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	0.8	0.1	7.9
Treasury stock purchases	—	0.6	48.5
Balance as of September 30, 2014	207.6	5.5	$	408.3

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

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 September 30, 2014, the Company had $441.9 million remaining 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	(49.7		)	(64.3		)	—			(114.0		)	—			(1	)	(6.8		)	(1	)
Reclassification Adjustment for (Gains)/Losses Included in Net Earnings	—			(2.8		)	0.2			(2.6		)	—					—
Tax Benefit	0.3			24.5			—			24.8			—					—

Balance as of September 30, 2014	$	(133.0	)	$	(27.2	)	$	(0.8	)	$	(161.0	)	$	1.9				$	(21.2	)

Balance as of January 1, 2013	$	(14.6	)	$	(4.1	)	$	0.3		$	(18.4	)	$	(0.2	)			$	—

Deferred Gains/(Losses)	(58.8		)	5.2			—			(53.6		)	3.1			(1	)	(11.1		)	(1	)
Reclassification Adjustment for Losses Included in Net Earnings	—			5.7			—			5.7			—					—
Tax Benefit/(Expense)	5.1			(3.0		)	—			2.1			(1.1		)			—

Balance as of September 30, 2013	$	(68.3	)	$	3.8		$	0.3		$	(64.2	)	$	1.8				$	(11.1	)

⁽¹⁾ Represents foreign currency translation adjustments.

Deferred losses on derivatives qualifying as hedges for the nine months ended September 30, 2014 included $64.4 million related to the change in the underlying position of the Company’s interest rate forward swaps intended to mitigate interest rate exposure associated with the 2044 Notes. These interest rate forward swaps were in a gain position with a fair value of $19.4 million at December 31, 2013. From December 31, 2013 through the Company’s settlement in May 2014, the fair value of these interest rate forward swaps declined $64.4 million, resulting in a loss position with a fair value of $45.0 million upon settlement.

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						Tax Benefit/(Expense)						Net
	2014			2013			2014			2013			2014			2013
Deferred Gains/(Losses) on Derivatives Qualifying as Hedges:
Foreign Exchange Contracts	$	—		$	0.5		$	0.1		$	(0.1	)	$	0.1		$	0.4
Interest Rate Forward Swap	(0.5		)	—			—			—			(0.5		)	—

Pension and Other Post-employment Benefit Plans:
Prior Service Benefits	—			—			—			—			—			—
Total Reclassifications	$	(0.5	)	$	0.5		$	0.1		$	(0.1	)	$	(0.4	)	$	0.4

	Nine Months Ended September 30,
	Affected Statement of Earnings Lines
(In millions)	Cost of Products Sold						Tax Benefit/(Expense)						Net
	2014			2013			2014			2013			2014			2013
Deferred Gains/(Losses) on Derivatives Qualifying as Hedges:
Foreign Exchange Contracts	$	3.3		$	(5.7	)	$	(0.9	)	$	1.7		$	2.4		$	(4.0	)
Interest Rate Forward Swap	(0.5		)	—			—			—			(0.5		)	—

Pension and Other Post-employment Benefit Plans:
Prior Service Benefits	(0.2		)	—			—			—			(0.2		)	—
Total Reclassifications	$	2.6		$	(5.7	)	$	(0.9	)	$	1.7		$	1.7		$	(4.0	)