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Stockholders' Equity
 9 Months Ended
Sep. 30, 2016
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
STOCKHOLDERS’ EQUITY
The following table summarizes activity within certain components of stockholders’ equity during the nine months ended September 30, 2016:
(In millions)
Common Stock 
Held in Treasury 
and Employee
Benefit Trust
 
Capital in
Excess of Par
Value of
Common Stock
 
Accumulated
Other
Comprehensive
Income (Loss)
Balance as of December 31, 2015
$
(1,614.8
)
 
$
759.0

 
$
(872.7
)
Other comprehensive income (loss)
—

 
—

 
127.5

Excess tax benefits on stock-based payment arrangements
—

 
0.2

 
—

Taxes withheld on issuance of stock-based awards
—

 
(8.6
)
 
—

Purchases of treasury stock
(50.6
)
 
—

 
—

Reissuances of treasury stock
21.7

 
(21.7
)
 
—

Net purchases of common stock for employee benefit trust
0.2

 
(0.8
)
 
—

Stock-based compensation (Note 15)
—

 
36.0

 
—

Balance as of September 30, 2016
$
(1,643.5
)
 
$
764.1

 
$
(745.2
)

There were no cash dividends declared during the three and nine months ended September 30, 2016 and 2015.

The following is a summary of our treasury stock activity for the nine months ended September 30, 2016 and 2015:
(Number of shares in thousands)
Treasury Stock
Balance as of December 31, 2014
54,626

Stock awards
(523
)
Treasury stock purchases
3,934

Balance as of September 30, 2015
58,037

 
 
Balance as of December 31, 2015
59,356

Stock awards
(803
)
Treasury stock purchases
1,889

Balance as of September 30, 2016
60,442


We repurchased $50.6 million and $149.3 million of common stock during the nine months ended September 30, 2016 and September 30, 2015, respectively, under our authorized share repurchase program. As of September 30, 2016, our Board of Directors had authorized 90.0 million shares of common stock under our share repurchase program, and approximately 15.9 million shares of common stock remained available for purchase. Pursuant to the business combination agreement executed by FMC Technologies and Technip, repurchases of common stock during the period prior to the closing of the merger are suspended. We intend to hold repurchased shares in treasury for general corporate purposes, including issuances under our stock-based compensation plan. Treasury shares are accounted for using the cost method.
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, 2015
$
(494.2
)
 
$
(87.1
)
 
$
(291.4
)
 
$
(872.7
)
Other comprehensive income (loss) before reclassifications, net of tax
54.6

 
16.8

 
—

 
71.4

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

 
41.7

 
14.4

 
56.1

Other comprehensive income (loss), net of tax
54.6

 
58.5

 
14.4

 
127.5

September 30, 2016
$
(439.6
)
 
$
(28.6
)
 
$
(277.0
)
 
$
(745.2
)
Reclassifications out of accumulated other comprehensive loss consisted of the following:
 
 
Three Months Ended
 
Nine Months Ended
 
 
(In millions)
 
September 30, 2016
 
September 30, 2015
 
September 30, 2016
 
September 30, 2015
 
 
Details about Accumulated Other Comprehensive Loss Components
 
Amount Reclassified out of Accumulated Other
Comprehensive Loss
 
Affected Line Item in the Condensed Consolidated Statement of Income
Gains (losses) on hedging instruments
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts:
 
$
(15.9
)
 
$
(29.9
)
 
$
(67.5
)
 
$
(91.6
)
 
Revenue
 
 
(1.1
)
 
17.8

 
14.1

 
36.8

 
Cost of sales
 
 
—

 
(0.4
)
 
—

 
(1.3
)
 
Selling, general and administrative expense
 
 
(0.4
)
 
0.1

 
(0.4
)
 
—

 
Research and development expense
 
 
—

 
(1.8
)
 
—

 
0.1

 
Net interest expense
 
 
(17.4
)
 
(14.2
)
 
(53.8
)
 
(56.0
)
 
Income from continuing operations before income taxes
 
 
4.1

 
2.7

 
12.1

 
11.4

 
Provision (benefit) for income taxes
 
 
$
(13.3
)
 
$
(11.5
)
 
$
(41.7
)
 
$
(44.6
)
 
Net income
Defined pension and other post-retirement benefits
 
 
 
 
 
 
 
 
 
 
Amortization of actuarial gain (loss)
 
$
(6.2
)
 
$
(7.7
)
 
$
(18.6
)
 
$
(23.3
)
 
(a) 
Amortization of prior service credit (cost)
 
(0.1
)
 
—

 
(0.5
)
 
(0.1
)
 
(a) 
Settlement cost
 
(1.8
)
 
(2.0
)
 
(1.8
)
 
(2.0
)
 
(a) 
 
 
(8.1
)
 
(9.7
)
 
(20.9
)
 
(25.4
)
 
Income from continuing operations before income taxes
 
 
2.6

 
3.2

 
6.5

 
8.2

 
Provision (benefit) for income taxes
 
 
$
(5.5
)
 
$
(6.5
)
 
$
(14.4
)
 
$
(17.2
)
 
Net income
_______________________
(a)
These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 14 for additional details).