XML 32 R19.htm IDEA: XBRL DOCUMENT v3.19.1
Shareholders' Equity
 3 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Shareholders' Equity
Shareholders’ Equity

The components of accumulated other comprehensive loss, net of tax, were as follows:
 
March 31,
 
December 31,
 
2019
 
2018
Foreign currency translation
$
(253.8
)
 
$
(223.2
)
Translation gain (loss) on net investment hedge, net of income taxes of $(7.8) and $(12.9), respectively
12.7

 
(4.7
)
Translation loss on long-term intercompany loans
(126.2
)
 
(137.2
)
Defined benefit pension plans, net of income taxes of $(23.1) and $(23.2), respectively
(37.6
)
 
(37.9
)
Retiree health care plan, net of income taxes of $2.0 for both 2019 and 2018
3.1

 
3.2

 Accumulated other comprehensive loss
$
(401.8
)
 
$
(399.8
)


Noncontrolling Interests

Noncontrolling interests, included in total shareholders' equity in our Consolidated Balance Sheets, represent amounts related to majority-owned subsidiaries in which we have a controlling financial interest. Net earnings attributable to these noncontrolling interests are recorded in interest and other expenses in our Consolidated Statements of Operations. We recorded expenses of $1.0 and $1.2 for the three months ended March 31, 2019 and 2018, respectively.

Share Repurchases    

In August 2018, the Board of Directors authorized the repurchase of 6.0 million shares of our common stock. This authorization is in addition to the July 2016 Board authorization to repurchase 6.0 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 first quarter of 2019, we repurchased a total of 1.2 million shares at a cost of $101.0 under the 2018 authorization. During the first quarter of 2018, we repurchased 0.4 million shares at a cost of $50.1 under the 2016 authorization. As of March 31, 2019, there were 1.9 million shares remaining authorized for repurchase under the 2018 authorization and no shares remaining authorized for repurchase under the 2016 authorization.