STOCKHOLDERS’ EQUITY

Total non-stockholder changes in equity (comprehensive income) include all changes in equity during a period except those resulting from investments by, and distributions to, stockholders. The specific components include: net income, deferred gains and losses resulting from foreign currency translation, pension liability adjustments, equity security adjustments and deferred gains and losses resulting from derivative hedging transactions. Total non-stockholder changes in equity were as follows (in millions):



	Three Months Ended March 31,
	2017			2016
Net income (loss)	$	(4.6	)	$	(71.0	)
Other comprehensive income (loss), net of tax:
Cumulative translation adjustment (“CTA”), net of (provision for) benefit from taxes of $(4.5) and $0.3, respectively	371.0			61.9
Derivative hedging adjustment, net of (provision for) benefit from taxes of $(0.7) and $0.3, respectively	1.1			(3.6		)
Debt and equity securities adjustment, net of (provision for) benefit from taxes of $0.0 and $0.0, respectively	0.1			(0.4		)
Pension liability adjustment:
Amortization of actuarial (gain) loss, net of provision for (benefit from) taxes of $(0.6) and $(0.5), respectively	1.3			1.9
Divestiture of business, net of provision for (benefit from) taxes of $(23.9) and $0.0	55.4			—
Foreign exchange and other effects, net of (provision for) benefit from taxes of $0.3 and $1.2, respectively	(0.8		)	(1.4		)
Total pension liability adjustment	55.9			0.5
Other comprehensive income (loss)	428.1			58.4
Comprehensive income (loss)	423.5			(12.6		)
Comprehensive loss (income) attributable to noncontrolling interest	—			0.1
Comprehensive income (loss) attributable to Terex Corporation	$	423.5		$	(12.5	)

Changes in Accumulated Other Comprehensive Income (Loss)

The table below presents changes in AOCI by component for the three months ended March 31, 2017 and 2016. All amounts are net of tax (in millions).



	Three months ended March 31, 2017														Three months ended March 31, 2016
	CTA (1)			Deriv. Hedging Adj.			Debt & Equity Securities Adj.		Pension Liability Adj. (2)			Total			CTA			Deriv. Hedging Adj.			Debt & Equity Securities Adj.			Pension Liability Adj.			Total
Beginning balance	$	(615.3	)	$	(2.4	)	$	0.6	$	(162.3	)	$	(779.4	)	$	(492.7	)	$	2.3		$	(6.3	)	$	(152.9	)	$	(649.6	)
Other comprehensive income (loss) before reclassifications	18.9			(0.6		)	—		(0.8		)	17.5			61.9			(2.4		)	(0.4		)	(1.4		)	57.7
Amounts reclassified from AOCI	352.1			1.7			0.1		56.7			410.6			—			(1.2		)	—			1.9			0.7
Net other comprehensive Income (Loss)	371.0			1.1			0.1		55.9			428.1			61.9			(3.6		)	(0.4		)	0.5			58.4
Ending balance	$	(244.3	)	$	(1.3	)	$	0.7	$	(106.4	)	$	(351.3	)	$	(430.8	)	$	(1.3	)	$	(6.7	)	$	(152.4	)	$	(591.2	)

(1) Reclassification of $352.1 million of losses (net of $1.5 million of tax benefits) from AOCI to Gain (loss) on disposition of discontinued operations - net of tax in connection with the sale of the MHPS business during the three months ended March 31, 2017.

(2) Reclassification of AOCI during the three months ended March 31, 2017 primarily relates to $55.4 million of losses (net of $23.9 million of tax benefits) reclassified from AOCI to Gain (loss) on disposition of discontinued operations - net of tax in connection with the sale of the MHPS business.

Noncontrolling Interest

During the three months ended March 31, 2017 Noncontrolling interest decreased by $36.1 million primarily due to the divestiture of our MHPS segment.

Stock-Based Compensation

During the three months ended March 31, 2017, the Company awarded 1.3 million shares of restricted stock to its employees with a weighted average grant date fair value of $32.33 per share. Approximately 62% of these restricted stock awards vest ratably over a three year period and approximately 38% cliff vest at the end of a three year period. Approximately 13% of the shares granted are based on performance targets containing a market condition determined over a three year period. The Company used the Monte Carlo method to determine grant date fair value of $36.48 per share for the awards with a market condition granted on March 2, 2017. The Monte Carlo method is a statistical simulation technique used to provide the grant date fair value of an award. The following table presents the weighted-average assumptions used in the valuation:



	Grant date
	March 2, 2017
Dividend yields	1.01	%
Expected volatility	42.78	%
Risk free interest rate	1.55	%
Expected life (in years)	3

Share Repurchases and Dividends

In February 2015, the Company announced authorization by its Board of Directors for the repurchase of up to $200 million of the Company’s outstanding shares of common stock. In February 2017, the Company’s Board of Directors announced authorization for the repurchase of up to an additional $350 million of the Company’s outstanding shares of common stock. During the three months ended March 31, 2017, the Company repurchased approximately 6.5 million shares for approximately $201.0 million under these programs. A portion of the share repurchases was executed prior to March 31, 2017 but cash settled in April. In the first quarter of 2017, the Company’s Board of Directors declared a dividend of $0.08 per share, which was paid to its shareholders.