Shareholders' Investment

9 Months Ended

Sep. 30, 2017

Shareholders' Investment

11. Shareholders’ Investment

The company repurchased approximately 1.0 million shares of common stock for $232.3 million in the nine months ended September 30, 2017 under its previously announced share repurchase authorization.

Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component are as follows:

	Derivative Instruments Designated as Cash Flow Hedges			Foreign Currency Translation Adjustments			Benefit Plans			Total
(dollars in millions)
Balance at December 31, 2015	$	(8.7	)	$	(94.2	)	$	(105.1	)	$	(208.0	)
Other comprehensive income (loss) before reclassifications		(31.1	)		8.2			—			(22.9	)
Tax (provision) benefit (a)		8.5			—			—			8.5
Other comprehensive income (loss) before reclassifications, net of taxes		(22.6	)		8.2			—			(14.4	)
Reclassifications		6.6	(b)		—			7.8	(c)		14.4
Tax provision (benefit)		0.1			—			(2.7	)		(2.6	)
Reclassifications, net of tax		6.7			—			5.1			11.8
Other comprehensive income (loss)		(15.9	)		8.2			5.1			(2.6	)
Balance at September 30, 2016	$	(24.6	)	$	(86.0	)	$	(100.0	)	$	(210.6	)
Balance at December 31, 2016	$	(9.9	)	$	(116.0	)	$	(109.6	)	$	(235.5	)
Other comprehensive income (loss) before reclassifications		(0.6	)		55.3			9.4			64.1
Tax (provision) benefit (a)		1.9			—			(3.0	)		(1.1	)
Other comprehensive income (loss) before reclassifications, net of taxes		1.3			55.3			6.4			63.0
Reclassifications		4.1	(b)		—			9.8	(c)		13.9
Tax provision (benefit)		—			—			(3.4	)		(3.4	)
Reclassifications, net of tax		4.1			—			6.4			10.5
Other comprehensive income (loss)		5.4			55.3			12.8			73.5
Balance at September 30, 2017	$	(4.5	)	$	(60.7	)	$	(96.8	)	$	(162.0	)

(a) Income taxes are not provided for foreign currency translation adjustment.

(b) See Note 6 of the notes to condensed consolidated financial statements.

(c) These components are included in the computation of net periodic pension cost. See Note 10 of the notes to condensed consolidated financial statements.