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Changes in Equity and Comprehensive Income
 6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Changes in Equity and Comprehensive Income
Changes in Equity and Accumulated Other Comprehensive Loss
A summary of changes in equity for the six months ended June 30, 2017 and 2016 is provided below:
 
Six Months Ended June 30,
 
2017
 
2016
(in millions)
Total
Shareholders’
Equity
 
Noncontrolling
Interests
 
Total Equity
 
Total
Shareholders’
Equity
 
Noncontrolling
Interests
 
Total Equity
Balance, beginning of period
$
1,133.8

 
$
11.9

 
$
1,145.7

 
$
1,139.4

 
$
11.4

 
$
1,150.8

Dividends
(39.3
)
 
—

 
(39.3
)
 
(38.5
)
 
—

 
(38.5
)
Exercise of stock options, net of shares reacquired
17.8

 
—

 
17.8

 
2.2

 
—

 
2.2

Stock compensation expense
11.1

 
—

 
11.1

 
11.4

 
—

 
11.4

Excess tax shortfall from stock based compensation
—

 
—

 
—

 
(0.3
)
 
—

 
(0.3
)
Net income
132.3

 
0.3

 
132.6

 
123.3

 
0.3

 
123.6

Other comprehensive income
62.8

 
0.4

 
63.2

 
20.6

 
—

 
20.6

Comprehensive income
195.1

 
0.7

 
195.8

 
143.9

 
0.3

 
144.2

Balance, end of period
$
1,318.5

 
$
12.6

 
$
1,331.1

 
$
1,258.1

 
$
11.7

 
$
1,269.8


The table below provides the accumulated balances for each classification of accumulated other comprehensive 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, 2016
$
(301.3
)
 
$
(174.8
)
 
$
(476.1
)
 
Other comprehensive income before reclassifications
0.1

 
58.2

 
58.3

 
Amounts reclassified from accumulated other comprehensive income
4.5

 
—

 
4.5

Net current-period other comprehensive income
4.6

 
58.2

 
62.8

Balance as of June 30, 2017
$
(296.7
)
 
$
(116.6
)
 
$
(413.3
)
 
* Net of tax benefit of $117.8 million and $119.8 million as of June 30, 2017 and December 31, 2016, respectively.

The table below illustrates the amounts reclassified out of each component of accumulated other comprehensive loss for the three month periods ended June 30, 2017 and 2016.
Details of Accumulated Other Comprehensive Income Components (in millions)
 
Amounts Reclassified from Accumulated Other Comprehensive Income
 
Affected Line Item in the Statements of Operations
 
 
Three Months Ended June 30,
 
 
 
 
2017
 
2016
 
 
Amortization of defined benefit pension items:
 
 
 
 
 
 
Prior-service costs
 
$
(0.1
)
 
$
(0.2
)
 
$(0.1) and $(0.3) has been recorded within Cost of sales for the three months ended June 30, 2017 and 2016, respectively, and $0 and $0.1 has been recorded within Selling, general & administrative for the three months ended June 30, 2017 and 2016, respectively.
Net loss
 
3.5

 
2.9

 
$4.7 and $3.9 has been recorded within Cost of sales for the three months ended June 30, 2017 and 2016, respectively, and $(1.2) and $(1.0) has been recorded within Selling, general & administrative for the three months ended June 30, 2017 and 2016, respectively.
Amortization of other postretirement items:
 
 
 
 
 
 
Prior-service costs
 
(0.1
)
 
(0.1
)
 
Recorded within Selling, general & administrative
Net gain
 
(0.1
)
 
(0.1
)
 
Recorded within Selling, general & administrative
 
 
$
3.2

 
$
2.5

 
Total before tax
 
 
1.0

 
0.7

 
Tax benefit
Total reclassifications for the period
 
$
2.2

 
$
1.8

 
Net of tax
The table below illustrates the amounts reclassified out of each component of accumulated other comprehensive loss for the six month periods ended June 30, 2017 and 2016.
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,
 
 
 
 
2017
 
2016
 
 
Amortization of defined benefit pension items:
 
 
 
 
 
 
Prior-service costs
 
$
(0.2
)
 
$
(0.4
)
 
$(0.3) and $(0.5) has been recorded within Cost of sales for the six months ended June 30, 2017 and 2016, respectively, and $0.1 and $0.1 has been recorded within Selling, general & administrative for the six months ended June 30, 2017 and 2016, respectively
Net loss
 
7.0

 
5.8

 
$9.5 and $7.9 has been recorded within Cost of sales for the six months ended June 30, 2017 and 2016, respectively, and ($2.5) and ($2.1) has been recorded within Selling, general & administrative for the six months ended June 30, 2017 and 2016, respectively
Amortization of other postretirement items:
 
 
 
 
 
 
Prior-service costs
 
(0.1
)
 
(0.2
)
 
Recorded within Selling, general & administrative
Net gain
 
(0.2
)
 
(0.2
)
 
Recorded within Selling, general & administrative
 
 
$
6.5

 
$
5.0

 
Total before tax
 
 
2.0

 
1.4

 
Tax benefit
Total reclassifications for the period
 
$
4.5

 
$
3.6

 
Net of tax