13.	Stockholders' Equity

Dividends

During the six months ended June 30, 2017, we paid $118.8 million of dividends to shareholders. On May 17, 2017 PCA's Board of Directors announced a regular quarterly cash dividend of $0.63 per share of common stock, which was paid on July 14, 2017 to shareholders of record as of June 15, 2017. The April 2017 dividend payment was $59.4 million.

Repurchases of Common Stock

On February 25, 2016, PCA announced that its Board of Directors authorized the repurchase of an additional $200.0 million of the Company’s outstanding common stock. Repurchases may be made from time to time in open market or privately negotiated transactions in accordance with applicable securities regulations. The timing and amount of repurchases will be determined by the Company in its discretion based on factors such as PCA’s stock price and market and business conditions.

The Company did not repurchase any shares of its common stock during the three and six months ended June 30, 2017.

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) (AOCI) by component were as follows (dollars in millions). Amounts in parentheses indicate losses:

	Unrealized Loss On Treasury Locks, Net			Unrealized Loss on Foreign Exchange Contracts			Unfunded Employee Benefit Obligations			Total
Balance at January 1, 2017	$	(17.8	)	$	(0.4	)	$	(121.4	)	$	(139.6	)
Amounts reclassified from AOCI, net of tax		1.6			(0.3	)		4.3			5.6
Balance at June 30, 2017	$	(16.2	)	$	(0.7	)	$	(117.1	)	$	(134.0	)

Reclassifications out of AOCI were as follows (dollars in millions). Amounts in parentheses indicate expenses in the Consolidated Statements of Income:

	Amounts Reclassified from AOCI
	Three Months Ended June 30,						Six Months Ended June 30,
Details about AOCI Components	2017			2016			2017			2016
Unrealized loss on treasury locks, net	$	(1.4	)	$	(1.4	)	$	(2.8	)	$	(2.8	)	See (a) below
		0.6			0.6			1.2			1.1		Tax benefit
	$	(0.8	)	$	(0.8	)	$	(1.6	)	$	(1.7	)	Net of tax

Unfunded employee benefit obligations
Amortization of prior service costs	$	(1.4	)	$	(1.4	)	$	(2.9	)	$	(2.8	)	See (b) below
Amortization of actuarial losses		(1.9	)		(1.2	)		(3.7	)		(2.4	)	See (b) below
		(3.3	)		(2.6	)		(6.6	)		(5.2	)	Total before tax
		1.2			1.0			2.3			2.0		Tax benefit
	$	(2.1	)	$	(1.6	)	$	(4.3	)	$	(3.2	)	Net of tax

(a)

This AOCI component is included in interest expense, net. Amount relates to the amortization of the effective portion of treasury lock derivative instruments recorded in AOCI. The net amount of settlement gains or losses on derivative instruments included in AOCI to be amortized over the next 12 months is a net loss of $5.7 million ($3.5 million after tax). For a discussion of treasury lock derivative instrument activity, see Note 13, Derivative Instruments and Hedging Activities, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of our 2016 Annual Report on Form 10-K.

(b)	These AOCI components are included in the computation of net pension and postretirement benefit costs. See Note 11, Employee Benefit Plans and Other Postretirement Benefits, for additional information.