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Total Equity
 6 Months Ended
Jun. 29, 2012
Stockholders' Equity Note [Abstract]  
Total Equity
Total Equity
General Cable is authorized to issue 200 million shares of common stock and 25 million shares of preferred stock.
Condensed consolidated statements of changes in total equity are presented below for the six months ended June 29, 2012 and July 1, 2011 (in millions):
 
 
 
General Cable Total Equity
 
Total Equity
 
Preferred
Stock
Amount
 
Common
Stock
Amount
 
Add’l
Paid in
Capital
 
Treasury
Stock
 
Retained
Earnings
 
Accumulated
Other
Comprehensive
Income/(Loss)
 
Non-Controlling
Interest
Balance, December 31, 2011
$
1,511.9

 
$
3.8

 
$
0.6

 
$
666.7

 
$
(136.5
)
 
$
959.1

 
$
(95.1
)
 
$
113.3

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) including non-controlling interest
50.3

 

 

 

 

 
46.9

 

 
3.4

Foreign currency translation adj.
(20.1
)
 

 

 

 

 

 
(20.3
)
 
0.2

Gain (loss) defined benefit plan
(2.1
)
 

 

 

 

 

 
(2.1
)
 


Unrealized gain (loss) on financial instruments
2.6

 

 

 

 

 

 
2.5

 
0.1

Comprehensive income (loss)
30.7

 

 

 

 

 

 

 

Preferred stock dividend
(0.2
)
 

 

 

 

 
(0.2
)
 

 

Excess tax benefit from stock compensation
0.1

 

 

 
0.1

 

 

 

 

Dividends paid to non-controlling interest
(1.9
)
 

 

 

 

 

 

 
(1.9
)
Other – issuance pursuant to restricted stock, stock options and other
6.9

 

 

 
5.6

 
1.3

 

 

 


Balance, June 29, 2012
$
1,547.5

 
$
3.8

 
$
0.6

 
$
672.4

 
$
(135.2
)
 
$
1,005.8

 
$
(115.0
)
 
$
115.1

 
 
 
General Cable Total Equity
 
Total Equity
 
Preferred
Stock
Amount
 
Common
Stock
Amount
 
Add’l
Paid in
Capital
 
Treasury
Stock
 
Retained
Earnings
 
Accumulated
Other
Comprehensive
Income/(Loss)
 
Non-Controlling
Interest
Balance, December 31, 2010
$
1,605.3

 
$
3.8

 
$
0.6

 
$
652.8

 
$
(74.0
)
 
$
875.3

 
$
23.5

 
$
123.3

Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income including noncontrolling interest
77.2

 
 
 
 
 
 
 
 
 
75.9

 
 
 
1.3

Foreign currency translation adj.
68.0

 
 
 
 
 
 
 
 
 
 
 
66.7

 
1.3

Gain (loss) defined benefit plan
—

 
 
 
 
 
 
 
 
 
 
 
0.7

 
(0.7
)
Unrealized gain (loss) on financial instruments
(20.0
)
 
 
 
 
 
 
 
 
 
 
 
(20.0
)
 
—

Comprehensive income (loss)
125.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Preferred stock dividend
(0.2
)
 
 
 
 
 
 
 
 
 
(0.2
)
 
 
 
 
Excess tax benefit from stock compensation
0.7

 
 
 
 
 
0.7

 
 
 
 
 
 
 
 
Dividends paid to non-controlling interest
(2.8
)
 
 
 
 
 


 
 
 
 
 
 
 
(2.8
)
Other – issuance pursuant to restricted stock, stock options and other
4.0

 
 
 
 
 
6.0

 
(0.7
)
 
 
 
 
 
(1.3
)
Balance, July 1, 2011
$
1,732.2

 
$
3.8

 
$
0.6

 
$
659.5

 
$
(74.7
)
 
