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Shareholders' Equity
 6 Months Ended
Jun. 30, 2015
Shareholders' Equity  
Shareholders' Equity

6.Shareholders’ Equity

 

In June 2015, our Board of Directors renewed its existing common stock repurchase program by replacing the remainder of the existing program and authorizing the purchase of up to $100.0 million in common stock.  The program does not require a minimum number of shares of common stock to be purchased, has no expiration date and may be suspended or discontinued at any time. As of June 30, 2015, we have $100.0 million available to repurchase shares under the share repurchase program.

 

Other Comprehensive (Loss) Income and Accumulated Other Comprehensive Loss

 

Our other comprehensive (loss) income, consisting of foreign currency translation adjustments related to our subsidiaries that have a functional currency other than the U.S. dollar was as follows (in millions):

 

 

 

 

 

 

 

Accumulated

 

 

Other

 

 

Comprehensive

 

   

Loss

Balance as of December 31, 2014

 

$
(60.2)

Other comprehensive loss

 

 
(11.8)

Less: Net other comprehensive income attributable to noncontrolling interest

 

 
2.5

Balance as of June 30, 2015

 

$
(74.5)

 

 

 

 

Balance as of December 31, 2013

 

$
(29.3)

Other comprehensive income

 

 
8.9

Balance as of June 30, 2014

 

$
(20.4)

 

The foreign currency translation adjustment losses for the six months ended June 30, 2015 were primarily due to the strengthening of the U.S. dollar as compared to the Brazilian Real. The foreign currency translation adjustment gains for the six months ended June 30, 2014 were primarily due to the strengthening of the Brazilian Real and the British Pound as compared to the U.S dollar.