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Shareholders' Equity
 3 Months Ended
Mar. 31, 2017
Equity [Abstract]  
Shareholders' Equity
Shareholders' Equity

The Company has three classes of common stock as follows (share data in millions):

 
 
 
Issued Common Stock
 
Authorized Shares
 
Outstanding
 
Treasury
 
Total Issued Shares
Class A stock ($0.025 par value)
80.0

 
 
 
 
 
 
March 31, 2017
 
 
37.8

 
2.2

 
40.0

December 31, 2016
 
 
37.2

 
2.8

 
40.0

 
 
 
 
 
 
 
 
Class B stock ($0.025 par value)
80.0

 
 
 
 
 
 
March 31, 2017
 
 
14.2

 
0.8

 
15.0

December 31, 2016
 
 
14.2

 
0.8

 
15.0

 
 
 
 
 
 
 
 
Class C stock ($0.025 par value)
20.0

 
 
 
 
 
 
March 31, 2017
 
 
—

 
0.5

 
0.5

December 31, 2016
 
 
—

 
0.5

 
0.5


In accordance with the Articles of Incorporation, each class A common share has one vote per share and each class B and class C common share has ten votes per share on all matters voted upon by the Company's shareholders. Liquidation rights are the same for all three classes of common stock.

The Company also has 0.5 million shares of $0.01 par value preferred stock authorized, of which none were issued at March 31, 2017, and December 31, 2016. The Company has no present plans to issue any preferred stock.

On September 6, 2011, the Company's Board of Directors authorized a share repurchase program of up to $100.0 million of the Company's outstanding class A common stock. There were no share repurchases during the three months ended March 31, 2017. As of March 31, 2017, there were $82.9 million of authorized repurchases remaining under the program.

In accordance with the Articles of Incorporation, dividends are paid equally for all three classes of common shares. The dividend activity related to the then outstanding shares for the three months ended March 31, 2017 and 2016, was as follows:

 
Declaration Date
 
Record Date
 
Payment Date
 
Dividend Amount
per Share
2017
 
 
 
 
 
 
 
Q1 Dividend
February 17, 2017
 
February 27, 2017
 
March 10, 2017
 
$
0.30

2016
 
 
 
 
 
 
 
Q1 Dividend
February 19, 2016
 
March 7, 2016
 
March 18, 2016
 
0.30



Activity impacting shareholders' equity for the three months ended March 31, 2017, was as follows:

 
Shareholders' Equity
Balance at December 31, 2016
$
441.5

Net earnings
25.4

Translation adjustments
7.7

Interest rate swap adjustments
0.4

Cash dividends declared
(15.7
)
Stock-based compensation
6.0

Sale of stock for options exercised
1.3

Equity awards redeemed to pay employees' tax obligations
(5.9
)
Balance at March 31, 2017
$
460.7