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Total Equity (Tables)
 6 Months Ended
Jun. 27, 2014
Stockholders' Equity Note [Abstract]  
Schedule of Stockholders Equity
Condensed consolidated statements of changes in total equity are presented below for the six months ended June 27, 2014 and June 28, 2013 (in millions):
 
 
 
General Cable Total Equity
 
 
 
Total Equity
 
Common
Stock
Amount
 
Add’l
Paid in
Capital
 
Treasury
Stock
 
Retained
Earnings
 
Accumulated
Other
Comprehensive
Income/(Loss)
 
Non-Controlling
Interest
Balance, December 31, 2013
$
1,379.8

 
$
0.6

 
$
699.6

 
$
(155.3
)
 
$
847.4

 
$
(112.1
)
 
$
99.6

Comprehensive income (loss)
(358.8
)
 
—

 
—

 
—

 
(340.2
)
 
5.6

 
(24.2
)
Common stock dividend
(17.8
)
 

 

 

 
(17.8
)
 

 

Excess tax benefit from stock compensation
(0.1
)
 

 
(0.1
)
 

 

 

 

Purchase of non-controlling interest
(0.3
)
 

 
(1.5
)
 

 

 

 
1.2

Dividends paid to non-controlling interest
(3.1
)
 

 

 

 

 

 
(3.1
)
Repurchase of common shares
(30.7
)
 

 

 
(30.7
)
 

 

 
—

Other – issuance pursuant to restricted stock, stock options and other
7.5

 

 
6.8

 
0.7

 

 

 


Balance, June 27, 2014
$
976.5

 
$
0.6

 
$
704.8

 
$
(185.3
)
 
$
489.4

 
$
(106.5
)
 
$
73.5

 
 
 
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, 2012
$
1,448.2

 
$
3.8

 
$
0.6

 
$
676.7

 
$
(137.0
)
 
$
892.2

 
$
(104.6
)
 
$
116.5

Comprehensive income (loss)
(74.6
)
 
 
 
 
 
 
 
 
 
(37.4
)
 
(32.7
)
 
(4.5
)
Common and preferred stock dividend
(9.1
)
 
 
 
 
 
 
 
 
 
(9.1
)
 
 
 
 
Excess tax benefit from stock based compensation
(1.0
)
 
 
 
 
 
(1.0
)
 
 
 
 
 
 
 
 
Dividends paid to non-controlling interest
(3.2
)
 
 
 
 
 


 
 
 
 
 
 
 
(3.2
)
Repurchase of treasury shares
(19.0
)
 
 
 
 
 
 
 
(19.0
)
 
 
 
 
 
 
Other – issuance pursuant to restricted stock, stock options and other
6.0

 
 
 
 
 
5.8

 
0.2

 
 
 
 
 


Balance, June 28, 2013
$
1,347.3

 
$
3.8

 
$
0.6

 
$
681.5

 
$
(155.8
)
 
$
845.7

 
$
(137.3
)
 
$
108.8
Components of Accumulated Other Comprehensive Income (Loss)
The components of accumulated other comprehensive income (loss) as of June 27, 2014 and December 31, 2013, respectively, consisted of the following (in millions):
 
June 27, 2014
 
December 31, 2013
 
Company
Common
Shareholders
 
Non-Controlling
Interest
 
Company
Common
Shareholders
 
Non-Controlling
Interest
Foreign currency translation adjustment
$
(66.5
)
 
$
(26.9
)
 
$
(67.1
)
 
$
(24.5
)
Change in fair value of pension benefit obligation, net of tax
(47.6
)
 
(2.8
)
 
(52.6
)
 
(2.9
)
Company deferred stock held in rabbi trust, net of tax
7.3

 
—

 
7.3

 
—

Other
0.3

 
—

 
0.3

 
—

Accumulated other comprehensive income (loss)
$
(106.5
)
 
$
(29.7
)
 
$
(112.1
)
 
$
(27.4
)
The following is the detail of the change in the Company's accumulated other comprehensive income (loss) from December 31, 2013 to June 27, 2014 including the effect of significant reclassifications out of accumulated other comprehensive income (loss) (in millions, net of tax):
 
Foreign currency translation
 
Change of fair value of pension benefit obligation
 
Deferred stock held in rabbi trust
 
Other
 
Total
Balance, December 31, 2013
$
(67.1
)
 
$
(52.6
)
 
$
7.3

 
$
0.3

 
$
(112.1
)
Other comprehensive income before reclassifications
0.6

 
—

 
—

 
—

 
0.6

Amounts reclassified from accumulated other comprehensive income
—

 
5.0

 
—

 
—

 
5.0

Net current - period other comprehensive income
0.6

 
5.0

 
—

 
—

 
5.6

Balance, June 27, 2014
$
(66.5
)
 
$
(47.6
)
 
$
7.3

 
$
0.3

 
$
(106.5
)
The following is the detail of the change in the Company's accumulated other comprehensive income (loss) from December 31, 2012 to June 28, 2013 including the effect of significant reclassifications out of accumulated other comprehensive income (loss) (in millions, net of tax):
 
Foreign currency translation
 
Change of fair value of pension benefit obligation
 
Change in fair value of derivatives
 
Deferred stock held in rabbi trust
 
Other
 
Total
Balance, December 31, 2012
$
(27.9
)
 
$
(84.4
)
 
$
0.1

 
$
7.3

 
$
0.3

 
$
(104.6
)
Other comprehensive income before reclassifications
(36.2
)
 
—

 
(0.8
)
 
—

 
—

 
(37.0
)
Amounts reclassified from accumulated other comprehensive income
—

 
3.3

 
1.0

 
—

 
—

 
4.3

Net current - period other comprehensive income
(36.2
)
 
3.3

 
0.2

 
—

 
—

 
(32.7
)
Balance, June 28, 2013
$
(64.1
)
 
$
(81.1
)
 
$
0.3

 
$
7.3

 
$
0.3

 
$
(137.3
)
Reclassification out of Accumulated Other Comprehensive Income
The following is the detail of the reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended June 27, 2014 (in millions, net of tax):
 
Three Fiscal Months Ended
Six Fiscal Months Ended
 
 
June 27, 2014
June 27, 2014
 
 
Amount reclassified from accumulated other comprehensive income (loss)
Amount reclassified from accumulated other comprehensive income (loss)
Affected line item in the Condensed Consolidated Statement of Operations and Comprehensive Income (Loss)
Amortization of defined pension items
 
 
 
  Prior service cost
0.2

0.4

SG&A
Net loss
0.7

1.4

SG&A
Settlement Loss
3.2

3.2

SG&A
Total
$
4.1

$
5.0

 

 
Three Fiscal Months Ended
Six Fiscal Months Ended
 
 
June 28, 2013
June 28, 2013
 
 
Amount reclassified from accumulated other comprehensive income (loss)
Amount reclassified from accumulated other comprehensive income (loss)
Affected line item in the Condensed Consolidated Statement of Operations and Comprehensive Income (Loss)
Change in fair value of derivatives:
 
 
 
Commodity contracts
$
0.8

$
1.0

Cost of Sales
Total - Change in fair value of derivatives
0.8

1.0

 
Amortization of defined pension items
 
 
 
  Prior service cost
0.2

0.5

SG&A
Net loss
1.4

2.8

SG&A
Total - Amortization of defined benefit pension items
1.6

3.3

 
Total
$
2.4

$
4.3