891 |
|
Changes in uncertain tax positions |
|
974 |
|
|
(2,383 |
) |
Change in valuation allowances |
|
6,771 |
|
|
2,577 |
|
Rate changes |
|
(63,319 |
) |
|
— |
|
Change in state effective rates |
|
(340 |
) |
|
(290 |
) |
Foreign withholding taxes |
|
978 |
|
|
1,505 |
|
Foreign tax rate differential |
|
(10,131 |
) |
|
(1,354 |
) |
Non-deductible transaction costs |
|
1,679 |
|
|
667 |
|
Other, net |
|
(1,921 |
) |
|
(847 |
) |
Provision (benefit) for income taxes |
|
$ |
(119,197 |
) |
|
$ |
10,041 |
|
|
|
|
|
|
|
| Schedule of Deferred Tax Assets and Liabilities |
Deferred tax assets (liabilities) are comprised of the following:
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
2017 |
|
2016 |
Deferred tax assets: |
|
|
|
|
Net operating loss carryforwards |
|
$ |
144,267 |
|
|
$ |
157,811 |
|
Pension |
|
16,255 |
|
|
21,454 |
|
Post retirement health |
|
561 |
|
|
1,040 |
|
Transaction costs |
|
1,183 |
|
|
2,896 |
|
Natural gas contracts |
|
110 |
|
|
— |
|
Interest rate swaps |
|
115 |
|
|
— |
|
Unrealized translation losses |
|
5,065 |
|
|
6,046 |
|
Other |
|
38,290 |
|
|
44,351 |
|
Valuation allowance |
|
(64,945 |
) |
|
(38,271 |
) |
|
|
$ |
140,901 |
|
|
$ |
195,327 |
|
|
|
|
|
|
|
|
Deferred tax liabilities: |
|
|
|
|
|
|
Depreciation |
|
$ |
(86,532 |
) |
|
$ |
(114,749 |
) |
Undistributed earnings of non-US subsidiaries |
|
(8,334 |
) |
|
(73,205 |
) |
LIFO reserve |
|
— |
|
|
— |
|
Inventory |
|
(11,324 |
) |
|
(20,159 |
) |
Intangible assets |
|
(184,937 |
) |
|
(276,671 |
) |
Natural gas contracts |
|
— |
|
|
(241 |
) |
Other accruals |
|
— |
|
|
(1,621 |
) |
Other |
|
(36,810 |
) |
|
(27,144 |
) |
|
|
$ |
(327,937 |
) |
|
$ |
(513,790 |
) |
|
|
|
|
|
|
|
Net deferred tax liabilities |
|
$ |
(187,036 |
) |
|
$ |
(318,463 |
) |
|
|
|
|
|
|
| Summary of Valuation Allowance |
The following are changes in the deferred tax valuation allowance during the years ended December 31, 2017 and 2016:
|
|
|
|
|
|
|
|
|
|
|
|
Years ended
December 31, |
|
|
2017 |
|
2016 |
Beginning Balance |
|
$ |
38,271 |
|
|
$ |
— |
|
Additions |
|
34,863 |
|
|
46,347 |
|
Reductions |
|
(8,189 |
) |
|
(8,076 |
) |
Ending Balance |
|
$ |
64,945 |
|
|
$ |
38,271 |
|
|
|
|
|
|
|
| Schedule of Unrecognized Tax Benefits Roll Forward |
The following table summarizes the activity related to our gross unrecognized tax benefits:
|
|
|
|
|
|
|
|
|
|
|
|
Years ended
December 31, |
|
|
2017 |
|
2016 |
Balance at beginning of period |
|
$ |
16,128 |
|
|
$ |
— |
|
Increases related to prior year tax positions |
|
68 |
|
|
19,419 |
|
Decreases related to prior year tax positions |
|
(5,508 |
) |
|
(68 |
) |
Increases related to current year tax positions |
|
743 |
|
|
691 |
|
Decreases related to current year tax positions |
|
— |
|
|
— |
|
Decreases related to settlements with taxing authorities |
|
— |
|
|
(3,914 |
) |
Decreases related to lapsing of statute of limitations |
|
— |
|
|
— |
|
Balance at end of period |
|
$ |
11,431 |
|
|
$ |
16,128 |
|
|
|
|
|
|
|
| Open Tax Years |
The following describes the open tax years, by major tax jurisdiction, as of December 31, 2017:
|
|
|
|
Jurisdiction
|
|
Period
|
United States-Federal |
|
2007-Present |
United States-State |
|
2008-Present |
Canada(1)
|
|
2009-Present |
Germany |
|
2007-Present |
Netherlands |
|
2012-Present |
Mexico |
|
2012-Present |
United Kingdom |
|
2010-Present |
Brazil |
|
2012-Present |
|
|
|
|
|
(1) |
Includes federal as well as local jurisdictions |
|
| Schedule of Tax Payments |
Cash payments for income taxes are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years ended
December 31, |
|
|
2017 |
|
2016 |
|
2015 |
Domestic |
|
$ |
1,647 |
|
|
$ |
373 |
|
|
$ |
8 |
|
Foreign |
|
27,552 |
|
|
16,608 |
|
|
— |
|
|
|
$ |
29,199 |
|
|
$ |
16,981 |
|
|
$ |
8 |
|
|
|
|
|
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|