Equity

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Equity

Equity

Accumulated other comprehensive income (loss)

Summarized below is the roll forward of AOCI, net of tax.

	Years Ended December 31,
In millions	2021		2020		2019
Foreign currency translation
Beginning Balance	$	16.4	$	1.5	$	(16.4)
Net gains (losses) on foreign currency translation	(5.3)		23.9		15.6
Gains (losses) on net investment hedges	9.6		(11.7)		3.0
Less: tax provision (benefit)	2.3		(2.7)		0.7
Net gains (losses) on net investment hedges	7.3		(9.0)		2.3
Other comprehensive income (loss), net of tax	2.0		14.9		17.9
Ending Balance	$	18.4	$	16.4	$	1.5
Derivative instruments
Beginning Balance	$	(6.9)	$	(3.5)	$	0.4
Gains (losses) on derivative instruments	7.2		(5.6)		(4.8)
Less: tax provision (benefit)	1.7		(1.3)		(1.1)
Net gains (losses) on derivative instruments	5.5		(4.3)		(3.7)
(Gains) losses reclassified to net income	(1.0)		1.2		(0.3)
Less: tax (provision) benefit	(0.3)		0.3		(0.1)
Net (gains) losses reclassified to net income	(0.7)		0.9		(0.2)
Other comprehensive income (loss), net of tax	4.8		(3.4)		(3.9)
Ending Balance	$	(2.1)	$	(6.9)	$	(3.5)
Pension and other postretirement benefits
Beginning Balance	$	(4.8)	$	(3.0)	$	(1.7)
Unrealized actuarial gains (losses) and prior service (costs) credits	1.9		(2.7)		(1.8)
Less: tax provision (benefit)	0.4		(0.6)		(0.4)
Net actuarial gains (losses) and prior service (costs) credits	1.5		(2.1)		(1.4)
Amortization of actuarial and other (gains) losses, prior service cost (credits), and settlement and curtailment (income) charge reclassified to net income	0.2		0.3		0.1
Less: tax (provision) benefit	0.1		—		—
Net actuarial and other (gains) losses, amortization of prior service cost (credits), and settlement and curtailment (income) charge reclassified to net income	0.1		0.3		0.1
Other comprehensive income (loss), net of tax	1.6		(1.8)		(1.3)
Ending Balance	$	(3.2)	$	(4.8)	$	(3.0)
Total AOCI ending balance at December 31	$	13.1	$	4.7	$	(5.0)

Reclassifications of accumulated other comprehensive income (loss)

The table below provides details about the reclassifications from AOCI and the affected line items in the consolidated statements of income (loss) for each of the periods presented.

	Years Ended December 31,
In millions	2021		2020		2019
Derivative Instruments
Currency exchange contracts (1)	$	0.3	$	(0.1)	$	—
Natural gas contracts (2)	0.7		(1.1)		0.3
Total before tax	1.0		(1.2)		0.3
(Provision) benefit for income taxes	(0.3)		0.3		(0.1)
Amount included in net income (loss)	$	0.7	$	(0.9)	$	0.2
Pension and other postretirement benefits
Amortization of prior service credit (costs) (2)	$	(0.1)	$	(0.1)	$	—
Amortization of unrecognized net actuarial and other gains (losses) (3)	(0.1)		(0.1)		(0.1)
Recognized gain (loss) due to curtailment and settlement (2)	—		(0.1)		—
Total before tax	(0.2)		(0.3)		(0.1)
(Provision) benefit for income taxes	0.1		—		—
Amount included in net income (loss)	$	(0.1)	$	(0.3)	$	(0.1)
_______________
(1) Included within "Net sales" on the consolidated statements of operations.
(2) Included within "Cost of sales" on the consolidated statements of operations.
(3) Included within "Other (income) expense, net" on the consolidated statements of operations.

Share repurchases

On February 28, 2020, our Board of Directors authorized the repurchase of up to $500.0 million of our common stock, and rescinded the prior two outstanding authorizations. 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, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.

During the year ended December 31, 2021, we repurchased $109.4 million in common stock, representing 1,421,379 shares of our common stock at a weighted average cost per share of $76.98. At December 31, 2021, $302.6 million remained unused under our Board-authorized repurchase program. During the year ended December 31, 2020 and December 31, 2019, we repurchased $88.0 million and $6.4 million in common stock, representing 1,533,442 and 80,300 shares of our common stock at a weighted average cost per share of $57.38 and $80.22, respectively.