Equity

Share Repurchase Program

On October 11, 2015, the Company’s Board of Directors authorized the repurchase of up to $100.0 million of the Company’s Common stock from time-to-time on the open market or in privately negotiated transactions. The repurchase program is authorized until December 31, 2016. The timing and amount of shares repurchased is to be determined by management based on its evaluation of market conditions and other factors.

During the nine months ended September 30, 2016, the Company repurchased 1,000,000 shares of its Common stock in open market transactions for approximately $20.8 million under a plan complying with Rule 10b5-1 under the Securities Exchange Act of 1934. As of September 30, 2016, the remaining stock repurchase authorization provided by the Company’s Board of Directors is approximately $52 million.

Share-Based Payments

On May 13, 2016, the Company’s Board of Directors and stockholders approved the Colfax Corporation 2016 Omnibus Incentive Plan (the “2016 Plan”). Under the 2016 Plan, the Company has reserved up to 10.5 million shares of Common stock for potential issuance as stock-based compensation. Upon approval of the 2016 Plan, awards are no longer granted under the previously existing Colfax Corporation Omnibus Incentive Plan, as amended and restated on April 2, 2012.

Accumulated Other Comprehensive Loss

The following tables present the changes in the balances of each component of Accumulated other comprehensive loss including reclassifications out of Accumulated other comprehensive loss for the nine months ended September 30, 2016 and September 25, 2015. All amounts are net of tax and noncontrolling interest.



	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension And Other Post-Retirement Benefit Cost			Foreign Currency Translation Adjustment			Unrealized Gain On Hedging Activities		Total
	(In thousands)
Balance at January 1, 2016	$	(193,258	)	$	(528,620	)	$	35,163	$	(686,715	)
Other comprehensive income (loss) before reclassifications:
Foreign currency translation adjustment	370			(161,436		)	758		(160,308		)
Loss on long-term intra-entity foreign currency transactions	—			(30,353		)	—		(30,353		)
Gain on net investment hedges	—			—			3,482		3,482
Unrealized gain on cash flow hedges	—			—			327		327
Other comprehensive income (loss) before reclassifications	370			(191,789		)	4,567		(186,852		)
Amounts reclassified from Accumulated other comprehensive loss	3,579			2,378			—		5,957
Net current period Other comprehensive income (loss)	3,949			(189,411		)	4,567		(180,895		)
Balance at September 30, 2016	$	(189,309	)	$	(718,031	)	$	39,730	$	(867,610	)



	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension And Other Post-Retirement Benefit Cost			Foreign Currency Translation Adjustment			Unrealized Gain On Hedging Activities			Total
	(In thousands)
Balance at January 1, 2015	$	(240,513	)	$	(227,059	)	$	23,881		$	(443,691	)
Other comprehensive income (loss) before reclassifications:
Foreign currency translation adjustment	6,090			(198,347		)	(365		)	(192,622		)
Loss on long-term intra-entity foreign currency transactions	—			(8,203		)	—			(8,203		)
Gain on net investment hedges	—			—			8,727			8,727
Unrealized loss on cash flow hedges	—			—			(3,350		)	(3,350		)
Other	3,817			—			—			3,817
Other comprehensive income (loss) before reclassifications	9,907			(206,550		)	5,012			(191,631		)
Amounts reclassified from Accumulated other comprehensive loss	5,887			—			—			5,887
Net current period Other comprehensive income (loss)	15,794			(206,550		)	5,012			(185,744		)
Balance at September 25, 2015	$	(224,719	)	$	(433,609	)	$	28,893		$	(629,435	)

The effect on Net income of amounts reclassified out of each component of Accumulated other comprehensive loss for the three and nine months ended September 30, 2016 and September 25, 2015 is as follows:



	Three Months Ended September 30, 2016							Nine Months Ended September 30, 2016
	Amounts Reclassified From Accumulated Other Comprehensive Loss		Tax (Benefit) Expense			Total		Amounts Reclassified From Accumulated Other Comprehensive Loss		Tax (Benefit) Expense			Total
	(In thousands)

Pension and other post-retirement benefit cost:
Amortization of net loss⁽¹⁾	$	1,285	$	(736	)	$	549	$	5,367	$	(2,186	)	$	3,181
Amortization of prior service cost⁽¹⁾	62		260			322		186		212			398
Other:
Foreign currency translation adjustment⁽²⁾	2,378		—			2,378		2,378		—			2,378
	$	3,725	$	(476	)	$	3,249	$	7,931	$	(1,974	)	$	5,957



	Three Months Ended September 25, 2015							Nine Months Ended September 25, 2015
	Amounts Reclassified From Accumulated Other Comprehensive Loss		Tax Benefit			Total		Amounts Reclassified From Accumulated Other Comprehensive Loss		Tax Benefit			Total
	(In thousands)

Pension and other post-retirement benefit cost:
Amortization of net loss⁽¹⁾	$	2,662	$	(903	)	$	1,759	$	9,276	$	(3,574	)	$	5,702
Amortization of prior service cost⁽¹⁾	54		—			54		185		—			185
	$	2,716	$	(903	)	$	1,813	$	9,461	$	(3,574	)	$	5,887

⁽¹⁾Included in the computation of net periodic benefit (income) cost. See Note 10, “Net Periodic Benefit Cost - Defined Benefit Plans” for additional details.

⁽²⁾ Represents foreign currency translation charges reclassified as a result of the deconsolidation of the Company’s Venezuelan operations which are included in Selling, general and administrative expense for the three and nine months ended September 30, 2016. See Note 1, “General” for additional details.

During the nine months ended September 30, 2016, Noncontrolling interest increased by $4.9 million as a result of Other comprehensive income, primarily due to foreign currency translation adjustment. During the nine months ended September 25, 2015, Noncontrolling interest decreased by $16.5 million as a result of Other comprehensive loss, primarily due to foreign currency translation adjustment.