Equity

9 Months Ended

Sep. 30, 2015

Equity [Abstract]

Equity

Note 12 – Equity

Share Activity

During the fourth quarter of 2014, the Company’s Board of Directors authorized a $100 million share repurchase program (the “2014 Share Repurchase Program”), which provided the Company the ability to repurchase shares of its common stock from time to time in open market transactions or in privately-negotiated transactions, in accordance with applicable securities laws. Repurchased shares are held in the Company’s treasury. During the first half of 2015, the Company repurchased 5.2 million shares of its common stock for an aggregate purchase price of $100 million, which completed the 2014 Share Repurchase Program.

Share Activity (in thousands):	Common Shares Outstanding		Treasury Shares
Balance as of December 31, 2014	84,739		2,876
Shares issued:
Stock option exercises	72
Restricted share awards	199
Common stock repurchases	(5,218	)	5,218
Other, net	65
Balance as of September 30, 2015	79,857		8,094

Accumulated Other Comprehensive Loss

Accumulated other comprehensive losses totaled $66.1 million and $34.0 million as of September 30, 2015 and December 31, 2014, respectively. For the three and nine month periods ended September 30, 2015, unrealized foreign currency translation losses totaled $13.3 million and $32.1 million, respectively. For the three and nine month periods ended September 30, 2014, unrealized foreign currency translation losses totaled $13.0 million and $10.6 million, respectively. Unrealized foreign currency gains and losses relate primarily to fluctuations in foreign currency exchange rates of the Company’s foreign subsidiaries with a functional currency other than the U.S. dollar. Foreign currency activity, which has grown in recent years due to acquisitions, is related primarily to the Company’s Canadian operations.