STOCKHOLDERS' EQUITY

Accumulated Other Comprehensive Loss



	January 31,
(in millions)	2018			2017
Accumulated other comprehensive (loss) earnings, net of tax:
Foreign currency translation adjustments	$	(48.0	)	$	(143.7	)
Unrealized (loss) gain on marketable securities	(1.8		)	0.8
Deferred hedging loss	(22.9		)	(16.1		)
Net unrealized loss on benefit plans	(65.3		)	(97.2		)
	$	(138.0	)	$	(256.2	)

Additions to and reclassifications out of accumulated other comprehensive earnings (loss) were as follows:



	Years Ended January 31,
(in millions)	2018			2017			2016
Foreign currency translation adjustments	$	97.9		$	8.3		$	(59.9	)
Income tax (expense) benefit	(2.2		)	(16.7		)	0.9
Foreign currency translation adjustments, net of tax	95.7			(8.4		)	(59.0		)
Unrealized gain (loss) on marketable securities	0.2			2.7			(4.1		)
Reclassification for gain included in net earnings ^a	(3.5		)	—			(0.4		)
Income tax benefit (expense)	0.7			(0.9		)	1.6
Unrealized (loss) gain on marketable securities, net of tax	(2.6		)	1.8			(2.9		)
Unrealized (loss) gain on hedging instruments	(21.0		)	12.1			(22.2		)
Reclassification adjustment for loss (gain) included in net earnings ^b	13.0			4.9			(11.7		)
Income tax benefit (expense)	1.2			(6.3		)	12.5
Unrealized (loss) gain on hedging instruments, net of tax	(6.8		)	10.7			(21.4		)
Net actuarial gain	30.6			14.1			122.5
Amortization of net loss included in net earnings ^c	13.3			14.7			30.4
Amortization of prior service credit included in net earnings ^c	(0.5		)	(0.7		)	(0.6		)
Income tax expense	(11.5		)	(10.3		)	(56.6		)
Net unrealized gain on benefit plans, net of tax	31.9			17.8			95.7
Total other comprehensive earnings, net of tax	$	118.2		$	21.9		$	12.4


^a	These gains are reclassified into Other (income) expense, net.


^b	These losses (gains) are reclassified into Interest expense and financing costs and Cost of sales (see "Note H. Hedging Instruments" for additional details).


^c	These losses (gains) are included in the computation of net periodic pension costs (see "Note N. Employee Benefit Plans" for additional details).

Stock Repurchase Program

In January 2016, the Registrant's Board of Directors approved a new share repurchase program (the "2016 Program") and terminated the Company's then-existing share repurchase program, which was approved in March 2014 and had authorized the Company to repurchase up to $300.0 million of its Common Stock through open market transactions (the "2014 Program"). The 2016 Program, which will expire on January 31, 2019, authorizes the Company to repurchase up to $500.0 million of its Common Stock through open market transactions, block trades or privately negotiated transactions. Purchases under the 2014 Program were, and purchases under the 2016 Program have been, executed under a written plan for trading securities as specified under Rule 10b5-1 promulgated under the Securities and Exchange Act of 1934, as amended, the terms of which are within the Company's discretion, subject to applicable securities laws, and are based on market conditions and the Company's liquidity needs. As of January 31, 2018, $211.2 million remained available for repurchase under the 2016 Program.

The Company's share repurchase activity was as follows:



	Years Ended January 31,
(in millions, except per share amounts)	2018		2017		2016
Cost of repurchases	$	99.2	$	183.6	$	220.4
Shares repurchased and retired	1.0		2.8		2.8
Average cost per share	$	94.86	$	65.24	$	78.40

Cash Dividends

The Company's Board of Directors declared quarterly dividends which, on an annual basis, totaled $1.95, $1.75 and $1.58 per share of Common Stock in 2017, 2016 and 2015, respectively.

On February 15, 2018, the Company's Board of Directors declared a quarterly dividend of $0.50 per share of Common Stock. This dividend will be paid on April 10, 2018 to stockholders of record on March 20, 2018.