Equity

Summarized below is the roll forward of accumulated other comprehensive income (loss), net of tax.



In millions	Foreign currency adjustments			Derivative Instruments			Pension and other postretirement benefits			Total
Accumulated other comprehensive income (loss), net of tax at December 31, 2014	$	(6.3	)	$	(1.0	)	$	—		$	(7.3	)
2015 Activity
Other comprehensive income (loss) before reclassifications	(9.2		)	(1.9		)	—			(11.1		)
Amounts reclassified from accumulated other comprehensive income (loss)⁽¹⁾	—			1.9			—			1.9
Accumulated other comprehensive income (loss), net of tax at December 31, 2015	$	(15.5	)	$	(1.0	)	$	—		$	(16.5	)
2016 Activity
Other comprehensive income (loss) before reclassifications	(2.9		)	—			(0.6		)	(3.5		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			1.0			—			1.0
Accumulated other comprehensive income (loss), net of tax at December 31, 2016	$	(18.4	)	$	—		$	(0.6	)	$	(19.0	)
2017 Activity
Other comprehensive income (loss) before reclassifications	8.3			(0.1		)	(0.7		)	7.5
Amounts reclassified from accumulated other comprehensive income (loss)⁽²⁾	—			0.1			—			0.1
Reclassification of certain deferred tax effects ⁽³⁾	—			—			(0.3		)	(0.3		)
Accumulated other comprehensive income (loss), net of tax at December 31, 2017	$	(10.1	)	$	—		$	(1.6	)	$	(11.7	)

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(1)	Amounted are recorded to "Cost of sales" on the consolidated statements of operations.


(2)	Amounted related to derivative instruments entered to hedge foreign currency exchange risks on revenue transactions and therefore were reclassified to "Net sales". Amount were reclassified when the hedged items are recognized in the consolidated statements of operations.


(3)	Amounts reclassified to retained earnings due to early adoption of ASU 2018-02. For further information, refer to Note 4.

Share Repurchases

On February 20, 2017, the Board of Directors authorized the repurchase of up to $100 million of our common stock. The repurchase program does not include a specific timetable or price targets and may be suspended or terminated at any time. Shares may be purchased through open market or privately negotiated transactions at the discretion of management based on its evaluation of market prevailing conditions and other factors.

During the year ended December 31, 2017, we repurchased 99,000 shares of our common stock at a weighted average cost per share of $66.28. At December 31, 2017, $93.4 million remained unused under our Board-authorized repurchase program. We record shares of common stock repurchased at cost as treasury stock, resulting in a reduction of stockholders’ equity in the consolidated balance sheets. When the treasury shares are contributed under our employee benefit plans or issued for option exercises, we use a first-in, first-out (“FIFO”) method for determining cost. The difference between the cost of the shares and the market price at the time of contribution to an employee benefit plan is added to or deducted from the related capital in excess of par value of common stock.