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Stockholders' Equity And Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2016
Stockholders' Equity Note [Abstract]  
Stockholders' Equity And Accumulated Other Comprehensive Income (Loss)
Stockholders’ Equity and Accumulated Other Comprehensive Loss
Share Repurchase Program
In August 2011, the Company announced a three-year share repurchase program (the “SRP”). Under the SRP, the Company may repurchase its own shares of common stock through a combination of 10b5-1 automatic trading plans, discretionary market purchases or in privately negotiated transactions. As expanded and extended in November 2014, the Company may repurchase a total of up to $1.1 billion of its own stock through the end of 2017 pursuant to the SRP. As of September 30, 2016, the Company had $255.9 million available under the SRP for future repurchases.
Accumulated Other Comprehensive Loss
The following tables display the changes in accumulated other comprehensive loss (“AOCI”) by component for the nine months ended September 30, 2016 and 2015 (in millions):
 
Foreign Currency Translation Loss (1)
 
Unrecognized
Pension & Other
Postretirement
Costs, Net of Tax
 
Derivative Hedging Gain (Loss), Net of Tax
 
AOCI
Balance at December 31, 2015
$
(411.7
)
 
$
(422.3
)
 
$
0.2

 
$
(833.8
)
Other comprehensive (loss) income before reclassifications
(23.3
)
 
13.6

 
(74.5
)
 
(84.2
)
Amounts reclassified to earnings
1.8

 
9.6

 
25.6

 
37.0

Net current period other comprehensive (loss) income
(21.5
)
 
23.2

 
(48.9
)
 
(47.2
)
Balance at September 30, 2016
$
(433.2
)
 
$
(399.1
)
 
$
(48.7
)
 
$
(881.0
)

(1)
Includes foreign exchange losses of $5.7 million arising during the nine months ended September 30, 2016 associated with intercompany loans designated as long-term and $2.3 million of foreign exchange gains associated with long-term debt designated as a hedge of a net investment.
 
Foreign Currency Translation Loss (2)
 
Unrecognized
Pension & Other
Postretirement
Costs, Net of Tax
 
Derivative Hedging Gain (Loss), Net of Tax
 
AOCI
Balance at December 31, 2014
$
(287.8
)
 
$
(511.7
)
 
$
5.1

 
$
(794.4
)
Other comprehensive (loss) income before reclassifications
(128.6
)
 
3.5

 
5.6

 
(119.5
)
Amounts reclassified to earnings
—

 
12.1

 
(6.9
)
 
5.2

Net current period other comprehensive (loss) income
(128.6
)
 
15.6

 
(1.3
)
 
(114.3
)
Balance at September 30, 2015
$
(416.4
)
 
$
(496.1
)
 
$
3.8

 
$
(908.7
)

(2)
Includes foreign exchange losses of $16.9 million arising during the nine months ended September 30, 2015 associated with intercompany loans designated as long-term.
The following table depicts reclassifications out of AOCI to earnings for the periods indicated (in millions):
 
Amount Reclassified to Earnings as Expense (Benefit) in the Statements of Operations
 
Affected Line Item in the Condensed Consolidated Statements of Operations
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2016
 
2015
 
2016
 
2015
 
Foreign currency translation loss:
 
 
 
 
 
 
 
 
 
Total before tax
$
—

 
$
—

 
$
1.8

 
$
—

 
Other (income) expense, net
Tax effect
—

 
—

 
—

 
—

 
 
Net of tax
$
—

 
$
—

 
$
1.8

 
$
—

 
 
Unrecognized pension and other postretirement costs:
 
 
 
 
 
 
 
 
 
Total before tax
$
6.1

 
$
5.7

 
$
13.1

 
$
17.1

 
(1) 
Tax effect
(1.2
)
 
(1.5
)
 
(3.5
)
 
(5.0
)
 
 
Net of tax
$
4.9

 
$
4.2

 
$
9.6

 
$
12.1

 
 
Derivatives:
 
 
 
 
 
 
 
 
 
Total before tax
$
6.0

 
$
(2.4
)
 
$
32.6

 
$
(10.3
)
 
(2) 
Tax effect
(1.2
)
 
1.3

 
(7.0
)
 
3.4

 
 
Net of tax
$
4.8

 
$
(1.1
)
 
$
25.6

 
$
(6.9
)
 
 

(1) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and other postretirement benefit costs, which are recorded in the cost of products sold and selling, general and administrative expenses line-items in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2016 and 2015. See Footnote 11 for further details.
(2) These accumulated other comprehensive income (loss) components are included in cost of products sold, other expense and interest expense line-items in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2016 and 2015. See Footnote 10 for further details.