XML 77 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
Equity
 9 Months Ended
Sep. 30, 2012
Stockholders' Equity Note [Abstract]  
Equity
Equity
The reconciliation of Ordinary shares is as follows:
In millions
Total
December 31, 2011
297.1

Shares issued under incentive plans, net
3.1

Shares issued for settlement of Exchangeable Senior Notes
10.8

Repurchase of ordinary shares
(8.4
)
September 30, 2012
302.6


During the nine months ended September 30, 2012, the Company repurchased 8.4 million shares for approximately $374.7 million, excluding commissions, as a part of its $2.0 billion share repurchase program. These repurchases were accounted for as a reduction of Ordinary shares and Capital in excess of par value as they were canceled upon repurchase.
On October 3, 2012, the Company's Board of Directors declared a quarterly dividend of $0.16 per ordinary share, payable December 28, 2012, to shareholders of record on December 14, 2012.
The components of Equity for the nine months ended September 30, 2012 were as follows:
In millions
IR-Ireland
shareholders’
equity
 
Noncontrolling
interests
 
Total
equity
Balance at December 31, 2011
$
6,924.3

 
$
88.1

 
$
7,012.4

Net earnings
783.0

 
19.2

 
802.2

Currency translation *
58.4

 
(10.3
)
 
48.1

Change in value of marketable securities and derivatives qualifying as cash flow hedges, net of tax
5.2

 
—

 
5.2

Pension and OPEB adjustments, net of tax
58.3

 
(1.3
)
 
57.0

Total comprehensive income
904.9

 
7.6

 
912.5

Share-based compensation
34.7

 
—

 
34.7

Settlement of Exchangeable Senior Notes
(4.5
)
 
—

 
(4.5
)
Acquisition/divestiture of noncontrolling interests
(1.2
)
 
0.8

 
(0.4
)
Dividends to noncontrolling interests
—

 
(12.3
)
 
(12.3
)
Dividends to ordinary shareholders
(98.5
)
 
—

 
(98.5
)
Accretion of Exchangeable Senior Notes from Temporary equity
3.3

 
—

 
3.3

Shares issued under incentive plans, net
57.7

 
—

 
57.7

Repurchase of ordinary shares
(374.9
)
 
—

 
(374.9
)
Balance at September 30, 2012
$
7,445.8

 
$
84.2

 
$
7,530.0


* During the third quarter of 2012, the Company reclassified a $11.5 million currency translation loss to Noncontrolling interests from IR-Ireland shareholders' equity related to activity from prior to 2012. This reclassification corrects the allocation of currency translation gains (losses) between the Equity components. The Company does not believe this reclassification adjustment is material to 2012 or to any of its previously issued annual or interim financial statements.
The components of Equity for the nine months ended September 30, 2011 were as follows:
In millions
IR-Ireland
shareholders’
equity
 
Noncontrolling
interests
 
Total
equity
Balance at December 31, 2010
$
7,964.3

 
$
94.8

 
$
8,059.1

Net earnings
100.9

 
20.3

 
121.2

Currency translation
(38.9
)
 
—

 
(38.9
)
Change in value of marketable securities and derivatives qualifying as cash flow hedges, net of tax
1.3

 
—

 
1.3

Pension and OPEB adjustments, net of tax
92.4

 
(0.6
)
 
91.8

Total comprehensive income
155.7

 
19.7

 
175.4

Share-based compensation
31.0

 
—

 
31.0

Acquisition/divestiture of noncontrolling interests
(1.3
)
 
(1.2
)
 
(2.5
)
Dividends to noncontrolling interests
—

 
(22.9
)
 
(22.9
)
Dividends to ordinary shareholders
(101.5
)
 
—

 
(101.5
)
Accretion of Exchangeable Senior Notes from Temporary equity
10.0

 
—

 
10.0

Shares issued under incentive plans, net
107.4

 
—

 
107.4

Repurchase of ordinary shares
(575.6
)
 
—

 
(575.6
)
Other
(0.7
)
 
(1.0
)
 
(1.7
)
Balance at September 30, 2011
$
7,589.3

 
$
89.4

 
$
7,678.7