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Stockholders' Equity
 3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Shareholders' Equity
STOCKHOLDERS’ EQUITY
Dividends
On February 20, 2015, the Company’s Board of Directors (the “Board”) declared a quarterly cash dividend of $0.06 per common share. The dividend totaled $3.8 million and was distributed on March 27, 2015 to holders of record at the close of business on March 9, 2015.
On April 28, 2015, the Board declared a quarterly cash dividend of $0.06 per common share payable on June 9, 2015 to holders of record at the close of business on May 19, 2015.
Stock Repurchase Program
In April 2014, the Board authorized a stock repurchase program (the “April 2014 program”) of up to $15.0 million of the Company’s common stock. The April 2014 program is intended primarily to facilitate a reduction in the investment in Company stock within the Company’s U.S. defined benefit pension plan portfolio and to reduce dilution resulting from issuances of stock under the Company’s employee equity incentive programs. During the three months ended March 31, 2015, the Company repurchased 233,637 shares for a total of $3.6 million under the April 2014 program.
In November 2014, the Board authorized an additional stock repurchase program (the “November 2014 program”) of up to $75.0 million of the Company’s common stock. The November 2014 program supplements the prior $15.0 million authorization under the April 2014 program, which remains in effect. The November 2014 program is intended primarily to facilitate opportunistic purchases of Company stock as a means to provide cash returns to stockholders, enhance stockholder returns and manage the Company’s capital structure. There were no stock repurchases under the November 2014 program during the three months ended March 31, 2015.
Under the stock repurchase programs, the Company is authorized to repurchase, from time to time, shares of its outstanding common stock in the open market or through privately negotiated transactions. Stock repurchases by the Company are subject to market conditions and other factors and may be commenced, suspended or discontinued at any time.
Accumulated Other Comprehensive Loss
The following tables summarize the changes in each component of Accumulated other comprehensive loss, net of tax:
(in millions) (a)
Actuarial Losses
 
Foreign
Currency Translation
 
Unrealized
Gain on
Derivatives
 
Total
Balance at January 1, 2015
$
(79.8
)
 
$
0.2

 
$
0.1

 
$
(79.5
)
Other comprehensive income (loss) before reclassifications
0.8

 
(11.9
)
 
—

 
(11.1
)
Amounts reclassified from accumulated other comprehensive loss
1.1

 
—

 
—

 
1.1

Net current-period other comprehensive income (loss)
1.9

 
(11.9
)
 
—

 
(10.0
)
Balance at March 31, 2015
$
(77.9
)
 
$
(11.7
)
 
$
0.1

 
$
(89.5
)
(in millions) (a)
Actuarial Losses
 
Foreign
Currency Translation
 
Unrealized
Gain on
Derivatives
 
Total
Balance at January 1, 2014
$
(58.1
)
 
$
16.0

 
$
0.2

 
$
(41.9
)
Other comprehensive loss before reclassifications
(0.1
)
 
(0.1
)
 
—

 
(0.2
)
Amounts reclassified from accumulated other comprehensive loss
0.9

 
0.1

 
—

 
1.0

Net current-period other comprehensive income
0.8

 
—

 
—

 
0.8

Balance at March 31, 2014
$
(57.3
)
 
$
16.0

 
$
0.2

 
$
(41.1
)
(a)
Amounts in parenthesis indicate debits.
The following table summarizes the amount of actuarial losses reclassified from Accumulated other comprehensive loss, net of tax, and the affected line item in the Condensed Consolidated Statements of Operations:
Details about Accumulated Other Comprehensive Loss Components
 
Amount Reclassified from Accumulated Other Comprehensive Loss
 
Affected Line Item in Condensed Consolidated Statements of Operations
 
2015
 
2014
 
 
 
(in millions) (a)
 
 
Amortization of actuarial losses of defined benefit pension plans
 
$
(1.8
)
 
$
(1.3
)
 
(b)
Total before tax
 
(1.8
)
 
(1.3
)
 
 
Income tax benefit
 
0.7

 
0.4

 
Income tax expense
Total reclassifications for the period, net of tax
 
$
(1.1
)
 
$
(0.9
)
 
 
(a)
Amount in parenthesis indicate debits to profit/loss.
(b)
The actuarial loss components of Accumulated other comprehensive loss are included in the computation of net periodic pension cost for the period, as disclosed in Note 5 – Pensions.