Equity (Tables)

3 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

Schedule of share repurchase activity

The Company’s share repurchase activity is presented in the table below for the periods indicated.

	Three Months Ended
	March 31,
	2020		2019
Number of shares repurchased (1)	417,707		212,424
Cash paid for repurchased shares (in thousands) (2)	$	73,164	$	44,839

(1) The average purchase price for repurchased shares was $151.22 and $140.46 for the three months ended March 31, 2020 and 2019, respectively. The repurchased shares during the three months ended March 31, 2020 included purchases for both stock-based compensation awards and open market purchases. All of the shares repurchased during the three months ended March 31, 2019 related to the settlement of the Company's stock-based compensation awards.

(2) The cash paid for repurchased shares during the three months ended March 31, 2020 included open market purchases with trade dates in December 2019 that settled in January 2020.

Schedule of the changes in Accumulated Other Comprehensive (Loss) Income by component (net of tax)

The tables below provide information about the changes in AOCI/L by component and the related amounts reclassified out of AOCI/L to income during the periods indicated (net of tax, in thousands) (1).

Three Months Ended March 31, 2020

	Interest Rate Swaps		Defined Benefit Pension Plans		Foreign Currency Translation Adjustments		Total
Balance – December 31, 2019	$	(47,164)	$	(8,584)	$	(22,190)	$	(77,938)
Other comprehensive income (loss) activity during the period:
Change in AOCI/L before reclassifications to income	(47,054)		—		(46,381)		(93,435)
Reclassifications from AOCI/L to income (2), (3)	2,322		79		—		2,401
Other comprehensive income (loss) for the period	(44,732)		79		(46,381)		(91,034)
Balance – March 31, 2020	$	(91,896)	$	(8,505)	$	(68,571)	$	(168,972)

Three Months Ended March 31, 2019

	Interest Rate Swaps		Defined Benefit Pension Plans		Foreign Currency Translation Adjustments		Total
Balance – December 31, 2018	$	(7,770)	$	(5,738)	$	(26,359)	$	(39,867)
Other comprehensive income (loss) activity during the period:
Change in AOCI/L before reclassifications to income	(12,853)		—		(7,236)		(20,089)
Reclassifications from AOCI/L to income (2), (3)	(1,652)		42		—		(1,610)
Other comprehensive income (loss) for the period	(14,505)		42		(7,236)		(21,699)
Balance – March 31, 2019	$	(22,275)	$	(5,696)	$	(33,595)	$	(61,566)

(1)Amounts in parentheses represent debits (deferred losses).

(2)The reclassifications related to interest rate swaps (cash flow hedges) were recorded in Interest expense, net. See Note 7 — Debt and Note 10 — Derivatives and Hedging for information regarding the cash flow hedges.

(3)The reclassifications related to defined benefit pension plans were recorded in Other expense, net. See Note 12 – Employee Benefits for information regarding the Company’s defined benefit pension plans.