Equity (Tables)

6 Months Ended

Jun. 30, 2016

Stockholders' Equity Note [Abstract]

Reconciliation of Ordinary Shares

Changes in ordinary shares and treasury shares for the six months ended June 30, 2016 are as follows:

In millions	Ordinary shares issued	Ordinary shares held in treasury
December 31, 2015	269.0	7.8
Shares issued under incentive plans, net	1.4	—
Repurchase of ordinary shares	—	4.9
June 30, 2016	270.4	12.7

Components Of Shareholders Equity Rollforward

The components of Equity for the six months ended June 30, 2016 were as follows:

In millions	Shareholders’ equity			Noncontrolling interests			Total equity
Balance at December 31, 2015	$	5,816.7		$	62.5		$	5,879.2
Net earnings	900.0			8.0			908.0
Currency translation	34.1			(0.2		)	33.9
Derivatives qualifying as cash flow hedges, net of tax	4.4			—			4.4
Pension and OPEB adjustments, net of tax	28.5			—			28.5
Total comprehensive income (loss)	967.0			7.8			974.8
Share-based compensation	36.8			—			36.8
Dividends declared to noncontrolling interests	—			(6.7		)	(6.7		)
Dividends declared to ordinary shareholders	(164.8		)	—			(164.8		)
Shares issued under incentive plans, net of tax benefit	9.2			—			9.2
Repurchase of ordinary shares	(250.1		)	—			(250.1		)
Other items, net	(0.4		)	—			(0.4		)
Balance at June 30, 2016	$	6,414.4		$	63.6		$	6,478.0

The components of Equity for the six months ended June 30, 2015 were as follows:

In millions	Shareholders’ equity			Noncontrolling interests			Total equity
Balance at December 31, 2014	$	5,987.4		$	58.0		$	6,045.4
Net earnings	130.2			8.1			138.3
Currency translation	(243.8		)	(1.0		)	(244.8		)
Derivatives qualifying as cash flow hedges, net of tax	1.4			—			1.4
Pension and OPEB adjustments, net of tax	23.6			—			23.6
Total comprehensive income (loss)	(88.6		)	7.1			(81.5		)
Share-based compensation	36.9			—			36.9
Dividends declared to noncontrolling interests	—			(5.2		)	(5.2		)
Dividends declared to ordinary shareholders	(153.4		)	—			(153.4		)
Shares issued under incentive plans, net of tax benefit	45.3			—			45.3
Balance at June 30, 2015	$	5,827.6		$	59.9		$	5,887.5

Schedule of Accumulated Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

The changes in Accumulated other comprehensive income (loss) for the six months ended June 30, 2016 are as follows:

In millions	Derivative Instruments			Pension and OPEB			Foreign Currency Translation			Total
Balance at December 31, 2015	$	5.1		$	(630.4	)	$	(495.6	)	$	(1,120.9	)
Other comprehensive income (loss) before reclassifications	6.6			9.8			34.1			50.5
Amounts reclassified from AOCI	(1.7		)	28.3			—			26.6
Provision for income taxes	(0.5		)	(9.6		)	—			(10.1		)
Net current period other comprehensive income (loss)	$	4.4		$	28.5		$	34.1		$	67.0
Balance at June 30, 2016	$	9.5		$	(601.9	)	$	(461.5	)	$	(1,053.9	)

The changes in Accumulated other comprehensive income (loss) for the six months ended June 30, 2015 are as follows:

In millions	Derivative Instruments			Pension and OPEB			Foreign Currency Translation			Total
Balance at December 31, 2014	$	3.1		$	(665.1	)	$	(52.3	)	$	(714.3	)
Other comprehensive income (loss) before reclassifications	0.3			6.5			(243.8		)	(237.0		)
Amounts reclassified from AOCI	1.6			28.3			—			29.9
Provision for income taxes	(0.5		)	(11.2		)	—			(11.7		)
Net current period other comprehensive income (loss)	$	1.4		$	23.6		$	(243.8	)	$	(218.8	)
Balance at June 30, 2015	$	4.5		$	(641.5	)	$	(296.1	)	$	(933.1	)

Equity

i

The reclassifications out of Accumulated other comprehensive income (loss) for the three and six months ended June 30 were as follows:

	Three months ended						Six months ended
In millions	2016			2015			2016			2015
Derivative Instruments
Reclassifications of deferred (gains) losses (1)	$	(1.1	)	$	0.7		$	(1.7	)	$	1.6
Provision (benefit) for income taxes	0.2			—			0.2			—
Reclassifications, net of taxes	$	(0.9	)	$	0.7		$	(1.5	)	$	1.6
Pension and Postretirement benefits
Amortization of service costs (2)	$	(1.0	)	$	(1.4	)	$	(2.0	)	$	(2.8	)
Amortization of actuarial losses (2)	15.1			15.6			30.3			31.1
Provision for (benefit from) for income taxes	(5.1		)	(4.7		)	(9.6		)	(11.2		)
Reclassifications, net of taxes	$	9.0		$	9.5		$	18.7		$	17.1
Total reclassifications, net of taxes	$	8.1		$	10.2		$	17.2		$	18.7

⁽¹⁾ Reclassifications of interest rate swaps and locks are reflected within Interest expense; reclassifications of foreign exchange swaps are reflected in Cost of goods sold.

⁽²⁾ Reclassifications of pension and postretirement amounts are included in periodic pension costs and periodic benefit costs.