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EQUITY
 3 Months Ended
Mar. 31, 2017
Equity [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
                              EQUITY
 
Changes in common shares and treasury stock were as follows: 
(Dollars and shares in millions)
 
Common Shares
Issued
 
Treasury Stock
 
Cost of Treasury
Stock
Balance as of January 1, 2017
 
188.3

 
4.9

 
$
362.6

Stock-based Compensation
 
0.3

 
—

 
—

Balance as of March 31, 2017
 
188.6

 
4.9

 
$
362.6

 
 
 
 
 
 
 
Balance as of January 1, 2016
 
191.4

 
4.9

 
$
362.6

Stock-based Compensation
 
0.2

 
—

 
—

Balance as of March 31, 2016
 
191.6

 
4.9

 
$
362.6


 
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.

Share Repurchase Authorizations

In September 2013, the Company’s board of directors approved a share repurchase authorization of up to $500.0 million of the Company’s common stock (the “2013 Authorization”). The 2013 Authorization did not have an expiration date. During the first quarter of 2016, the Company did not repurchase any shares pursuant to the 2013 Authorization. As of March 31, 2016, the Company had $0.4 million remaining available under the 2013 Authorization. In the third quarter of 2016, the Company repurchased $0.4 million of its common stock which completed all purchases remaining under the 2013 Authorization.

In October 2015, the Company’s board of directors approved a share repurchase authorization of an additional $1,500.0 million of the Company’s common stock (the “2015 Authorization”). The 2015 Authorization does not have an expiration date. During the first quarters of 2017 and 2016, the Company did not repurchase any shares pursuant to the 2015 Authorization. As of March 31, 2017, the Company had $400.0 million remaining available under the 2015 Authorization.

Under the Merger Agreement (as defined in “—Note 19. Mergers and Acquisitions”), the Company is prohibited from redeeming, repurchasing or otherwise acquiring or offering to redeem, repurchase, or otherwise acquire its common stock or other securities, other than shares surrendered to the Company to pay the exercise price in connection with the exercise of employee stock options and shares surrendered to the Company to satisfy tax withholding obligations in connection with the exercise of employee stock options or the vesting of restricted stock units and performance share awards.

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss by component were as follows:
(Dollars in millions)
 
Foreign Currency Translation Adjustments
 
Deferred Gains/(Losses) on Derivatives Qualifying as Hedges
 
Pension and Other Post-employment Benefits
 
Total
 
Noncontrolling Interest
 
Balance as of January 1, 2017
 
$
(395.0
)
 
$
(15.6
)
 
$
(0.8
)
 
$
(411.4
)
 
$
(13.2
)
 
  Deferred Gains/(Losses)
 
33.3

 
(4.4
)
 
—

 
28.9

 
—

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

 
(2.4
)
 
—

 
(2.4
)
 
—

 
  Tax Benefit/(Expense)
 
(0.5
)
 
2.1

 
—

 
1.6

 
—

 
Balance as of March 31, 2017
 
$
(362.2
)
 
$
(20.3
)
 
$
(0.8
)
 
$
(383.3
)
 
$
(13.2
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance as of January 1, 2016
 
$
(329.8
)
 
$
(17.2
)
 
$
(0.8
)
 
$
(347.8
)
 
$
(12.7
)
 
  Deferred Gains/(Losses)
 
6.7

 
(11.6
)
 
—

 
(4.9
)
 
(0.8
)
(1)
Reclassification Adjustment for (Gains)/Losses Included in Net Earnings
 
—

 
(5.5
)
 
—

 
(5.5
)
 
—

 
  Tax Benefit/(Expense)
 
0.2

 
3.8

 
—

 
4.0

 
—

 
Balance as of March 31, 2016
 
$
(322.9
)
 
$
(30.5
)
 
$
(0.8
)
 
$
(354.2
)
 
$
(13.5
)
 

(1) Represents foreign currency translation adjustments.

Reclassification adjustments out of accumulated other comprehensive loss were as follows:
 
Three Months Ended March 31,
 
Affected Statement of Earnings Lines
 
 
 
 
(Dollars in millions)
Cost of Products Sold
 
Tax Benefit/(Expense)
 
Net
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Deferred Gains/(Losses) on Derivatives Qualifying as Hedges:
 
 
 
 
 
 
 
 
 
 
 
  Forward Exchange Contracts
$
3.0

 
$
6.3

 
$
(0.1
)
 
$
(0.6
)
 
$
2.9

 
$
5.7

  Commodity Contracts
(0.2
)
 
(0.4
)
 
0.1

 
0.2

 
(0.1
)
 
(0.2
)
  Interest Rate Forward Swap
(0.4
)
 
(0.4
)
 
0.1

 
0.1

 
(0.3
)
 
(0.3
)
Total Reclassifications
$
2.4

 
$
5.5

 
$
0.1

 
$
(0.3
)
 
$
2.5

 
$
5.2