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Shareholders' Equity
 3 Months Ended
Mar. 31, 2021
Equity [Abstract]  
Shareholders' Equity

(11) Shareholders’ Equity

The components of accumulated other comprehensive loss, net of tax, were as follows:

 

 

 

March 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Foreign currency translation

 

$

(168.6

)

 

$

(72.1

)

Translation loss on derivative instruments, net of income tax benefit of $(20.5) and $(34.9), respectively

 

 

(31.6

)

 

 

(81.2

)

Translation loss on long-term intercompany loans

 

 

(127.7

)

 

 

(133.3

)

Defined benefit pension plans, net of income tax benefit of $(37.9) and $(38.2), respectively

 

 

(110.4

)

 

 

(111.4

)

Retiree health care plan, net of income taxes of $1.8 for both 2021 and 2020

 

 

0.5

 

 

 

0.7

 

Accumulated other comprehensive loss

 

$

(437.8

)

 

$

(397.3

)

 

Noncontrolling Interests

Noncontrolling interests, reported in total shareholders' equity in our Consolidated Balance Sheets, represent amounts related to majority-owned subsidiaries in which we have a controlling financial interest. Net earnings attributable to these noncontrolling interests are recorded in interest and other expenses, net in our Consolidated Statements of Operations. We recorded income of $0.9 and expenses of $0.6 for the three months ended March 31, 2021 and 2020, respectively.

Share Repurchases

In August 2019, the Board of Directors authorized the repurchase of 6.0 million shares of our common stock, with terms consistent with the previous authorizations. This authorization is in addition to the August 2018 Board authorization to purchase 6.0 million shares of our common stock each. Share repurchases may be made from time to time through a variety of methods, including open market purchases, block transactions, privately negotiated transactions or similar facilities. During the first quarter of 2021, we repurchased a total of 1.1 million shares under the 2019 authorization at a cost of $100.1. During the first quarter of 2020, we repurchased a total of 0.9 million shares comprised of 0.8 million shares under the 2018 authorization and 0.1 million shares under the 2019 authorization, at a total cost of $63.8. As of March 31, 2021, there were 2.3 million shares remaining authorized for repurchase under the 2019 authorization and no shares remaining authorized for repurchase under the 2018 authorization.