Total Equity

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

Total Equity

Total Equity

Total equity is comprised of the following (in millions, except per share amounts):

	September 30, 2016			December 31, 2015
Common stock, $.01 par value:
Common Stock-- authorized 200.0 shares; issued and outstanding 55.4 and 57.8 shares	$	0.6		$	0.6
Additional paid-in capital	6.5			78.1
Retained earnings	1,853.7			1,886.1
Accumulated other comprehensive loss:
Pension and post retirement benefit plan adjustment, net of tax	(134.0		)	(140.2		)
Cumulative translation adjustment	(101.1		)	(85.4		)
Unrealized gain on investment, net of tax	0.3			—
Cash flow hedge (loss) gain, net of tax	(0.5		)	1.4
Total Accumulated other comprehensive loss	(235.3		)	(224.2		)
Hubbell shareholders’ equity	1,625.5			1,740.6
Noncontrolling interest	9.1			8.4
TOTAL EQUITY	$	1,634.6		$	1,749.0

For accounting purposes, the Company treats repurchased shares as constructively retired when acquired and accordingly charges the purchase price against Common Stock par value, Additional paid-in capital, to the extent available, and Retained earnings. As a result of this accounting treatment, during the first nine months of 2016, $155.5 million of purchase price of repurchased shares was allocated to retained earnings.

A summary of the changes in equity for the nine months ended September 30, 2016 and 2015 is provided below (in millions):

	Nine Months Ended September 30,
	2016									2015
	Hubbell Shareholders’ Equity			Noncontrolling interest			Total Equity			Hubbell Shareholders’ Equity			Noncontrolling interest			Total Equity
EQUITY, JANUARY 1	$	1,740.6		$	8.4		$	1,749.0		$	1,927.1		$	8.6		$	1,935.7
Total comprehensive income	217.5			3.5			221.0			181.5			3.6			185.1
Stock-based compensation	13.1			—			13.1			10.2			—			10.2
Income tax windfall from stock-based awards, net	2.2			—			2.2			1.9			—			1.9
Repurchase/surrender of shares of common stock	(242.9		)	—			(242.9		)	(79.8		)	—			(79.8		)
Issuance of shares related to directors’ deferred compensation, net	0.4			—			0.4			0.2			—			0.2
Dividends to noncontrolling interest	—			(2.8		)	(2.8		)	—			(2.5		)	(2.5		)
Cash dividends declared	(105.4		)	—			(105.4		)	(97.2		)	—			(97.2		)
EQUITY, SEPTEMBER 30	$	1,625.5		$	9.1		$	1,634.6		$	1,943.9		$	9.7		$	1,953.6

The detailed components of total comprehensive income are presented in the Condensed Consolidated Statement of Comprehensive Income.