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EQUITY
 3 Months Ended
Mar. 31, 2014
Equity [Abstract]  
EQUITY
                              EQUITY
 
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, 2014
 
206.8

 
4.8

 
$
351.9

Stock-based compensation
 
0.5

 
0.1

 
7.7

Treasury stock purchases
 
—

 
0.3

 
22.5

Balance as of March 31, 2014
 
207.3

 
5.2

 
$
382.1

 
 
 
 
 
 
 
Balance as of January 1, 2013
 
206.0

 
3.5

 
$
244.6

Stock-based compensation
 
0.4

 
0.1

 
9.1

Treasury stock purchases
 
—

 
0.3

 
23.0

Balance as of March 31, 2013
 
206.4

 
3.9

 
$
276.7


 
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 September 10, 2013, MJN’s board of directors approved a share repurchase authorization of up to $500.0 million of the Company’s common stock. As of March 31, 2014, the Company had $467.8 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-employment Benefits
 
Total
 
Noncontrolling Interest
 
Redeemable Noncontrolling Interest
 
Balance as of January 1, 2014
 
$
(83.6
)
 
$
15.4

 
$
(1.0
)
 
$
(69.2
)
 
$
1.9

 
$
(14.4
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Deferred Losses
 
(27.2
)
 
(41.8
)
 
—

 
(69.0
)
 
(0.4
)
(1
)
(5.7
)
(1
)
  Reclassification Adjustment for (Gains)/Losses Included in Net Earnings
 
—

 
(1.4
)
 
0.1

 
(1.3
)
 
—

 
—

 
  Tax Benefit
 
2.3

 
15.8

 
—

 
18.1

 
0.1

 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance as of March 31, 2014
 
$
(108.5
)
 
$
(12.0
)
 
$
(0.9
)
 
$
(121.4
)
 
$
1.6

 
$
(20.1
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance as of January 1, 2013
 
$
(14.6
)
 
$
(4.1
)
 
$
0.3

 
$
(18.4
)
 
$
(0.2
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Deferred Gains/(Losses)
 
(30.6
)
 
(4.4
)
 
—

 
(35.0
)
 
2.9

(1
)
(7.0
)
 
  Reclassification Adjustment for Losses Included in Net Earnings
 
—

 
3.0

 
—

 
3.0

 
—

 
—

 
  Tax Benefit/(Expense)
 
4.3

 
0.5

 
—

 
4.8

 
(1.1
)
 
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance as of March 31, 2013
 
$
(40.9
)
 
$
(5.0
)
 
$
0.3

 
$
(45.6
)
 
$
1.6

 
$
(7.0
)
 

(1) Represents foreign currency translation adjustments.
Reclassification adjustments out of accumulated other comprehensive loss were as follows:
 
 
Three Months Ended March 31, 2014
 
 
Affected Statement of Earnings Lines
 
 
 
(In millions)
 
Cost of Products Sold
 
Tax Benefit/(Expense)
 
Net
Deferred Gains/(Losses) on Derivatives Qualifying as Hedges:
 
 
 
 
 
 
  Forward Exchange Contracts
 
$
1.4

 
$
(0.4
)
 
$
1.0

 
 
 
 
 
 
 
Pension and Other Post-employment Benefit Plans:
 
 
 
 
 
 
  Prior Service Benefits
 
(0.1
)
 
—

 
(0.1
)
Total Reclassifications
 
$
1.3

 
$
(0.4
)
 
$
0.9

 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2013
 
 
Affected Statement of Earnings Lines
 
 
 
(In millions)
 
Cost of Products Sold
 
Tax Benefit/(Expense)
 
Net
Deferred Gains/(Losses) on Derivatives Qualifying as Hedges:
 
 
 
 
 
 
  Forward Exchange Contracts
 
$
(3.0
)
 
$
0.9

 
$
(2.1
)
 
 
 
 
 
 
 
Total Reclassifications
 
$
(3.0
)
 
$
0.9

 
$
(2.1
)