Shareholders' Equity

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

The components of accumulated other comprehensive loss, net of tax, were as follows:

	June 30,			December 31,
	2016			2015
Foreign currency translation	$	(187.3	)	$	(209.2	)
Translation (loss) gain on net investment hedge, net of income taxes of $(2.8) and $2.8, respectively	(0.2		)	10.0
Translation loss on long-term intercompany loans	(118.6		)	(75.5		)
Unrealized gain on investments, net of income taxes of $3.9 and $3.8, respectively	17.5			17.0
Defined benefit pension plans, net of income taxes of $(22.5) and $(22.3), respectively	(32.8		)	(32.6		)
Retiree health care plan, net of income taxes of $2.3 and $2.4, respectively	4.1			4.3
Accumulated other comprehensive loss	$	(317.3	)	$	(286.0	)

Noncontrolling Interests

Noncontrolling interests, included in total shareholders' equity in our Consolidated Balance Sheets, represent amounts related to majority-owned subsidiaries for which we have a controlling financial interest.

Net earnings attributable to these noncontrolling interests were $2.1 and $3.7 for the three and six months ended June 30, 2016, respectively, which were recorded as expenses in interest and other expenses in our Consolidated Statements of Operations.

Dividends

On May 3, 2016 and April 28, 2015, the Board of Directors declared a semi-annual cash dividend of $0.86 and $0.80 per share, respectively. The 2016 dividends were paid on June 15, 2016 to shareholders of record on June 1, 2016. The 2015 dividends were paid on June 15, 2015 to shareholders of record on June 1, 2015.

Share Repurchases    

In July 2016, the Board of Directors authorized the repurchase of an additional 6.0 million shares of our common stock, with terms consistent with the previous authorization. This authorization was in addition to the October 2015 authorization to repurchase 6.0 million shares of our common stock and the December 2012 authorization to repurchase 8.0 million shares of our common stock. Share repurchases may be made from time to time through a variety of methods, including open market purchases, block transactions, privately negotiated transactions or similar facilities. During the six months of 2016, we repurchased 3.8 million shares at a cost of $290.5 under the 2015 authorization. During the six months of 2015, we repurchased 2.0 million shares at a cost of $168.7 under the 2012 authorization. As of June 30, 2016, there were 1.5 million shares remaining authorized for repurchase under the 2015 authorization and no shares remaining under the 2012 authorization.