Equity

Common Stock

On January 15, 2014, the Company contributed 183,000 shares of newly issued Colfax Common stock to its U.S. defined benefit pension plan.

On February 20, 2014, the Company sold 9,200,000 shares of newly issued Colfax Common stock to underwriters for public resale pursuant to a shelf registration statement for an aggregate purchase price of $632.5 million. In conjunction with this issuance, the Company recognized $22.1 million in equity issuance costs, which were recorded as a reduction to Additional paid-in capital during the six months ended June 27, 2014.

Preferred Stock

The Company entered into a Conversion Agreement with BDT CF Acquisition Vehicle, LLC (the “BDT Investor”), pursuant to which the BDT Investor exercised its option to convert 13,877,552 shares of Series A Perpetual Convertible Preferred Stock into 12,173,291 shares of the Company’s Common stock plus cash in lieu of a .22807018 share interest, which conversion occurred on February 12, 2014. As consideration for the BDT Investor’s agreement to exercise its optional conversion right, the Company paid approximately $23.4 million to the BDT Investor, of which $19.6 million represents the Preferred stock conversion inducement payment in the Condensed Consolidated Statement of Operations for the six months ended June 27, 2014.

Accumulated Other Comprehensive Income (Loss)

The following tables present the changes in the balances of each component of Accumulated other comprehensive income (loss) including reclassifications out of Accumulated other comprehensive income (loss) for the six months ended June 27, 2014 and June 28, 2013. All amounts are net of tax and noncontrolling interest.



	Accumulated Other Comprehensive Income (Loss) Components
	Net Unrecognized Pension And Other Post-Retirement Benefit Cost			Foreign Currency Translation Adjustment		Unrealized Loss On Hedging Activities			Total
	(In thousands)

Balance at January 1, 2014	$	(159,795	)	$	127,604	$	(14,409	)	$	(46,600	)
Other comprehensive income before reclassifications:
Foreign currency translation adjustment	—			32,481		—			32,481
Gain on long-term intra-entity foreign currency transactions	—			9,531		—			9,531
Gain on net investment hedges	—			—		4,773			4,773
Unrealized loss on cash flow hedges	—			—		(1,683		)	(1,683		)
Other	1,934			—		—			1,934
Other comprehensive income before reclassifications	1,934			42,012		3,090			47,036
Amounts reclassified from Accumulated other comprehensive income (loss)	3,634			—		—			3,634
Net current period Other comprehensive income	5,568			42,012		3,090			50,670
Balance at June 27, 2014	$	(154,227	)	$	169,616	$	(11,319	)	$	4,070



	Accumulated Other Comprehensive Income (Loss) Components
	Net Unrecognized Pension And Other Post-Retirement Benefit Cost			Foreign Currency Translation Adjustment			Unrealized Loss On Hedging Activities			Total
	(In thousands)

Balance at January 1, 2013	$	(247,332	)	$	104,718		$	(3,980	)	$	(146,594	)
Other comprehensive (loss) income before reclassifications:
Foreign currency translation adjustment	—			(154,230		)	—			(154,230		)
Loss on long-term intra-entity foreign currency transactions	—			(7,299		)	—			(7,299		)
Gain on net investment hedges	—			—			7,263			7,263
Unrealized loss on cash flow hedges	—			—			(3,764		)	(3,764		)
Other comprehensive (loss) income before reclassifications	—			(161,529		)	3,499			(158,030		)
Amounts reclassified from Accumulated other comprehensive income (loss)	5,157			—			—			5,157
Net current period Other comprehensive income (loss)	5,157			(161,529		)	3,499			(152,873		)
Balance at June 28, 2013	$	(242,175	)	$	(56,811	)	$	(481	)	$	(299,467	)

The effect on Net income of amounts reclassified out of each component of Accumulated other comprehensive income (loss) for the three and six months ended June 27, 2014 and June 28, 2013 is as follows:



	Three Months Ended June 27, 2014							Six Months Ended June 27, 2014
	Amounts Reclassified From Accumulated Other Comprehensive Income (Loss)		Tax Benefit			Total		Amounts Reclassified From Accumulated Other Comprehensive Income (Loss)		Tax Benefit			Total
	(In thousands)

Pension and other post-retirement benefit cost:
Amortization of net loss⁽¹⁾	$	1,811	$	(132	)	$	1,679	$	3,815	$	(305	)	$	3,510
Amortization of prior service cost⁽¹⁾	62		—			62		124		—			124
	$	1,873	$	(132	)	$	1,741	$	3,939	$	(305	)	$	3,634



	Three Months Ended June 28, 2013							Six Months Ended June 28, 2013
	Amounts Reclassified From Accumulated Other Comprehensive Income (Loss)		Tax Benefit			Total		Amounts Reclassified From Accumulated Other Comprehensive Income (Loss)		Tax Benefit			Total
	(In thousands)

Pension and other post-retirement benefit cost:
Amortization of net loss⁽¹⁾	$	2,714	$	(213	)	$	2,501	$	5,387	$	(354	)	$	5,033
Amortization of prior service cost⁽¹⁾	62		—			62		124		—			124
	$	2,776	$	(213	)	$	2,563	$	5,511	$	(354	)	$	5,157

⁽¹⁾Included in the computation of net periodic benefit (income) cost. See Note 11, “Net Periodic Benefit Cost - Defined Benefit Plans” for additional details.

During the six months ended June 27, 2014 and June 28, 2013, Noncontrolling interest decreased by $1.1 million and $12.5 million, respectively, as a result of Other comprehensive loss, primarily due to foreign currency translation adjustment.