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Shareholders' Equity
3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Shareholders' Equity

(11) Shareholders’ Equity

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

 

 

 

March 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Foreign currency translation

 

$

(345.4

)

 

$

(260.5

)

Translation gain on derivative instruments, net of income taxes of $(3.7) and $(9.1), respectively

 

 

23.8

 

 

 

13.1

 

Translation loss on long-term intercompany loans

 

 

(120.0

)

 

 

(121.5

)

Defined benefit pension plans, net of income taxes of $(35.4) and $(30.9), respectively

 

 

(66.1

)

 

 

(74.1

)

Retiree health care plan, net of income taxes of $2.3 and $1.6, respectively

 

 

1.9

 

 

 

2.0

 

Accumulated other comprehensive loss

 

$

(505.8

)

 

$

(441.0

)

 

Noncontrolling Interests

Noncontrolling interests, reported 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 $0.6 and $1.0 for the three months ended March 31, 2020 and 2019, respectively.

Share Repurchases

In August 2019, the Board of Directors authorized the repurchase of 6.0 million shares of our common stock, with terms consistent with the previous authorizations. This authorization is in addition to the August 2018 Board authorizations to purchase 6.0 million shares of our common stock each. 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 2020, we repurchased a total of 0.9 million shares comprised of 0.8 million shares under the 2018 authorization and 0.1 million shares under the 2019 authorization, at a total cost of $63.8. 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. As of March 31, 2020, there were 5.9 million shares remaining authorized for repurchase under the 2019 authorization and no shares remaining authorized for repurchase under the 2018 authorization.