Total Equity

9 Months Ended

Sep. 28, 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 nine months ended September 28, 2012 and September 30, 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	$	1,461.7		$	3.8	$	0.6	$	666.7	$	(136.5	)	$	912.8		$	(99.0	)	$	113.3
Comprehensive income (loss):
Net income (loss) including non-controlling interest	26.9												21.2						5.7
Foreign currency translation adj.	3.0															1.9			1.1
Gain (loss) defined benefit plan	(2.1		)													(2.1		)
Unrealized gain (loss) on financial instruments	6.7															6.5			0.2
Comprehensive income (loss)	34.5
Preferred stock dividend	(0.3		)										(0.3		)
Excess tax benefit from stock compensation	0.1							0.1
Dividends paid to non-controlling interest	(2.3		)																(2.3		)
Other – issuance pursuant to restricted stock, stock options and other	9.1							9.3		(0.2		)
Balance, September 28, 2012	$	1,502.8		$	3.8	$	0.6	$	676.1	$	(136.7	)	$	933.7		$	(92.7	)	$	118.0

	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	$	1,567.3		$	3.8	$	0.6	$	652.8	$	(74.0	)	$	847.1		$	13.7		$	123.3
Comprehensive income (loss):
Net income including noncontrolling interest	67.0												65.4						1.6
Foreign currency translation adj.	(24.9		)													(23.0		)	(1.9		)
Gain (loss) defined benefit plan	—															0.9			(0.9		)
Unrealized gain (loss) on financial instruments	(69.7		)													(69.5		)	(0.2		)
Comprehensive income (loss)	(27.6		)
Preferred stock dividend	(0.3		)										(0.3		)
Excess tax benefit from stock compensation	1.0							1.0
Dividends paid to non-controlling interest	(3.8		)																(3.8		)
Other – issuance pursuant to restricted stock, stock options and other	8.4							9.5		0.2									(1.3		)
Balance, September 30, 2011	$	1,545.0		$	3.8	$	0.6	$	663.3	$	(73.8	)	$	912.2		$	(77.9	)	$	116.8

The components of accumulated other comprehensive income (loss) as of September 28, 2012 and December 31, 2011, respectively, consisted of the following (in millions):

	September 28, 2012						December 31, 2011
	Company Common Shareholders			Non-Controlling Interest			Company Common Shareholders			Non-Controlling Interest
Foreign currency translation adjustment	$	(14.0	)	$	(17.2	)	$	(15.9	)	$	(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	(21.2		)	(0.4		)	(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)	$	(92.7	)	$	(20.8	)	$	(99.0	)	$	(22.1	)

Comprehensive income consists of the following (in millions):

	Three Fiscal Months Ended
	September 28, 2012					September 30, 2011
	Company Common Shareholders			Non-Controlling Interest		Company Common Shareholders			Non-Controlling Interest
Net income (1)	$	(20.5	)	$	2.3	$	(2.0	)	$	0.3
Currency translation gain (loss)	19.9			0.9		(87.2		)	(3.2		)
Change in fair value of pension benefit obligation, net of tax	—			—		0.2			(0.2		)
Change in fair value of derivatives, net of tax	4.0			0.1		(49.5		)	(0.2		)
Comprehensive income (loss)	$	3.4		$	3.3	$	(138.5	)	$	(3.3	)

(1) Net income before preferred stock dividend payments.

	Nine Fiscal Months Ended
	September 28, 2012					September 30, 2011
	Company Common Shareholders			Non-Controlling Interest		Company Common Shareholders			Non-Controlling Interest
Net income (1)	$	21.2		$	5.7	$	65.4		$	1.6
Currency translation gain (loss)	1.9			1.1		(23.0		)	(1.9		)
Change in fair value of pension benefit obligation, net of tax	(2.1		)	—		0.9			(0.9		)
Change in fair value of derivatives, net of tax	6.5			0.2		(69.5		)	(0.2		)
Comprehensive income (loss)	$	27.5		$	7.0	$	(26.2	)	$	(1.4	)

(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 Amended Annual Report on Form 10-K/A. 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 $37.1 million and $31.9 million as of September 28, 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 September 28, 2012 and December 31, 2011 was $17.4 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 September 28, 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 $19.5 million and $16.9 million, respectively, and are classified as “other liabilities” in the condensed consolidated balance sheets.