Equity

Earnings per Share Calculation

Basic net income per share is computed using the weighted-average number of outstanding shares of common stock during the measurement period. Diluted net income per share is computed using the weighted-average number of outstanding shares of common stock and, when dilutive, potential outstanding shares of common stock during the measurement period.

Subject to preferences that may apply to shares of preferred stock outstanding at the time, holders of the Company’s outstanding common stock are entitled to any dividend declared by the Board of Directors out of funds legally available for this purpose. The Company did not pay any cash dividends in the three months ended March 31, 2016. The Company's future dividend policy will depend on the requirements of financing agreements to which the Company may be a party. Any future determination to pay dividends will be at the discretion of the Company's Board of Directors and will depend upon, among other factors, the Company's results of operations, financial condition, capital requirements and contractual restrictions. The Company accounts for treasury stock under the cost method and includes treasury stock as a component of stockholders’ equity. As of March 31, 2016, no treasury shares have been reissued or retired.

The following table sets forth the computation of basic and diluted earnings per share:



	For the Three Months Ended
	March 31, 2016					April 2, 2015
	Income		Shares	Per Share Amount		Income		Shares	Per Share Amount
Basic EPS
Income available to common shareholders	$	171.5	131.6	$	1.30	$	181.7	138.9	$	1.31
Income allocated to participating securities	0.1		0.1			0.2		0.1
Net income	$	171.6				$	181.9

Diluted potential common shares			1.0					1.4
Diluted EPS
Net income	$	171.6	132.7	$	1.29	$	181.9	140.4	$	1.30

The balance of outstanding common shares presented in the Condensed Consolidated Balance Sheets was 132.5 million and 141.7 million at March 31, 2016 and April 2, 2015, respectively. Included in the outstanding common shares were 2.2 million and 2.8 million of issued but unvested shares at March 31, 2016 and April 2, 2015, respectively, which are excluded from the basic EPS calculation.

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss is summarized by component as follows:



	As of			As of
	March 31, 2016			December 31, 2015
Pension	$	(121.0	)	$	(121.5	)
Interest rate swaps	—			(0.4		)
SERP/Retiree medical	6.0			6.1
Foreign currency impact on long term intercompany loan	(10.3		)	(9.2		)
Currency translation adjustment	(43.2		)	(35.5		)
Total accumulated other comprehensive loss	$	(168.5	)	$	(160.5	)