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Equity (Tables)
 6 Months Ended
Jun. 30, 2015
Equity [Abstract]  
Schedule of stock repurchases
Share repurchases for the periods ended June 30 were as follows: 
(in millions, except average price)
Three Months
 
Six Months
 
2015
 
2014
 
2015
 
2014
Total number of shares purchased 1
1.6

 
2.2

 
2.6

 
4.4

Average price paid per share 1
$
104.82

 
$
79.65

 
$
104.62

 
$
79.06

Total cash utilized 2
$
164

 
$
177

 
$
274

 
$
352


1
On June 25, 2014, we repurchased 0.5 million shares of the Company's common stock from the personal holdings of Harold W. McGraw III, then Chairman of the Company's Board of Directors and former President and CEO of the Company, at a discount of 0.35% from the June 24, 2014 New York Stock Exchange closing price. We repurchased these shares with cash for $41 million at an average price of $82.66 per share. See Note 13 — Related Party Transactions for further information.
2 
In December of 2013, 0.1 million shares were repurchased for approximately $10 million, which settled in January of 2014. Cash used for financing activities only reflects those shares which settled during the six months ended June 30, 2014 resulting in $362 million of cash used to repurchase shares.
Schedule of redeemable noncontrolling interest
Changes to redeemable noncontrolling interest during the six months ended June 30, 2015 were as follows:
(in millions)
 
Balance as of December 31, 2014
$
810

Net income attributable to noncontrolling interest
50

Distributions payable to noncontrolling interest
(34
)
Redemption value adjustment
(16
)
Balance as of June 30, 2015
$
810
Schedule of changes in the components of accumulated other comprehensive loss
The following table summarizes the changes in the components of accumulated other comprehensive loss for the six months ended June 30, 2015:
(in millions)
Foreign Currency Translation Adjustment
 
Pension and Postretirement Benefit Plans
 
Unrealized Gain (Loss) on Forward Exchange Contracts
 
Accumulated Other Comprehensive Loss
Balance as of December 31, 2014
$
(83
)
 
$
(431
)
 
$
—

 
$
(514
)
Other comprehensive income before reclassifications
(34
)
 
31

 
—

 
(3
)
Reclassifications from accumulated other comprehensive loss to net earnings
—

 
6

1 

—

 
6

Net other comprehensive income
(34
)
 
37

 
—

 
3

Balance as of June 30, 2015
$
(117
)
 
$
(394
)
 
$
—

 
$
(511
)

1 
See Note 5 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings.