Equity (Tables)

3 Months Ended

Mar. 31, 2019

Stockholders' Equity Note [Abstract]

Schedule of share repurchase activity

The Company’s share repurchase activity for the periods indicated is presented in the following table:

	Three Months Ended
	March 31,
	2019		2018
Number of shares repurchased (1)	212,424		239,268
Cash paid for repurchased shares (in thousands) (2)	$	44,839	$	28,394

(1) The average purchase price for repurchased shares was $140.46 and $118.73 for the three months ended March 31, 2019 and 2018, respectively. All of the shares repurchased in both quarterly periods related to the settlement of the Company's stock-based compensation awards.

(2) The cash paid for repurchased shares during the three months ended March 31, 2019 included open market purchases with trade dates in December 2018 that settled in January 2019.

Schedule of Stockholders Equity [Table Text Block]

The following tables provide a reconciliation of changes in the Company's Stockholders' Equity for the periods indicated (in thousands):

For the three months ended March 31, 2019:

	Common Stock		Additional Paid-In Capital			Accumulated Other Comprehensive Loss, Net			Accumulated Earnings		Treasury Stock			Total
Balance at December 31, 2018	$	82	$	1,823,710		$	(39,867	)	$	1,755,432	$	(2,688,600	)	$	850,757
Net income	—		—			—			20,795		—			20,795
Other comprehensive loss	—		—			(21,699		)	—		—			(21,699		)
Issuances under stock plans	—		(2,911		)	—			—		7,973			5,062
Common share repurchases	—		—			—			—		(29,837		)	(29,837		)
Stock-based compensation expense	—		31,819			—			—		—			31,819
Balance at March 31, 2019	$	82	$	1,852,618		$	(61,566	)	$	1,776,227	$	(2,710,464	)	$	856,897

For the three months ended March 31, 2018:

	Common Stock		Additional Paid-In Capital			Accumulated Other Comprehensive Income, Net		Accumulated Earnings			Treasury Stock			Total
Balance at December 31, 2017	$	82	$	1,761,383		$	1,508	$	1,647,284		$	(2,426,792	)	$	983,465
Adoption of ASU No. 2016-16 (1)	—		—			—		(13,717		)	—			(13,717		)
Net loss	—		—			—		(19,587		)	—			(19,587		)
Other comprehensive income	—		—			30,717		—			—			30,717
Issuances under stock plans	—		(4,296		)	—		—			8,439			4,143
Common share repurchases	—		—			—		—			(28,408		)	(28,408		)
Stock-based compensation expense	—		30,958			—		—			—			30,958
Balance at March 31, 2018	$	82	$	1,788,045		$	32,225	$	1,613,980		$	(2,446,761	)	$	987,571

(1)

On January 1, 2018, the Company adopted ASU No. 2016-16, "Intra-Entity Transfers of Assets Other Than Inventory" ("ASU No. 2016-16"). ASU No. 2016-16 accelerates the recognition of taxes on certain intra-entity transactions. As a result of the transition rules under ASU No. 2016-16, certain of the Company's balance sheet income tax accounts pertaining to pre-2018 intra-entity transfers, which aggregated $13.7 million, were reversed against accumulated earnings on January 1, 2018.

Schedule of the changes in Accumulated Other Comprehensive (Loss) Income by component (net of tax)

The following tables disclose information about changes in AOCI/L by component and the related amounts reclassified out of AOCI/L to income during the periods indicated (net of tax, in thousands) (1):

For the three months ended March 31, 2019:

	Interest Rate Swaps			Defined Benefit Pension Plans			Foreign Currency Translation Adjustments			Total
Balance – December 31, 2018	$	(7,770	)	$	(5,738	)	$	(26,359	)	$	(39,867	)
Other comprehensive income (loss) activity during the period:
Change in AOCI/L before reclassifications to income	(12,853		)	—			(7,236		)	(20,089		)
Reclassifications from AOCI/L to income (2), (3)	(1,652		)	42			—			(1,610		)
Other comprehensive income (loss) for the period	(14,505		)	42			(7,236		)	(21,699		)
Balance – March 31, 2019	$	(22,275	)	$	(5,696	)	$	(33,595	)	$	(61,566	)

For the three months ended March 31, 2018:

	Interest Rate Swaps		Defined Benefit Pension Plans			Foreign Currency Translation Adjustments		Total
Balance – December 31, 2017	$	2,483	$	(5,861	)	$	4,886	$	1,508
Other comprehensive income (loss) activity during the period:
Change in AOCI/L before reclassifications to income	9,365		—			20,547		29,912
Reclassifications from AOCI/L to income (2), (3)	749		56			—		805
Other comprehensive income (loss) for the period	10,114		56			20,547		30,717
Balance – March 31, 2018	$	12,597	$	(5,805	)	$	25,433	$	32,225

(1) Amounts in parentheses represent debits (deferred losses).

(2) The reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net of tax effect. See Note 6 – Debt and Note 9 – Derivatives and Hedging for information regarding the cash flow hedges.

(3)

The reclassifications related to defined benefit pension plans were primarily recorded in Selling, general and administrative expense, net of tax effect. See Note 11 – Employee Benefits for information regarding the Company’s defined benefit pension plans.