$
951.0

 
$
70.9

 
$
121.1


The components of accumulated other comprehensive income (loss) as of June 29, 2012 and December 31, 2011, respectively, consisted of the following (in millions):
 
June 29, 2012
 
December 31, 2011
 
Company
Common
Shareholders
 
Non-Controlling
Interest
 
Company
Common
Shareholders
 
Non-Controlling
Interest
Foreign currency translation adjustment
$
(32.3
)
 
$
(18.1
)
 
$
(12.0
)
 
$
(18.3
)
Change in fair value of pension benefit obligation, net of tax
(65.1
)
 
(3.2
)
 
(63.0
)
 
(3.2
)
Change in fair value of derivatives, net of tax
(25.2
)
 
(0.5
)
 
(27.7
)
 
(0.6
)
Company deferred stock held in rabbi trust, net of tax
7.3

 
—

 
7.3

 
—

Other
0.3

 
—

 
0.3

 
—

Accumulated other comprehensive income (loss)
$
(115.0
)
 
$
(21.8
)
 
$
(95.1
)
 
$
(22.1
)

Comprehensive income consists of the following (in millions):
 
Three Fiscal Months Ended
 
June 29, 2012
 
July 1, 2011
 
Company
Common
Shareholders
 
Non-Controlling
Interest
 
Company
Common
Shareholders
 
Non-Controlling
Interest
Net income (1)
$
21.9

 
$
2.1

 
$
37.6

 
$
0.5

Currency translation gain (loss)
(61.3
)
 
(2.9
)
 
23.4

 
1.5

Change in fair value of pension benefit obligation, net of tax
(2.2
)
 
0.1

 
0.3

 
(0.3
)
Change in fair value of derivatives, net of tax
(3.4
)
 
—

 
(5.5
)
 
—

Comprehensive income (loss)
$
(45.0
)
 
$
(0.7
)
 
$
55.8

 
$
1.7

 
(1)
Net income before preferred stock dividend payments.
 
Six Fiscal Months Ended
 
June 29, 2012
 
July 1, 2011
 
Company
Common
Shareholders
 
Non-Controlling
Interest
 
Company
Common
Shareholders
 
Non-Controlling
Interest
Net income (1)
$
46.9

 
$
3.4

 
$
75.9

 
$
1.3

Currency translation gain (loss)
(20.3
)
 
0.2

 
66.7

 
1.3

Change in fair value of pension benefit obligation, net of tax
(2.1
)
 
—

 
0.7

 
(0.7
)
Change in fair value of derivatives, net of tax
2.5

 
0.1

 
(20.0
)
 
—

Comprehensive income (loss)
$
27.0

 
$
3.7

 
$
123.3

 
$
1.9

(1)
Net income before preferred stock dividend payments.
The Company maintains a deferred compensation plan (“Deferred Compensation Plan”) under the terms and conditions disclosed in the Company’s 2011 Annual Report on Form 10-K. The Company accounts for the Deferred Compensation Plan in accordance with ASC 710 - Compensation–General as it relates to arrangements where amounts earned are held in a rabbi trust. The market value of mutual fund investments, nonvested and subsequently vested stock and restricted stock in the rabbi trust was $33.8 million and $31.9 million as of June 29, 2012 and December 31, 2011, respectively. The market value of the assets held by the rabbi trust, exclusive of the market value of the shares of the Company’s nonvested and subsequently vested restricted stock, restricted stock units held in the deferred compensation plan and Company stock investments by participants’ elections, at June 29, 2012 and December 31, 2011 was $16.5 million and $15.2 million, respectively, and is classified as “other non-current assets” in the condensed consolidated balance sheets. Amounts payable to the plan participants at June 29, 2012 and December 31, 2011, excluding the market value of the shares of the Company’s nonvested and subsequently vested restricted stock and restricted stock units held, were $18.3 million and $16.9 million, respectively, and are classified as “other liabilities” in the condensed consolidated balance sheets.