v3.7.0.1

Equity, Dividends and Change in Accumulated Other Comprehensive Loss | 12 Months Ended
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Dec. 31, 2016
Equity [Abstract] |
Equity, Dividends and Change in Accumulated Other Comprehensive Loss | (13) Equity, Dividends and Change in Accumulated Other Comprehensive Loss Equity On August 4, 2014, in connection with the Combination, the issued and outstanding shares of HHI, Metaldyne and Grede were converted to shares of MPG. The number of MPG shares issued upon conversion was determined based on the relative fair value of each entity to the overall fair value of MPG at the time of the Combination. Upon completion of the Combination, 13.4 million shares of MPG common stock were issued and outstanding. On November 18, 2014, MPG common stock was split at a 5-to-1 ratio, with each stockholder receiving four additional shares for each share held. Upon completion of the Stock Split, 67.1 million shares were outstanding. The number of authorized shares was increased to 400 million. The Combination and the Stock Split have been retrospectively applied to the Successor Period financial statements. On December 12, 2014, American Securities sold 10,000,000 shares of the Company’s common stock under an IPO, for which no proceeds were received by the Company. The Company recognized costs directly attributable to the IPO of $5.6 million within paid-in capital. On January 15, 2015, the underwriters of the IPO exercised their option to purchase additional shares of our common stock from American Securities. After selling these additional shares, American Securities owned 78.5% of our common stock. Dividends In 2016 and 2015, the Company declared the following cash dividends on its common stock, totaling $25.4 million and $18.5 million, respectively.
Date Declared |  | Date Paid |  | Dividend Per Share |
November 2, 2016 |  | December 9, 2016 |  | $ | 0.0925 |
August 3, 2016 |  | September 20, 2016 |  |  | 0.0925 |
May 4, 2016 |  | June 21, 2016 |  |  | 0.0925 |
February 24, 2016 |  | April 26, 2016 |  |  | 0.0900 |
October 28, 2015 |  | December 3, 2015 |  |  | 0.0900 |
July 29, 2015 |  | August 31, 2015 |  |  | 0.0900 |
March 10, 2015 |  | May 26, 2015 |  |  | 0.0900 |
As of December 31, 2016, the Company had accrued dividends of $0.6 million on unvested Restricted Shares, which are to be paid upon vesting. In 2014, prior to the Combination, HHI paid dividends to its stockholders totaling $111.3 million, which was primarily funded by an incremental term loan. Share Repurchases On February 24, 2016, our board of directors authorized a share repurchase program (the “Share Repurchase Program”). The Share Repurchase Program, as amended on August 3, 2016, authorized the Company to purchase shares of its common stock for an aggregate repurchase price not to exceed $35.0 million. Subject to applicable rules and regulations, shares could be repurchased through open market purchases, privately negotiated transactions, or otherwise. On November 3, 2016, the Company suspended the Share Repurchase Program due to the pending merger with American Axle & Manufacturing Holdings, Inc. As of December 31, 2016, cumulative shares repurchased totaled 1,898,261 shares at an average purchase price per share of $15.56. The repurchased shares are presented as common stock held in treasury, at cost, on the consolidated balance sheets. Changes in Accumulated Other Comprehensive Loss Attributable to Stockholders, Net of Tax
|  | Foreign Currency Items |  |  | Defined Benefit Items |  |  | Total |  |  | Total Attributable to Noncontrolling Interest |  |  | Total Attributable to Stockholders |
|  | (In millions) |
Balance, December 31, 2013 |  | $ | (3.8 | ) |  |  | 0.4 |  |  |  | (3.4 | ) |  |  | (0.1 | ) |  |  | (3.3 | )
Other comprehensive income before reclassifications |  |  | (23.9 | ) |  |  | (8.2 | ) |  |  | (32.1 | ) |  |  | — |  |  |  | (32.1 | )
Reclassifications |  |  | — |  |  |  | 0.2 |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.2 |
Balance, December 31, 2014 |  |  | (27.7 | ) |  |  | (7.6 | ) |  |  | (35.3 | ) |  |  | (0.1 | ) |  |  | (35.2 | )
Other comprehensive income before reclassifications |  |  | (24.3 | ) |  |  | 1.8 |  |  |  | (22.5 | ) |  |  | — |  |  |  | (22.5 | )
Reclassifications |  |  | — |  |  |  | 0.4 |  |  |  | 0.4 |  |  |  | — |  |  |  | 0.4 |
Balance, December 31, 2015 |  |  | (52.0 | ) |  |  | (5.4 | ) |  |  | (57.4 | ) |  |  | (0.1 | ) |  |  | (57.3 | )
Other comprehensive income before reclassifications |  |  | (21.7 | ) |  |  | (4.8 | ) |  |  | (26.5 | ) |  |  | (0.1 | ) |  |  | (26.4 | )
Reclassifications |  |  | — |  |  |  | 0.2 |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.2 |
Balance, December 31, 2016 |  | $ | (73.7 | ) |  |  | (10.0 | ) |  |  | (83.7 | ) |  |  | (0.2 | ) |  |  | (83.5 | )

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