Equity (Tables)

3 Months Ended

Mar. 31, 2017

Stockholders' Equity Note [Abstract]

Reconciliation of Ordinary Shares

Changes in ordinary shares and treasury shares for the three months ended March 31, 2017 are as follows:

In millions	Ordinary shares issued	Ordinary shares held in treasury
December 31, 2016	271.7	12.7
Shares issued under incentive plans, net	1.5	—
Repurchase of ordinary shares	—	3.1
March 31, 2017	273.2	15.8

Components Of Shareholders Equity Rollforward

The components of Equity for the three months ended March 31, 2017 were as follows:

In millions	Shareholders’ equity			Noncontrolling interests			Total equity
Balance at December 31, 2016	$	6,643.8		$	74.5		$	6,718.3
Net earnings	117.1			4.0			121.1
Currency translation	112.4			(1.5		)	110.9
Derivatives qualifying as cash flow hedges, net of tax	1.6			—			1.6
Pension and OPEB adjustments, net of tax	6.6			—			6.6
Total comprehensive income (loss)	237.7			2.5			240.2
Share-based compensation	23.3			—			23.3
Adoption of ASU 2016-09 (See Note 2)	15.1			—			15.1
Dividends declared to noncontrolling interests	—			(6.9		)	(6.9		)
Dividends declared to ordinary shareholders	(103.0		)	—			(103.0		)
Shares issued under incentive plans, net of tax benefit	16.8			—			16.8
Repurchase of ordinary shares	(250.1		)	—			(250.1		)
Other items, net	0.2						0.2
Balance at March 31, 2017	$	6,583.8		$	70.1		$	6,653.9

The components of Equity for the three months ended March 31, 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	152.4			3.2			155.6
Currency translation	130.5			0.9			131.4
Derivatives qualifying as cash flow hedges, net of tax	1.1			—			1.1
Pension and OPEB adjustments, net of tax	10.4			—			10.4
Total comprehensive income (loss)	294.4			4.1			298.5
Share-based compensation	21.9			—			21.9
Dividends declared to noncontrolling interests	—			(6.7		)	(6.7		)
Dividends declared to ordinary shareholders	(82.2		)	—			(82.2		)
Shares issued under incentive plans, net of tax benefit	(6.7		)	—			(6.7		)
Repurchase of ordinary shares	(250.1		)	—			(250.1		)
Other	(1.2		)	—			(1.2		)
Balance at March 31, 2016	$	5,792.8		$	59.9		$	5,852.7

Schedule of Accumulated Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

The changes in Accumulated other comprehensive income (loss) for the three months ended March 31, 2017 are as follows:

In millions	Derivative Instruments		Pension and OPEB			Foreign Currency Translation			Total
Balance at December 31, 2016	$	2.9	$	(554.4	)	$	(739.0	)	$	(1,290.5	)
Other comprehensive income (loss) before reclassifications	1.2		(0.8		)	112.4			112.8
Amounts reclassified from AOCI	0.4		12.4			—			12.8
Provision for income taxes	—		(5.0		)	—			(5.0		)
Net current period other comprehensive income (loss)	$	1.6	$	6.6		$	112.4		$	120.6
Balance at March 31, 2017	$	4.5	$	(547.8	)	$	(626.6	)	$	(1,169.9	)

The changes in Accumulated other comprehensive income (loss) for the three months ended March 31, 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	2.0			0.7			130.5			133.2
Amounts reclassified from AOCI	(0.6		)	14.2			—			13.6
Provision for income taxes	(0.3		)	(4.5		)	—			(4.8		)
Net current period other comprehensive income (loss)	$	1.1		$	10.4		$	130.5		$	142.0
Balance at March 31, 2016	$	6.2		$	(620.0	)	$	(365.1	)	$	(978.9	)

Equity

i

The reclassifications out of Accumulated other comprehensive income (loss) for the three months ended March 31 were as follows:

	Three months ended
In millions	2017			2016
Derivative Instruments
Reclassifications of deferred (gains) losses (1)	$	0.4		$	(0.6	)
Provision (benefit) for income taxes	(0.1		)	—
Reclassifications, net of taxes	$	0.3		$	(0.6	)
Pension and Postretirement benefits
Amortization of service costs (2)	$	(1.2	)	$	(1.0	)
Amortization of actuarial losses (2)	13.6			15.2
Provision for (benefit from) for income taxes	(5.0		)	(4.5		)
Reclassifications, net of taxes	$	7.4		$	9.7
Total reclassifications, net of taxes	$	7.7		$	9.1

(1) Reclassifications of interest rate swaps and locks are reflected within Interest expense; reclassifications of currency derivatives designated as hedges are reflected in Cost of goods sold.

(2) Reclassifications of the service cost component of pension and postretirement benefit costs are reflected within Operating income; the remaining components are included within Other income/(expense), net.