Stockholders’ equity

The company has 150 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, 2017, 35.1 million shares of unissued common stock of the company were reserved for stock-based incentive plans and the company’s convertible senior notes.

Accumulated other comprehensive income (loss) as of December 31, 2017, 2016 and 2015, is as follows:



	Total			Translation Adjustments			Postretirement Plans
Balance at December 31, 2014	$	(4,113.4	)	$	(737.8	)	$	(3,375.6	)
Other comprehensive income before reclassifications	346.2			(96.0		)	442.2
Amounts reclassified from accumulated other comprehensive income	(178.1		)	—			(178.1		)
Current period other comprehensive income	168.1			(96.0		)	264.1
Balance at December 31, 2015	(3,945.3		)	(833.8		)	(3,111.5		)
Other comprehensive income before reclassifications	(64.9		)	(93.3		)	28.4
Amounts reclassified from accumulated other comprehensive income	(142.6		)	—			(142.6		)
Current period other comprehensive income	(207.5		)	(93.3		)	(114.2		)
Balance at December 31, 2016	(4,152.8		)	(927.1		)	(3,225.7		)
Other comprehensive income before reclassifications	506.8			121.9			384.9
Amounts reclassified from accumulated other comprehensive income	(169.8		)	(11.8		)	(158.0		)
Current period other comprehensive income	337.0			110.1			226.9
Balance at December 31, 2017	$	(3,815.8	)	$	(817.0	)	$	(2,998.8	)

Amounts reclassified out of accumulated other comprehensive income for the three years ended December 31, 2017 are as follows:



Year ended December 31,	2017			2016			2015
Translation Adjustments:
Adjustment for substantial completion of liquidation of foreign subsidiaries^(a)	$	(11.8	)	$	—		$	—
Postretirement Plans:
Amortization of prior service cost^(b)	5.6			5.6			3.1
Amortization of actuarial losses^(b)	(174.1		)	(155.2		)	(189.7		)
Curtailment gain^(b)	5.4			2.0			—
Total before tax	(174.9		)	(147.6		)	(186.6		)
Income tax benefit	5.1			5.0			8.5
Total reclassifications for the period	$	(169.8	)	$	(142.6	)	$	(178.1	)

^(a) Reported in Other income (expense), net in the consolidated statements of income

^(b) These items are included in net periodic postretirement cost (see Note 16).

The following table summarizes the changes in shares of common stock and treasury stock during the three years ended December 31, 2017:



	Common Stock	Treasury Stock
Balance at December 31, 2014	52.4	2.7
Stock-based compensation	0.2	—
Balance at December 31, 2015	52.6	2.7
Stock-based compensation	0.2	—
Balance at December 31, 2016	52.8	2.7
Stock-based compensation	0.6	0.2
Balance at December 31, 2017	53.4	2.9