SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2015

Stockholders' Equity Note [Abstract]

SHAREHOLDERS' EQUITY

SHAREHOLDERS’ EQUITY

On April 24, 2014, our board of directors authorized a new share repurchase program for up to 8 million shares of common stock that will terminate in three years for any of the remaining shares not yet repurchased. This authorization replaced the July 2011 share repurchase program.  For the three months ended March 31, 2015, no shares were purchased and retired. For the three months ended March 31, 2014, 0.6 million shares were purchased and retired at a cost of $14.7 million.  As of March 31, 2015, we had purchased a total of 1.9 million shares under the April 2014 program, and 6.1 million shares remained authorized to be purchased. Under the Merger Agreement relating to our pending acquisition of certain chlor alkali and downstream derivatives businesses from TDCC, we are restricted from repurchasing shares of our common stock prior to the consummation of the Merger.  After the closing of the Merger for a period of two years, we will continue to be subject to certain restrictions on our ability to conduct share repurchases, subject to certain exceptions.

We issued 0.1 million shares and 0.2 million shares representing stock options exercised for the three months ended March 31, 2015 and 2014, respectively, with a total value of $2.8 million and $5.3 million, respectively.

The following table represents the activity included in accumulated other comprehensive loss:

	Foreign Currency Translation Adjustment			Unrealized Gains (Losses) on Derivative Contracts (net of taxes)			Pension and Postretirement Benefits (net of taxes)			Accumulated Other Comprehensive Loss
	($ in millions)
Balance at January 1, 2014	$	(0.5	)	$	0.9		$	(365.5	)	$	(365.1	)
Unrealized gains (losses)	0.7			(5.7		)	—			(5.0		)
Reclassification adjustments into income	—			0.6			6.5			7.1
Tax benefit (provision)	—			2.0			(2.5		)	(0.5		)
Net change	0.7			(3.1		)	4.0			1.6
Balance at March 31, 2014	$	0.2		$	(2.2	)	$	(361.5	)	$	(363.5	)
Balance at January 1, 2015	$	(2.3	)	$	(4.2	)	$	(436.6	)	$	(443.1	)
Unrealized losses	(1.4		)	(2.4		)	—			(3.8		)
Reclassification adjustments into income	—			1.9			8.6			10.5
Tax benefit (provision)	—			0.2			(3.5		)	(3.3		)
Net change	(1.4		)	(0.3		)	5.1			3.4
Balance at March 31, 2015	$	(3.7	)	$	(4.5	)	$	(431.5	)	$	(439.7	)

Net income and cost of goods sold included reclassification adjustments for realized gains and losses on derivative contracts from accumulated other comprehensive loss.  

Net income, cost of goods sold and selling and administrative expenses included the amortization of prior service costs and actuarial losses from accumulated other comprehensive loss. This amortization is recognized equally in cost of goods sold and selling and administrative expenses.