Equity

The changes in equity are as follows:



	Ingevity Stockholders'
	Common Stock
In millions, except per share data	Shares	Amount		Additional paid in capital		Retained earnings		Accumulated other comprehensive income (loss)			Treasury stock			Noncontrolling interest			Total
Balance at December 31, 2016	42.1	$	0.4	$	129.9	$	16.0	$	(19.0	)	$	(0.3	)	$	7.6		$	134.6
Net income (loss)	—	—		—		51.1		—			—			7.7			58.8
Other comprehensive income ⁽¹⁾	—	—		—		—		3.8			—			—			3.8
Common stock issued - compensation plans	0.1	—		—		—		—			(0.5		)	—			(0.5		)
Noncontrolling interest distributions	—	—		—		—		—			—			(4.8		)	(4.8		)
Stock-based compensation expense	—	—		4.9		—		—			—			—			4.9
Repurchases of Common Stock	—	—		—		—		—			(0.7		)	—			(0.7		)
Balance at June 30, 2017	42.2	$	0.4	$	134.8	$	67.1	$	(15.2	)	$	(1.5	)	$	10.5		$	196.1

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(1)	See Condensed Consolidated Statements of Comprehensive Income (Loss)

Noncontrolling interest

The following table illustrates the noncontrolling interest activity for the periods presented:



In millions	Noncontrolling interest
Balance at December 31, 2016 and 2015, respectively	$	7.6		$	3.8
Net income (loss) attributable to noncontrolling interest	7.7			4.3
Noncontrolling interest distributions	(4.8		)	(1.7		)
Balance at June 30, 2017 and 2016, respectively	$	10.5		$	6.4

Share Repurchases

On February 20, 2017, our Board of Directors authorized the repurchase of up to $100 million of our common stock. The repurchase program does not include a specific timetable or price targets and may be suspended or terminated at any time. Shares may be purchased through open market or privately negotiated transactions at the discretion of management based on its evaluation of prevailing market conditions and other factors.

During the three months ended June 30, 2017, we repurchased 12,400 shares of our common stock at a weighted average cost per share of $57.88. At June 30, 2017, $99.3 million remained unused under our Board-authorized repurchase program. We record shares of common stock repurchased at cost as treasury stock, resulting in a reduction of stockholders’ equity in the Condensed Consolidated Balance Sheets. When the treasury shares are contributed under our employee benefit plans or issued for option exercises, we use a first-in, first-out (“FIFO”) method for determining cost. The difference between the cost of the shares and the market price at the time of contribution to an employee benefit plan is added to or deducted from the related capital in excess of par value of common stock.