Note 7 - Stockholders' Equity

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Equity [Text Block]

Note 7.  Stockholders' Equity

Preferred Stock

We are authorized to issue 50,000,000 shares of Dana preferred stock, par value $0.01 per share. There were no preferred shares outstanding at December 31, 2024 or 2023.

Common Stock

We are authorized to issue 450,000,000 shares of Dana common stock, par value $0.01 per share. At  December 31, 2024, there were 145,831,417 shares of our common stock issued and 144,993,614 shares outstanding, net of 837,803 in treasury shares. Treasury shares include those shares withheld at cost to satisfy tax obligations from stock awards issued under our stock compensation plan in addition to shares repurchased through share repurchase programs.

Our Board of Directors declared a cash dividend of ten cents per share of common stock in all four quarters of 2024. Aggregate 2024 cash dividends paid totaled $58. 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.

Treasury stock — On December 17, 2022, we retired 13,477,933 shares of treasury stock. The $216 excess of the cost of the treasury stock over the common stock par value, based on the weighted-average pool price of our treasury shares at the date of retirement, was charged to additional paid-in capital.

Changes in each component of AOCI of the parent —

	Parent Company Stockholders
										Accumulated
	Foreign						Defined			Other
	Currency						Benefit			Comprehensive
	Translation			Hedging			Plans			Loss
Balance, December 31, 2021	$	(809	)	$	4		$	(180	)	$	(985	)
Other comprehensive income (loss):
Currency translation adjustments		(88	)								(88	)
Holding gains and losses					76						76
Reclassification of amount to net income (a)					(56	)					(56	)
Net actuarial gains								62			62
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								11			11
Tax benefit (expense)		2			(3	)		(20	)		(21	)
Other comprehensive income (loss)		(86	)		17			53			(16	)
Balance, December 31, 2022		(895	)		21			(127	)		(1,001	)
Other comprehensive income (loss):
Currency translation adjustments		27									27
Holding gains and losses					22						22
Reclassification of amount to net income (a)					(23	)					(23	)
Net actuarial losses								(25	)		(25	)
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								3			3
Tax benefit								7			7
Other comprehensive income (loss)		27			(1	)		(15	)		11
Balance, December 31, 2023		(868	)		20			(142	)		(990	)
Other comprehensive income (loss):
Currency translation adjustments		(110	)								(110	)
Holding gains and losses					(28	)					(28	)
Reclassification of amount to net income (a)					(31	)					(31	)
Net actuarial gains								4			4
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								6			6
Tax benefit (expense)		1			10			(4	)		7
Other comprehensive income (loss)		(109	)		(49	)		6			(152	)
Balance, December 31, 2024	$	(977	)	$	(29	)	$	(136	)	$	(1,142	)

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Notes:

(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 11 for additional details.