Equity (Tables)

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

Reconciliation of Ordinary Shares

Changes in ordinary shares and treasury shares for the nine months ended September 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	1.9	—
Repurchase of ordinary shares	—	4.9
September 30, 2016	270.9	12.7

Components Of Shareholders Equity Rollforward

The components of Equity for the nine months ended September 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	1,277.4			12.5			1,289.9
Currency translation	42.9			5.8			48.7
Derivatives qualifying as cash flow hedges, net of tax	3.0			—			3.0
Pension and OPEB adjustments, net of tax	41.6			—			41.6
Total comprehensive income (loss)	1,364.9			18.3			1,383.2
Share-based compensation	49.7			—			49.7
Dividends declared to noncontrolling interests	—			(13.8		)	(13.8		)
Dividends declared to ordinary shareholders	(247.5		)	—			(247.5		)
Shares issued under incentive plans, net of tax benefit	30.5			—			30.5
Repurchase of ordinary shares	(250.1		)	—			(250.1		)
Other items, net	(0.1		)				(0.1		)
Balance at September 30, 2016	$	6,764.1		$	67.0		$	6,831.1

The components of Equity for the nine months ended September 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	431.1			13.2			444.3
Currency translation	(359.4		)	(3.9		)	(363.3		)
Derivatives qualifying as cash flow hedges, net of tax	2.8			—			2.8
Pension and OPEB adjustments, net of tax	35.5			—			35.5
Total comprehensive income (loss)	110.0			9.3			119.3
Share-based compensation	49.9			—			49.9
Dividends declared to noncontrolling interests	—			(9.0		)	(9.0		)
Dividends declared to ordinary shareholders	(230.2		)	—			(230.2		)
Shares issued under incentive plans, net of tax benefit	54.7			—			54.7
Repurchase of ordinary shares	(233.4		)	—			(233.4		)
Balance at September 30, 2015	$	5,738.4		$	58.3		$	5,796.7

Schedule of Accumulated Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

The changes in Accumulated other comprehensive income (loss) for the nine months ended September 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	7.0			13.0			42.9			62.9
Amounts reclassified from AOCI	(3.9		)	42.9			—			39.0
Provision for income taxes	(0.1		)	(14.3		)	—			(14.4		)
Net current period other comprehensive income (loss)	$	3.0		$	41.6		$	42.9		$	87.5
Balance at September 30, 2016	$	8.1		$	(588.8	)	$	(452.7	)	$	(1,033.4	)

The changes in Accumulated other comprehensive income (loss) for the nine months ended September 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	1.1			9.9			(359.4		)	(348.4		)
Amounts reclassified from AOCI	2.4			41.2			—			43.6
Provision for income taxes	(0.7		)	(15.6		)	—			(16.3		)
Net current period other comprehensive income (loss)	$	2.8		$	35.5		$	(359.4	)	$	(321.1	)
Balance at September 30, 2015	$	5.9		$	(629.6	)	$	(411.7	)	$	(1,035.4	)

Equity

i

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

	Three months ended						Nine months ended
In millions	2016			2015			2016			2015
Derivative Instruments
Reclassifications of deferred (gains) losses (1)	$	(2.2	)	$	0.8		$	(3.9	)	$	2.4
Provision (benefit) for income taxes	0.1			—			0.3			—
Reclassifications, net of taxes	$	(2.1	)	$	0.8		$	(3.6	)	$	2.4
Pension and Postretirement benefits
Amortization of service costs (2)	$	(1.7	)	$	(1.5	)	$	(3.7	)	$	(4.3	)
Amortization of actuarial losses (2)	16.3			14.4			46.6			45.5
Provision for (benefit from) for income taxes	(4.7		)	(4.4		)	(14.3		)	(15.6		)
Reclassifications, net of taxes	$	9.9		$	8.5		$	28.6		$	25.6
Total reclassifications, net of taxes	$	7.8		$	9.3		$	25.0		$	28.0

⁽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.