Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.8.0.1
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:
 
 
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