NOTE 14 — EQUITY

The following tables illustrate the components of total equity and comprehensive income for the three months ended February 28, 2015 and 2014:


(In thousands)	Total RPM International Inc. Equity			Noncontrolling Interest			Total Equity
Total equity at November 30, 2014	$	1,390,387		$	201,091		$	1,591,478
Net income		(57,348	)		(21,604	)		(78,952	)
Other Comprehensive Income:
Foreign currency translation adjustments		(79,063	)		(212	)		(79,275	)
Pension and other postretirement benefit liability adjustments, net of tax		6,346			165			6,511
Unrealized (loss) on securities, net of tax		(3,488	)		—			(3,488	)
Unrealized gain on derivatives, net of tax		497			(77	)		420

Total Other Comprehensive Income, net of tax		(75,708	)		(124	)		(75,832	)

Comprehensive Income		(133,056	)		(21,728	)		(154,784	)
Dividends paid		(34,778	)					(34,778	)
Other noncontrolling interest activity		(47	)		47			—
Increase in equity ownership of SPHC		29,366			(177,267	)		(147,901	)
Shares repurchased		(25,800	)					(25,800	)
Stock option exercises, net		(984	)					(984	)
Stock based compensation expense		941						941
Restricted awards, net		5,621						5,621

Total Equity at February 28, 2015	$	1,231,650		$	2,143		$	1,233,793


(In thousands)	Total RPM International Inc. Equity			Noncontrolling Interest			Total Equity
Total equity at November 30, 2013	$	1,322,222		$	171,638		$	1,493,860
Net income		16,221			690			16,911
Other Comprehensive Income:
Foreign currency translation adjustments		(18,446	)		6,300			(12,146	)
Pension and other postretirement benefit liability adjustments, net of tax		3,469			357			3,826
Unrealized (loss) gain on securities, net of tax		(2,312	)		(2	)		(2,314	)
Unrealized gain on derivatives, net of tax		(380	)		(104	)		(484	)

Total Other Comprehensive Income, net of tax		(17,669	)		6,551			(11,118	)

Comprehensive Income		(1,448	)		7,241			5,793
Dividends paid		(31,967	)					(31,967	)
Other noncontrolling interest activity		(832	)		832			—
Shares repurchased		(28	)					(28	)
Stock option exercises, net		(1,640	)					(1,640	)
Stock based compensation expense		682						682
Restricted awards, net		5,237						5,237
Convertible bond, equity component, net of tax		13,470						13,470
Deferred financing costs, convertible bond		(492	)					(492	)

Total Equity at February 28, 2014	$	1,305,204		$	179,711		$	1,484,915

The following table illustrates the components of total equity and comprehensive income for the nine months ended February 28, 2015 and 2014:


(In thousands)	Total RPM International Inc. Equity			Noncontrolling Interest			Total Equity
Total equity at May 31, 2014	$	1,382,844		$	195,750		$	1,578,594
Net income		111,497			(11,754	)		99,743
Other Comprehensive Income:
Foreign currency translation adjustments		(186,263	)		(5,500	)		(191,763	)
Pension and other postretirement benefit liability adjustments, net of tax		13,480			945			14,425
Unrealized (loss) on securities, net of tax		(5,979	)		—			(5,979	)
Unrealized gain on derivatives, net of tax		668			(31	)		637

Total Other Comprehensive (Loss), net of tax		(178,094	)		(4,586	)		(182,680	)

Comprehensive Income		(66,597	)		(16,340	)		(82,937	)
Dividends paid		(101,541	)					(101,541	)
Increase in equity ownership of SPHC		29,366			(177,267	)		(147,901	)
Shares repurchased		(27,588	)					(27,588	)
Stock option exercises, net		(479	)					(479	)
Stock based compensation expense		2,845						2,845
Restricted awards, net		12,800						12,800

Total Equity at February 28, 2015	$	1,231,650		$	2,143		$	1,233,793


(In thousands)	Total RPM International Inc. Equity			Noncontrolling Interest			Total Equity
Total equity at May 31, 2013	$	1,200,858		$	154,075		$	1,354,933
Net income		182,881			9,333			192,214
Other Comprehensive Income:
Foreign currency translation adjustments		(16,108	)		14,753			(1,355	)
Pension and other postretirement benefit liability adjustments, net of tax		8,430			531			8,961
Unrealized gain (loss) on securities, net of tax		2,597			51			2,648
Unrealized (loss) on derivatives, net of tax		(1,076	)		(293	)		(1,369	)

Total Other Comprehensive Income, net of tax		(6,157	)		15,042			8,885

Comprehensive Income		176,724			24,375			201,099
Dividends paid		(93,763	)					(93,763	)
Other noncontrolling interest activity		(1,261	)		1,261			—
Shares repurchased		(6,895	)					(6,895	)
Stock option exercises, net		1,022						1,022
Stock based compensation expense		2,164						2,164
Restricted awards, net		13,377						13,377
Convertible bond, equity component, net of tax		13,470						13,470
Deferred financing costs, convertible bond		(492	)					(492	)

Total Equity at February 28, 2014	$	1,305,204		$	179,711		$	1,484,915