Changes in Equity and Comprehensive Income

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Changes in Equity and Comprehensive Income

Changes in Equity and Accumulated Other Comprehensive Income

A summary of the changes in equity for the six months ended June 30, 2015 and 2014 is provided below:

	Six Months Ended June 30,
	2015									2014
(in millions)	Total Shareholders’ Equity			Noncontrolling Interests			Total Equity			Total Shareholders’ Equity			Noncontrolling Interests		Total Equity
Balance, beginning of period	$	1,059.8		$	10.8		$	1,070.6		$	1,204.3		$	10.4	$	1,214.7
Dividends	(38.3		)	—			(38.3		)	(35.3		)	—		(35.3		)
Reacquisition on open market	(25.0		)	—			(25.0		)	—			—		—
Exercise of stock options, net of shares reacquired	7.0			—			7.0			7.8			—		7.8
Stock compensation expense	10.8			—			10.8			10.6			—		10.6
Excess tax benefit (shortfall) from stock based compensation	(0.2		)	—			(0.2		)	7.5			—		7.5
Net income	106.8			0.4			107.2			108.4			0.4		108.8
Other comprehensive income (loss)	(40.2		)	(0.1		)	(40.3		)	11.6			—		11.7
Comprehensive income	66.6			0.3			66.9			120.0			0.4		120.4
Balance, end of period	$	1,080.7		$	11.1		$	1,091.8		$	1,314.9		$	10.8	$	1,325.7

The table below provides the accumulated balances for each classification of accumulated other comprehensive income (loss), as reflected on the Condensed Consolidated Balance Sheets.

	(in millions)	Defined Benefit Pension and Other Postretirement Items*			Currency Translation Adjustment			Total
Balance as of December 31, 2014		$	(257.8	)	$	(40.9	)	$	(298.8	)
	Other comprehensive income (loss) before reclassifications	—			(44.1		)	(44.1		)
	Amounts reclassified from accumulated other comprehensive income	3.9			—			3.9
Net current-period other comprehensive income (loss)		3.9			(44.1		)	(40.2		)
Balance as of June 30, 2015		$	(253.9	)	$	(85.0	)	$	(339.0	)

* Net of tax benefit of $112.7 million and $114.4 million for June 30, 2015 and December 31, 2014, respectively.

The table below illustrates the amounts reclassified out of each component of accumulated other comprehensive income for the three month periods ended June 30, 2015 and 2014.

Details of Accumulated Other Comprehensive Income Components (in millions)	Amounts Reclassified from Accumulated Other Comprehensive Income						Affected Line Item in the Statement of Operations
	Three Months Ended June 30,
	2015			2014
Amortization of defined benefit pension items:
Prior-service costs	$	(0.2	)	$	0.03		$(0.3) and $.04 has been recorded within Cost of Sales for the three months ended June 30, 2015 and 2014, respectively, and $0.1 and ($.01) has been recorded within General & Administrative for the three months ended June 30, 2015 and 2014, respectively
Net loss (gain)	3.1			1.3			$4.2 and $1.7 has been recorded within Cost of Sales for the three months ended June 30, 2015 and 2014, respectively, and ($1.1) and ($0.4) has been recorded within General & Administrative for the three months ended June 30, 2015 and 2014, respectively
Amortization of other postretirement items:
Prior-service costs	(0.1		)	(0.1		)	Recorded within Selling, General & Administrative
Net loss (gain)	(0.1		)	(0.1		)	Recorded within Selling, General & Administrative
	$	2.7		$	1.2		Total before tax
	0.8			0.4			Tax benefit
Total reclassifications for the period	$	1.9		$	0.8		Net of tax

The table below illustrates the amounts reclassified out of each component of accumulated other comprehensive income for the six month periods ended June 30, 2015 and 2014.

Details of Accumulated Other Comprehensive Income Components (in millions)	Amounts Reclassified from Accumulated Other Comprehensive Income						Affected Line Item in the Statement of Operations
	Six Months Ended June 30,
	2015			2014
Amortization of defined benefit pension items:
Prior-service costs	$	(0.1	)	$	0.1		$(0.2) and $0.1 has been recorded within Cost of Sales for the six months ended June 30, 2015 and 2014, respectively, and $0.1 and $0 has been recorded within General & Administrative for the six months ended June 30, 2015 and 2014, respectively
Net loss (gain)	6.2			2.5			$8.4 and $3.4 has been recorded within Cost of Sales for the six months ended June 30, 2015 and 2014, respectively, and ($2.2) and ($0.9) has been recorded within General & Administrative for the six months ended June 30, 2015 and 2014, respectively
Amortization of other postretirement items:
Prior-service costs	(0.1		)	(0.1		)	Recorded within Selling, General & Administrative
Net loss (gain)	(0.3		)	(0.1		)	Recorded within Selling, General & Administrative
	$	5.7		$	2.4		Total before tax
	1.8			—			Tax benefit
Total reclassifications for the period	$	3.9		$	2.3		Net of tax