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Equity
 12 Months Ended
Dec. 31, 2011
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
EQUITY
Ordinary Shares
At December 31, 2011, a reconciliation of ordinary shares is as follows:
 
In millions
Total
December 31, 2010
328.2

Shares issued under incentive plans
5.2

Repurchase of ordinary shares
(36.3
)
December 31, 2011
297.1


In the second quarter of 2011, the Board of Directors authorized the repurchase of up to $2.0 billion of the Company's ordinary shares under a new share repurchase program. On June 8, 2011, the Company commenced share repurchases under this program. During the year ended December 31, 2011, the Company repurchased 36.3 million shares for approximately $1.2 billion. These repurchases were accounted for as a reduction of Ordinary shares and Capital in excess of par value as they were canceled upon repurchase.
In December 2011, the Company declared a dividend of $0.16 per ordinary share payable on March 30, 2012 to shareholders of record on March 12, 2012. This represents a non-cash financing activity and has been excluded from the Consolidated Statement of Cash Flows. The cash impact of the dividend will be reflected in the Consolidated Statement of Cash Flows when paid.
The authorized share capital of IR-Ireland is 1,185,040,000 shares, consisting of (1) 1,175,000,000 ordinary shares, par value $1.00 per share, (2) 40,000 ordinary shares, par value EUR 1.00 and (3) 10,000,000 preference shares, par value $0.001 per share. No preference shares were outstanding at December 31, 2011 or 2010.
Accumulated Other Comprehensive Income (Loss)
The components of Accumulated other comprehensive income (loss) are as follows:
 
In millions
 
2011
 
2010
Foreign currency translation adjustment
 
$
348.0

 
$
506.1

Change in fair value of derivatives qualifying as cash flow hedges, net of tax
 
0.7

 
(4.1
)
Unrealized loss on marketable securities, net of tax
 
(5.2
)
 
(1.3
)
Pension and postretirement obligation adjustments, net of tax
 
(897.1
)
 
(825.7
)
Accumulated other comprehensive income (loss)
 
$
(553.6
)
 
$
(325.0
)