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Equity | 9 Months Ended
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Sep. 30, 2019
Equity |
Equity | Note 9. Equity ​ Dividends ​ On October 22, 2019, our Board of Directors declared the 2019 fourth quarter cash dividend of $0.55 per share of common stock, payable on December 6, 2019 to stockholders of record as of November 15, 2019. ​ During the three months ended September 30, 2019 and 2018, we declared and paid quarterly dividends of $0.55 and $0.50 per share, or $36.7 million and $35.9 million in total, respectively. During the nine months ended September 30, 2019 and 2018, we declared and paid quarterly dividends of $1.65 and $1.50 per share, or $110.6 million and $108.5 million in total, respectively. In addition, we paid $2.7 million and $2.0 million in dividend equivalents with respect to vested restricted stock units (“RSUs”) during the nine months ended September 30, 2019 and 2018, respectively. ​ Stock-Based Compensation ​ We make annual grants of long-term incentive awards to officers and key employees in the forms of service-based and performance-based RSUs that have approximately 3-year vesting periods. The performance-based RSU awards are subject to both service and performance goal criteria. We also make annual grants of stock to the non-employee members of the Board of Directors that vest immediately upon grant. The fair value of the RSUs and stock grants is determined based on the closing stock price of our common stock on the grant date. ​ In the nine months ended September 30, 2019 and 2018, we made payments of $9.6 million and $5.5 million, respectively, to tax authorities on our employees’ behalf for shares withheld related to net share settlements. These payments are reflected in the Stock-based compensation, net caption of our consolidated statements of equity. ​ A summary of the status of our unvested service-based and performance-based RSUs as of September 30, 2019 and changes during the nine-month period then ended is as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average
​ | ​ | ​ | ​ | Grant Date
​ | ​ | ​ | ​ | Fair Value
Unvested RSUs | ​ | Shares | ​ | Per RSU
Unvested at January 1, 2019 | ​ | 889,830 | ​ | $ | 82.05
Granted(1) | ​ | 488,345 | ​ | ​ | 88.05
Vested | ​ | (3,837) | ​ | ​ | 82.05
Cancelled or forfeited | ​ | (10,318) | ​ | ​ | 82.99
Unvested at September 30, 2019 | ​ | 1,364,020 | ​ | $ | 84.19
Shares reserved for future grants (all plans) | ​ | 1,037,999 | ​ | ​ | ​
(1) | Comprised of 294,190 service-based RSUs and 194,155 performance-based RSUs granted in March 2019 with a fair value of $88.05 per RSU. The service-based RSUs cliff vest on December 1, 2021 and the performance-based RSUs are subject to a three-year performance period ending December 31, 2021.
​ Share Repurchase Plan ​ On October 23, 2018, our Board of Directors amended our share repurchase plan, increasing the total authorized number of shares available to be repurchased by 5.0 million and extending the duration of the plan through December 31, 2021. As of September 30, 2019, we had authorization under the plan to repurchase approximately 6.4 million shares, or about 10% of our current outstanding shares. We repurchase shares through open market purchases under plans complying with Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Repurchased and subsequently retired shares are restored to the status of authorized but unissued shares. Our share repurchases were $50.0 million in the nine months ended September 30, 2019 and $130.7 million, including $0.6 million pending settlement, in the nine months ended September 30, 2018. ​ ​ Accumulated Other Comprehensive Loss ​ Accumulated other comprehensive loss included the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Pension and | ​ | Accumulated
​ | Foreign Currency | ​ | Postretirement | ​ | Other
​ | Translation | ​ | Benefit Adjustments, | ​ | Comprehensive
​ | Loss |  | Net of Tax |  | Loss
​ | (in millions)
Balance as of January 1, 2019 | $ | (76.8) | ​ | $ | (25.9) | ​ | $ | (102.7)
Current-period change | ​ | (0.7) | ​ | ​ | — | ​ | ​ | (0.7)
Balance as of September 30, 2019 | $ | (77.5) | ​ | $ | (25.9) | ​ | $ | (103.4)
​ Foreign currency translation adjustments have not been adjusted for income taxes. Pension and postretirement benefit adjustments are net of taxes of $6.5 million as of September 30, 2019 and December 31, 2018. Income tax effects are released from accumulated other comprehensive loss as defined benefit plan and supplemental executive retirement plan obligations are settled.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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