SHAREHOLDERS' EQUITY

Activity in our various shareholders' equity accounts for each of the years in the three-year period ended December 31, 2014 was as follows (in millions):



	Shares	Par Value		Additional Paid-in Capital			Retained Earnings			AOCI			Treasury Shares			Noncontrolling Interest
BALANCE, December 31, 2011	235.9	$	23.7	$	5,253.0		$	5,613.1		$	8.6		$	(19.1	)	$	5.2
Net income	—	—		—			1,169.7			—			—			7.0
Dividends paid	—	—		—			(348.1		)	—			—			—
Distributions to noncontrolling interests	—	—		—			—			—			—			(6.5		)
Shares issued under share-based compensation plans, net	1.8	.2		35.3			—			—			(.1		)	—
Equity issuance costs	—	—		66.7			—			—			—			—
Tax deficiency from share-based compensation	—	—		(1.0		)	—			—			—			—
Repurchase of shares	—	—		—			—			—			(11.8		)	—
Share-based compensation cost	—	—		44.7			—			—			—			—
Net other comprehensive income	—	—		—			—			11.5			—			—
BALANCE, December 31, 2012	237.7	23.9		5,398.7			6,434.7			20.1			(31.0		)	5.7
Net income	—	—		—			1,418.2			—			—			9.7
Dividends paid	—	—		—			(525.6		)	—			—			—
Distributions to noncontrolling interests	—	—		—			—			—			—			(8.1		)
Shares issued in connection with share-based compensation plans, net	1.9	.2		21.8			—			—			(.1		)	—
Tax benefit from share-based compensation	—	—		.1			—			—			—			—
Repurchase of shares	—	—		—			—			—			(14.1		)	—
Share-based compensation cost	—	—		46.6			—			—			—			—
Net other comprehensive loss	—	—		—			—			(1.9		)	—			—
BALANCE, December 31, 2013	239.6	24.1		5,467.2			7,327.3			18.2			(45.2		)	7.3
Net (loss) income	—	—		—			(3,902.6		)	—			—			14.1
Dividends paid	—	—		—			(704.3		)	—			—			—
Distributions to noncontrolling interests	—	—		—			—			—			—			(13.5		)
Shares issued in connection with share-based compensation plans, net	1.1	.1		.4			—			—			(.1		)	—
Tax benefit from share-based compensation	—	—		1.2			—			—			—			—
Repurchase of shares	—	—		—			—			—			(13.7		)	—
Share-based compensation cost	—	—		48.7			—			—			—			—
Net other comprehensive loss	—	—		—			—			(6.3		)	—			—
BALANCE, December 31, 2014	240.7	$	24.2	$	5,517.5		$	2,720.4		$	11.9		$	(59.0	)	$	7.9

During 2013, our shareholders approved a new share repurchase program. Subject to certain provisions under English law, including the requirement of Ensco plc to have sufficient distributable reserves, we may purchase up to a maximum of $2.0 billion in the aggregate under the program, but in no case more than 35.0 million shares. The program terminates during 2018. As of December 31, 2014, there had been no share repurchases under this program.