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Stockholders' Equity
 12 Months Ended
Dec. 31, 2014
Stockholders' Equity Note [Abstract]  
STOCKHOLDERS' EQUITY
STOCKHOLDERS’ EQUITY
Capital stock—The following is a summary of our capital stock activity for the years ended December 31, 2014, 2013 and 2012:
(Number of shares in thousands)
Common
Stock Issued
 
Common Stock
Held in 
Employee
Benefit Trust
 
Treasury Stock
December 31, 2011
286,318

 
169

 
48,316

Stock awards
—

 
—

 
(1,393
)
Treasury stock purchases
—

 
—

 
2,138

Net stock purchased for (sold from) employee benefit trust
—

 
27

 
—

December 31, 2012
286,318

 
196

 
49,061

Stock awards
—

 
—

 
(998
)
Treasury stock purchases
—

 
—

 
2,255

Net stock purchased for (sold from) employee benefit trust
—

 
(16
)
 
—

December 31, 2013
286,318

 
180

 
50,318

Stock awards
—

 
—

 
(547
)
Treasury stock purchases
—

 
—

 
4,855

Net stock purchased for (sold from) employee benefit trust
—

 
(13
)
 
—

December 31, 2014
286,318

 
167

 
54,626


The plan administrator of the Non-Qualified Plan purchases shares of our common stock on the open market. Such shares are placed in a trust owned by FMC Technologies.
As of December 31, 2014, the Board of Directors had authorized 75 million shares for repurchase. We repurchased $247.6 million, $116.3 million and $91.1 million of common stock during 2014, 2013 and 2012, respectively, under the authorized repurchase program. As of December 31, 2014, approximately 8.0 million shares remained available for purchase under the current program which may be executed from time to time in the open market. We intend to hold repurchased shares in treasury for general corporate purposes, including issuances under our employee incentive compensation and stock plans. Treasury shares are accounted for using the cost method.
No cash dividends were declared on our common stock in 2014, 2013 or 2012.
Accumulated other comprehensive loss—Accumulated other comprehensive loss consisted of the following:
(In millions)
Foreign Currency
Translation
 
Hedging
 
Defined Pension and  Other
Post-Retirement Benefits
 
Accumulated Other
Comprehensive Loss
December 31, 2012
$
(104.6
)
 
$
10.0

 
$
(301.4
)
 
$
(396.0
)
Other comprehensive income (loss) before reclassifications, net of tax
(99.7
)
 
27.1

 
112.1

 
39.5

Reclassification adjustment for net (gains) losses included in net income, net of tax
—

 
(5.2
)
 
21.0

 
15.8

Other comprehensive income (loss), net of tax
(99.7
)
 
21.9

 
133.1

 
55.3

December 31, 2013
(204.3
)
 
31.9

 
(168.3
)
 
(340.7
)
Other comprehensive income (loss) before reclassifications, net of tax
(107.6
)
 
(108.4
)
 
(154.4
)
 
(370.4
)
Reclassification adjustment for net (gains) losses included in net income, net of tax
—

 
(0.8
)
 
28.2

 
27.4

Other comprehensive income (loss), net of tax
(107.6
)
 
(109.2
)
 
(126.2
)
 
(343.0
)
December 31, 2014
$
(311.9
)
 
$
(77.3
)
 
$
(294.5
)
 
$
(683.7
)


Reclassifications out of accumulated other comprehensive loss—Reclassifications out of accumulated other comprehensive loss consisted of the following:
 
 
Year Ended
 
 
(In millions)
 
December 31, 2014
 
December 31, 2013
 
 
Details about Accumulated Other Comprehensive Loss Components
 
Amount Reclassified out of Accumulated Other Comprehensive Loss
 
Affected Line Item in the Consolidated Statement of Income
Gains (losses) on hedging instruments
 
 
 
 
 
 
Foreign exchange contracts:
 
$
(36.2
)
 
$
(11.7
)
 
Revenue
 
 
34.2

 
14.8

 
Costs of sales
 
 
(0.2
)
 
—

 
Selling, general and administrative expense
 
 
(2.2
)
 
3.1

 
Income before income taxes
 
 
3.0

 
2.1

 
Income tax (expense) benefit
 
 
$
0.8

 
$
5.2

 
Net income
Defined pension and other post-retirement benefits
 
 
 
 
 
 
Settlements
 
$
(24.9
)
 
$
(5.1
)
 
(a) 
Amortization of actuarial loss
 
(18.6
)
 
(31.7
)
 
(a) 
Amortization of prior service credit
 
(0.3
)
 
0.5

 
(a) 
Amortization of transition asset
 
0.1

 
0.1

 
(a) 
 
 
(43.7
)
 
(36.2
)
 
Income before income taxes
 
 
15.5

 
15.2

 
Income tax (expense) benefit
 
 
$
(28.2
)
 
$
(21.0
)
 
Net income
_______________________
(a) 
These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 12 for additional details).