Note 6 - Stockholders' Equity

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

Common stock — Our Board of Directors declared a cash dividend of ten cents per share of common stock in the first quarter of 2021. 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 February 16, 2021 our Board of Directors approved an extension of our existing common stock share repurchase program through December 31, 2023. Approximately $150 remained available for future share repurchases as of March 31, 2021.

Changes in equity —

	Three Months Ended March 31,
2021	Common Stock		Additional Paid-In Capital		Retained Earnings			Treasury Stock			Accumulated Other Comprehensive Loss			Non-controlling Interests			Total Equity
Balance, December 31, 2020	$	2	$	2,408	$	530		$	(156	)	$	(1,026	)	$	76		$	1,834
Net income						71									1			72
Other comprehensive income												(18	)		(2	)		(20	)
Common stock dividends						(14	)											(14	)
Redeemable noncontrolling interests adjustment to redemption value						(4	)											(4	)
Stock compensation				7														7
Stock withheld for employee taxes									(5	)								(5	)
Balance, March 31, 2021	$	2	$	2,415	$	583		$	(161	)	$	(1,044	)	$	75		$	1,870
2020
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						58									2			60
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	$	664		$	(156	)	$	(1,098	)	$	77		$	1,880

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

	Parent Company Stockholders
	Foreign Currency Translation			Hedging			Defined Benefit Plans			Accumulated Other Comprehensive Loss
Balance, December 31, 2020	$	(802	)	$	9		$	(233	)	$	(1,026	)
Other comprehensive income (loss):
Currency translation adjustments		(4	)								(4	)
Holding gains and losses					32						32
Reclassification of amount to net income (a)					(50	)					(50	)
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								4			4
Tax (expense) benefit					1			(1	)		—
Other comprehensive income (loss)		(4	)		(17	)		3			(18	)
Balance, March 31, 2021	$	(806	)	$	(8	)	$	(230	)	$	(1,044	)
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	)

(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 13 for additional details.

(b) See Note 10 for additional details.