Shareholders' Equity

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Shareholders' Equity

Shareholders' Equity

Treasury Stock

On May 2, 2012, our Board of Directors authorized a share repurchase program that allowed for the repurchase of 5.0 million shares of common stock, replacing our previous authorization. For the three months ended June 30, 2015, we repurchased 0.2 million shares of common stock for $1.0 million. Since the authorization of this program, we have repurchased 3.0 million shares of common stock for $13.3 million and, as of June 30, 2015, we had remaining authorization to repurchase up to 2.0 million additional shares. The treasury stock held as of June 30, 2015 was acquired at an average price of $13.23 per share.

Following is a summary of treasury share activity:

	Treasury Shares
Balance as of December 31, 2014	627,796
Purchases	382,448
Exercise of stock options	(12,381	)
Restricted stock grants	(690,662	)
Forfeitures and other	863,743
Balance as of June 30, 2015	1,170,944

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss and related activity consisted of the following:

(In millions)	Gains (Losses) on Derivative Financial Instruments			Defined Benefit Plans			Foreign Currency Translation			Total
Balance as of December 31, 2014	$	5.1		$	(20.6	)	$	(69.3	)	$	(84.8	)
Other comprehensive income (loss) before reclassifications, net of tax1	3.1			—			(3.5		)	(0.4		)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	(3.6		)	0.3			—			(3.3		)
Net current period other comprehensive (loss) income	(0.5		)	0.3			(3.5		)	(3.7		)
Balance as of June 30, 2015	$	4.6		$	(20.3	)	$	(72.8	)	$	(88.5	)

¹Income tax benefit of $1.2 million was recorded for unrealized gains on derivative financial instruments for the six months ended June 30, 2015.

Details of amounts reclassified from accumulated other comprehensive loss and the line item in the Condensed Consolidated Statement of Operations for the three and six months ended June 30, 2015 are as follows:

	Amounts Reclassified from Accumulated Other Comprehensive Loss				Affected Line Item in the Consolidated Statement of Operations Where (Gain) Loss is Presented
	Three Months Ended		Six Months Ended
(In millions)	June 30, 2015		June 30, 2015
Gains on cash flow hedges	(2.0	)	(5.3	)	Cost of goods sold
Income tax expense	0.7		1.7		Income tax provision
	(1.3	)	(3.6	)
Amortization of net actuarial loss	0.2		0.4		Selling, general and administrative
Net pension curtailment/settlement loss	—		—		Restructuring and other
Income tax benefit	—		(0.1	)	Income tax provision
	0.2		0.3
Total reclassifications for the period	(1.1	)	(3.3	)