From time to time, the Company’s board of directors has authorized repurchase programs for shares of the Company’s common stock. As of March 31, 2020, there were no remaining authorizations outstanding under these programs. There were 81,993,613 shares of common stock outstanding as of March 31, 2020.


The following table summarizes the share repurchase activity:

	Three Months Ended
	March 31,		March 31,
	2020		2019
Number of shares acquired on the open market		-		1,758,537
Average price per share	$	-	$	14.24
Total cost of acquired shares (in millions)	$	-	$	25

Our 2011 Omnibus Incentive Plan originally had 3,250,000 shares reserved for issuance under the plan. In both April 2015 and 2019, our shareholders approved an additional 4,250,000 and 2,500,000 shares, respectively, for reservation for issuance under the plan. The plan permits the issuance of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units and other stock-based and cash-based awards. Since the adoption of the 2011 Omnibus Incentive Plan, the Company’s Board of Directors has periodically granted stock options, restricted stock awards, restricted stock units and performance share units to directors and employees, but no other types of awards have been granted under the plan. Options and stock appreciation rights may not be granted at prices less than the fair market value of our common stock on the date of the grant, nor for a term exceeding ten years. For employees, vesting generally occurs over a three year to five year period on the anniversaries of the date specified in the employees’ respective agreements, subject to accelerated vesting under certain circumstances set forth in the agreements. Vesting for directors generally occurs on the one year anniversary of the grant date. In 2020, 336,325 performance share unit awards and 696,777 shares of restricted stock units have been granted to

employees. To date, 8,744,461 shares have been granted under this plan. A Black-Scholes option-pricing model is used to estimate the fair value of the stock options. A Monte Carlo simulation is completed to estimate the fair value of performance share unit awards with a stock price performance component. We expense the fair value of all equity grants, including performance share unit awards, on a straight-line basis over the vesting period.

Accumulated other comprehensive loss in the accompanying consolidated balance sheets consists of the following (in millions):



	March 31,		December 31,
	2020		2019
Foreign currency translation adjustments	$	(245)	$	(224)
Hedge accounting adjustments		(13)		(7)
Pension related adjustments		(1)		(1)
Accumulated other comprehensive loss	$	(259)	$	(232)

Earnings per share are calculated in the table below (in millions, except per share amounts):



	Three Months Ended
	March 31,		March 31,
	2020		2019
Net income	$	9	$	18
Less: Dividends on Series A Preferred Stock		6		6
Net income attributable to common stockholders	$	3	$	12

Weighted average basic shares outstanding		81.7		84.3
Effect of dilutive securities		0.7		1.0
Weighted average diluted shares outstanding		82.4		85.3

Net income per share:
Basic	$	0.04	$	0.14
Diluted	$	0.04	$	0.14