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PREFERRED STOCK AND COMMON SHAREHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2013
Stockholders' Equity Note [Abstract]  
Preferred Stock and Common Shareholders' Equity
. PREFERRED STOCK AND COMMON SHAREHOLDERS’ EQUITY

The Company is authorized to issue up to 265.0 shares of common stock, par value $0.10 per share. The Company’s treasury shares are recorded at aggregate cost. The Company is authorized to issue up to 30.0 shares of preferred stock, par value $0.10 per share. There were no preferred shares outstanding as of June 30, 2013.
 
The changes in common shares issued and held in treasury are summarized below:

 
Issued
 
Held in
Treasury
 
Outstanding
Common shares at December 31, 2012
115.8

 
(22.3
)
 
93.5

Common stock issued under employee stock plans
2.0

 
—

 
2.0

Common stock issued upon conversion of zero-coupon subordinated notes
0.1

 
—

 
0.1

Surrender of restricted stock and performance share awards
—

 
(0.1
)
 
(0.1
)
Retirement of common stock
(5.0
)
 
—

 
(5.0
)
Common shares at June 30, 2013
112.9

 
(22.4
)
 
90.5


 

Share Repurchase Program

As of December 31, 2012, the Company had outstanding authorization from the Board of Directors to purchase approximately $74.0 of Company common stock based on settled trades as of that date. On February 8, 2013, the Company announced the Board of Directors authorized the purchase of $1,000.0 of additional shares of the Company’s common stock. During the six months ended June 30, 2013, the Company purchased 5.0 shares of its common stock at a total cost of $479.2. As of June 30, 2013, the Company had outstanding authorization from the Board of Directors to purchase $594.8 of Company common stock based on settled trades as of that date.

Accumulated Other Comprehensive Earnings

     The components of accumulated other comprehensive earnings are as follows:
 
Foreign
Currency
Translation
Adjustments
 
Net
Benefit
Plan
Adjustments
 
Accumulated
Other
Comprehensive
Earnings
Balance at December 31, 2012
$
162.9

 
$
(93.5
)
 
$
69.4

Other comprehensive income before reclassifications
(59.1
)
 
—

 
(59.1
)
Amounts reclassified from accumulated other comprehensive income (a)
—

 
6.5

 
6.5

Tax effect of adjustments
22.4

 
(2.5
)
 
19.9

Balance at June 30, 2013
$
126.2

 
$
(89.5
)
 
$
36.7


(a) The amortization of prior service cost is included in the computation of net periodic benefit cost. Refer to Note 10 Pension and Postretirement Plans for additional information regarding the Company's net periodic benefit cost.