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Stockholders' Equity | 12 Months Ended
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Dec. 31, 2013
Stockholders' Equity | 17. Stockholders’ equity The company has 100 million authorized shares of common stock, par value $.01 per share, and 40 million shares of authorized preferred stock, par value $1 per share, issuable in series. At December 31, 2013, 19.1 million shares of unissued common stock of the company were reserved for stock-based incentive plans and convertible preferred stock. On February 28, 2011, the company sold 2,587,500 shares of 6.25% mandatory convertible preferred stock for net proceeds of $249.7 million. Each share of mandatory convertible preferred stock will automatically convert on March 1, 2014 into between 2.1899 and 2.6717 shares of the company’s common stock, subject to adjustment, depending on the volume weighted average price per share of the company’s common stock over the 20 consecutive trading days ending on the third trading day immediately preceding the mandatory conversion date. At any time prior to March 1, 2014, holders may elect to convert all or a portion of their shares of the mandatory convertible preferred stock at the minimum conversion rate of 2.1899 shares of the company’s common stock, subject to adjustment. The company has paid dividends on each share of the mandatory convertible preferred stock on a cumulative basis at an annual rate of 6.25% on the initial liquidation preference of $100 per share (equivalent to $6.25 per share, or a total of $16.2 million, per year). Dividends accrue and accumulate from the date of issuance and are payable on March 1, June 1, September 1 and December 1. The final dividend will be paid in cash on March 1, 2014, the mandatory conversion date. On December 10, 2012, the company announced that its Board of Directors had authorized the company to purchase up to an aggregate of $50 million of the company’s common stock and mandatory convertible preferred stock through December 31, 2014. During the twelve months ended December 31, 2013, the company repurchased an aggregate of .6 million shares of common stock for approximately $11.7 million. Actual cash disbursements for repurchased shares may differ if the settlement dates for shares repurchased occurs after the end of a quarter. At December 31, 2013, there remained approximately $38.3 million available for future repurchases under the Board authorization. Accumulated other comprehensive income (loss) as of December 31, 2013, 2012 and 2011, is as follows:
(millions) |  |  | Total |  |  |  | Translation Adjustments |  |  |  | Postretirement Plans |
Balance at December 31, 2010 |  | $ | (2,928.3 | ) |  | $ | (604.2 | ) |  | $ | (2,324.1 | )
Other comprehensive income before reclassifications |  |  | (669.2 | ) |  |  | (44.9 | ) |  |  | (624.3 | )
Amounts reclassified from accumulated other comprehensive income |  |  | (103.4 | ) |  |  | – |  |  |  | (103.4 | )
Current period other comprehensive income |  |  | (772.6 | ) |  |  | (44.9 | ) |  |  | (727.7 | )
Balance at December 31, 2011 |  |  | (3,700.9 | ) |  |  | (649.1 | ) |  |  | (3,051.8 | )
Other comprehensive income before reclassifications |  |  | (275.9 | ) |  |  | 14.8 |  |  |  | (290.7 | )
Amounts reclassified from accumulated other comprehensive income |  |  | (156.8 | ) |  |  | – |  |  |  | (156.8 | )
Current period other comprehensive income |  |  | (432.7 | ) |  |  | 14.8 |  |  |  | (447.5 | )
Balance at December 31, 2012 |  |  | (4,133.6 | ) |  |  | (634.3 | ) |  |  | (3,499.3 | )
Other comprehensive income before reclassifications |  |  | 985.1 |  |  |  | (42.5 | ) |  |  | 1,027.6 |
Amounts reclassified from accumulated other comprehensive income |  |  | (184.9 | ) |  |  | – |  |  |  | (184.9 | )
Current period other comprehensive income |  |  | 800.2 |  |  |  | (42.5 | ) |  |  | 842.7 |
Balance at December 31, 2013 |  | $ | (3,333.4 | ) |  | $ | (676.8 | ) |  | $ | (2,656.6 | )
Amounts related to postretirement plans not reclassified in their entirety out of accumulated other comprehensive income were as follows:
Year ended December 31 (millions) |  | 2013 |
Amortization of prior service cost* |  | $ | .4 |
Amortization of actuarial losses* |  |  | 191.4 |
Total before tax |  |  | 191.8 |
Income tax benefit |  |  | (6.9 | )
Net of tax |  | $ | 184.9 |
* These items are included in net periodic postretirement cost (see note 16). The following table summarizes the changes in preferred stock, common stock and treasury stock during the three years ended December 31, 2013:
(millions) |  |  | Preferred Stock |  |  |  | Common Stock |  |  |  | Treasury Stock |
Balance at December 31, 2010 |  |  | – |  |  |  | 42.9 |  |  |  | .3 |
Stock-based compensation |  |  | – |  |  |  | .9 |  |  |  | – |
Sale of preferred stock |  |  | 2.6 |  |  |  | – |  |  |  | – |
Balance at December 31, 2011 |  |  | 2.6 |  |  |  | 43.8 |  |  |  | .3 |
Stock-based compensation |  |  | – |  |  |  | .5 |  |  |  | .1 |
Balance at December 31, 2012 |  |  | 2.6 |  |  |  | 44.3 |  |  |  | .4 |
Common stock repurchases |  |  | – |  |  |  | – |  |  |  | .6 |
Stock-based compensation |  |  | – |  |  |  | .8 |  |  |  | .1 |
Balance at December 31, 2013 |  |  | 2.6 |  |  |  | 45.1 |  |  |  | 1.1 |

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
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