Note 6 - Stockholders' Equity

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

Note 6. Stockholders’ Equity

Common stock — Our Board of Directors declared a cash dividend of ten cents per share of common stock in the first quarter of 2020. Dividends accrue on restricted stock units (RSUs) granted under our stock compensation program and will be paid in cash or additional units when the underlying units vest.

Share repurchase program — On December 11, 2019 our Board of Directors approved an extension of our existing common stock share repurchase program through December 31, 2021. Approximately $150 remained available for future share repurchases as of March 31, 2020.

Changes in equity —

	Three Months Ended March 31,
2020	Common Stock		Additional Paid-In Capital		Retained Earnings			Treasury Stock			Accumulated Other Comprehensive Loss			Non-controlling Interests			Total Equity
Balance, December 31, 2019	$	2	$	2,386	$	622		$	(150	)	$	(987	)	$	95		$	1,968
Adoption of ASU 2016-13, credit losses, January 1, 2020						(1	)											(1	)
Net income						38									2			40
Other comprehensive loss												(111	)		(19	)		(130	)
Common stock dividends						(15	)											(15	)
Distributions to noncontrolling interests															(1	)		(1	)
Stock compensation				5														5
Stock withheld for employee taxes									(6	)								(6	)
Balance, March 31, 2020	$	2	$	2,391	$	644		$	(156	)	$	(1,098	)	$	77		$	1,860
2019
Balance, December 31, 2018	$	2	$	2,368	$	456		$	(119	)	$	(1,362	)	$	97		$	1,442
Adoption of ASU 2016-02 leases, January 1, 2019						(1	)											(1	)
Net income						98									4			102
Other comprehensive income (loss)												34			(2	)		32
Common stock dividends						(15	)											(15	)
Distributions to noncontrolling interests															(1	)		(1	)
Increase from business combination															7			7
Common stock share repurchases									(25	)								(25	)
Stock compensation				4														4
Stock withheld for employee taxes									(6	)								(6	)
Balance, March 31, 2019	$	2	$	2,372	$	538		$	(150	)	$	(1,328	)	$	105		$	1,539

Changes in each component of accumulated other comprehensive income (AOCI) of the parent —

	Parent Company Stockholders
	Foreign Currency Translation			Hedging			Defined Benefit Plans			Accumulated Other Comprehensive Loss
Balance, December 31, 2019	$	(714	)	$	(30	)	$	(243	)	$	(987	)
Other comprehensive income (loss):
Currency translation adjustments		(143	)								(143	)
Holding gains and losses					39						39
Reclassification of amount to net income (a)					(11	)					(11	)
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								5			5
Tax (expense) benefit					1			(2	)		(1	)
Other comprehensive income (loss)		(143	)		29			3			(111	)
Balance, March 31, 2020	$	(857	)	$	(1	)	$	(240	)	$	(1,098	)
Balance, December 31, 2018	$	(721	)	$	(54	)	$	(587	)	$	(1,362	)
Other comprehensive income (loss):
Currency translation adjustments		24									24
Holding gains and losses					29						29
Reclassification of amount to net income (a)					(24	)					(24	)
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								7			7
Tax expense								(2	)		(2	)
Other comprehensive income		24			5			5			34
Balance, March 31, 2019	$	(697	)	$	(49	)	$	(582	)	$	(1,328	)

(a) Realized gains and losses from currency-related forward contracts associated with forecasted transactions or from other derivative instruments treated as cash flow hedges are reclassified from AOCI into the same line item in the consolidated statement of operations in which the underlying forecasted transaction or other hedged item is recorded. See Note 12 for additional details.

(b) See Note 10 for additional details.