page 73 of 98 notes to consolidated financial statements ball corporation and subsidiaries 15 .shareholders 2019 equity at december 31 , 2006 , the company had 550 million shares of common stock and 15 million shares of preferred stock authorized , both without par value .preferred stock includes 120000 authorized but unissued shares designated as series a junior participating preferred stock .under the company 2019s shareholder rights agreement dated july 26 , 2006 , one preferred stock purchase right ( right ) is attached to each outstanding share of ball corporation common stock .subject to adjustment , each right entitles the registered holder to purchase from the company one one-thousandth of a share of series a junior participating preferred stock at an exercise price of $ 185 per right .if a person or group acquires 10 percent or more of the company 2019s outstanding common stock ( or upon occurrence of certain other events ) , the rights ( other than those held by the acquiring person ) become exercisable and generally entitle the holder to purchase shares of ball corporation common stock at a 50 percent discount .the rights , which expire in 2016 , are redeemable by the company at a redemption price of $ 0.001 per right and trade with the common stock .exercise of such rights would cause substantial dilution to a person or group attempting to acquire control of the company without the approval of ball 2019s board of directors .the rights would not interfere with any merger or other business combinations approved by the board of directors .the company reduced its share repurchase program in 2006 to $ 45.7 million , net of issuances , compared to $ 358.1 million net repurchases in 2005 and $ 50 million in 2004 .the net repurchases in 2006 did not include a forward contract entered into in december 2006 for the repurchase of 1200000 shares .the contract was settled on january 5 , 2007 , for $ 51.9 million in cash .in connection with the employee stock purchase plan , the company contributes 20 percent of up to $ 500 of each participating employee 2019s monthly payroll deduction toward the purchase of ball corporation common stock .company contributions for this plan were $ 3.2 million in 2006 , $ 3.2 million in 2005 and $ 2.7 million in 2004 .accumulated other comprehensive earnings ( loss ) the activity related to accumulated other comprehensive earnings ( loss ) was as follows : ( $ in millions ) foreign currency translation pension and postretirement items , net of tax effective financial derivatives , net of tax accumulated comprehensive earnings ( loss ) .
[['( $ in millions )', 'foreign currency translation', 'pension and other postretirement items net of tax', 'effective financial derivatives net of tax', 'accumulated other comprehensive earnings ( loss )'], ['december 31 2003', '$ 80.7', '$ -93.1 ( 93.1 )', '$ 11.0', '$ -1.4 ( 1.4 )'], ['2004 change', '68.2', '-33.2 ( 33.2 )', '-0.4 ( 0.4 )', '34.6'], ['december 31 2004', '148.9', '-126.3 ( 126.3 )', '10.6', '33.2'], ['2005 change', '-74.3 ( 74.3 )', '-43.6 ( 43.6 )', '-16.0 ( 16.0 )', '-133.9 ( 133.9 )'], ['december 31 2005', '74.6', '-169.9 ( 169.9 )', '-5.4 ( 5.4 )', '-100.7 ( 100.7 )'], ['2006 change', '57.2', '8.0', '6.0', '71.2'], ['december 31 2006', '$ 131.8', '$ -161.9 ( 161.9 )', '$ 0.6', '$ -29.5 ( 29.5 )']]
notwithstanding the 2005 distribution pursuant to the jobs act , management 2019s intention is to indefinitely reinvest foreign earnings .therefore , no taxes have been provided on the foreign currency translation component for any period .the change in the minimum pension liability is presented net of related tax expense of $ 2.9 million for 2006 and related tax benefits of $ 27.3 million and $ 20.8 million for 2005 and 2004 , respectively .the change in the effective financial derivatives is presented net of related tax expense of $ 5.7 million for 2006 , related tax benefit of $ 10.7 million for 2005 and related tax benefit of $ 0.2 million for 2004. .

Question: what was the percentage reduction in the share repurchase program , from 2005 to 2006?
Answer: 87.2%