EQUITY

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

STOCK

Changes in common shares and treasury stock were as follows: 

(In millions)	Common Shares Issued	Treasury Stock	Cost of Treasury Stock
Balance as of January 1, 2013	206.0	3.5	$	244.6
Stock-based compensation	0.7	0.2	17.9
Treasury stock purchases	—	1.0	76.6
Balance as of September 30, 2013	206.7	4.7	$	339.1
Balance as of January 1, 2012	205.1	1.4	$	89.7
Stock-based compensation	0.9	0.2	15.0
Treasury stock purchases	—	1.2	93.3
Balance as of September 30, 2012	206.0	2.8	$	198.0

The Company may use either authorized and unissued shares or treasury shares to meet share requirements resulting from the exercise of stock options and vesting of performance share awards and restricted stock units. Treasury stock is recognized at the cost to reacquire the shares. Shares issued from treasury are recognized using the first-in first-out method.

On March 16, 2010, MJN’s board of directors approved the repurchase of up to $300.0 million of the Company’s common stock. From the date of such authorization through September 30, 2013, 4.2 million shares were repurchased at an average cost per share of $71.12. As of September 30, 2013, the Company had $2.1 million available under this authorization.

On September 10, 2013, MJN’s board of directors approved a new share repurchase authorization of up to an additional $500.0 million of the Company’s common stock. As of September 30, 2013, the Company had $500.0 million available under this authorization.

Changes in accumulated other comprehensive loss by component were as follows:

(In millions)	Foreign Currency Translation Adjustments			Deferred Gains/(Losses) on Derivatives Qualifying as Hedges			Pension and Other Post-retirement Benefits			Total			Noncontrolling Interest				Redeemable Noncontrolling Interest
Balance as of January 1, 2013	$	(14.6	)	$	(4.1	)	$	(168.3	)	$	(187.0	)	$	(0.2	)		$	—
Deferred Gains/(Losses)	(58.8		)	5.2			0.8			(52.8		)	3.1			1	(11.1		)	1
Reclassification Adjustment for   (Gains)/Losses Included in Net   Earnings	—			5.7			23.9			29.6			—				—
Tax Benefit/(Expense)	5.1			(3.0		)	(6.6		)	(4.5		)	(1.1		)		—
Balance as of September 30, 2013	$	(68.3	)	$	3.8		$	(150.2	)	$	(214.7	)	$	1.8			$	(11.1	)

1 Represents foreign currency translation adjustments.

Reclassification adjustments out of accumulated other comprehensive loss were as follows:

	Three Months Ended September 30,
	Affected Statement of Earnings Lines
(In millions)	Cost of Products Sold			Selling, General and Administrative			Research and Development			Other Expenses/ (Income) - Net			Tax Benefit/(Expense)			Net
Deferred Gains/(Losses) on Derivatives Qualifying as Hedges:
Forward Exchange Contracts	$	0.5		$	—		$	—		$	—		$	(0.1	)	$	0.4
Pension and Other Postretirement Benefit Plans:
Actuarial Gains/(Losses)	(0.7		)	(1.3		)	(0.1		)				0.6			(1.5		)
Prior Service Benefits				0.1						—			—			0.1
Settlements	—			—			—			(2.5		)	1.0			(1.5		)
Total Reclassifications	$	(0.2	)	$	(1.2	)	$	(0.1	)	$	(2.5	)	$	1.5		$	(2.5	)
	Nine Months Ended September 30, 2013
	Affected Statement of Earnings Lines
(In millions)	Cost of Products Sold			Selling, General and Administrative			Research and Development			Other Expenses/ (Income) - Net			Tax Benefit/(Expense)			Net
Deferred Gains/(Losses) on Derivatives Qualifying as Hedges:
Forward Exchange Contracts	$	(5.7	)	$	—		$	—		$	—		$	1.7		$	(4.0	)
Pension and Other Postretirement Benefit Plans:
Actuarial Gains/(Losses)	(2.1		)	(3.6		)	(0.6		)	—			2.0			(4.3		)
Prior Service Benefits				0.1												0.1
Settlements	—			—			—			(17.7		)	6.6			(11.1		)
Total Reclassifications	$	(7.8	)	$	(3.5	)	$	(0.6	)	$	(17.7	)	$	10.3		$	(19.3	)