Share Owners' Equity

9 Months Ended

Sep. 30, 2012

Share Owners' Equity

Share Owners' Equity

5.  Share Owners’ Equity

The activity in share owners’ equity for the three months ended September 30, 2012 and 2011 is as follows:

	Share Owners’ Equity of the Company
	Common Stock		Capital in Excess of Par Value			Treasury Stock			Retained Loss			Accumulated Other Comprehensive Loss			Non- controlling Interests			Total Share Owners’ Equity
Balance on July 1, 2012	$	2	$	3,000		$	(402	)	$	(125	)	$	(1,373	)	$	142		$	1,244
Issuance of common stock (0.1 million shares)			1															1
Reissuance of common stock (0.1 million shares)			(1		)	3												2
Treasury shares purchased (0.7 million shares)						(14		)										(14		)
Stock compensation			2															2
Comprehensive income (loss):
Net earnings									90						7			97
Foreign currency translation adjustments												84			2			86
Pension and other postretirement benefit adjustments, net of tax												16						16
Change in fair value of derivative instruments, net of tax												3						3
Dividends paid to noncontrolling interests on subsidiary common stock															(1		)	(1		)
Balance on September 30, 2012	$	2	$	3,002		$	(413	)	$	(35	)	$	(1,270	)	$	150		$	1,436

	Share Owners’ Equity of the Company
	Common Stock		Capital in Excess of Par Value			Treasury Stock			Retained Earnings		Accumulated Other Comprehensive Loss			Non- controlling Interests			Total Share Owners’ Equity
Balance on July 1, 2011	$	2	$	2,986		$	(410	)	$	276	$	(672	)	$	157		$	2,339
Issuance of common stock (0.1 million shares)			2														2
Reissuance of common stock (0.1 million shares)			(1		)	2											1
Stock compensation			3														3
Comprehensive income:
Net earnings									116					4			120
Foreign currency translation adjustments											(352		)	(6		)	(358		)
Pension and other postretirement benefit adjustments, net of tax											39						39
Change in fair value of derivative instruments, net of tax											(2		)				(2		)
Dividends paid to noncontrolling interests on subsidiary common stock														(1		)	(1		)
Balance on September 30, 2011	$	2	$	2,990		$	(408	)	$	392	$	(987	)	$	154		$	2,143

The activity in share owners’ equity for the nine months ended September 30, 2012 and 2011 is as follows:

	Share Owners’ Equity of the Company
	Common Stock		Capital in Excess of Par Value			Treasury Stock			Retained Loss			Accumulated Other Comprehensive Loss			Non- controlling Interests			Total Share Owners’ Equity
Balance on January 1, 2012	$	2	$	2,991		$	(405	)	$	(379	)	$	(1,321	)	$	153		$	1,041
Issuance of common stock (0.2 million shares)			3															3
Reissuance of common stock (0.2 million shares)			(1		)	6												5
Treasury shares purchased (0.7 million shares)						(14		)										(14		)
Stock compensation			9															9
Comprehensive income:
Net earnings									344						15			359
Foreign currency translation adjustments												(28		)	6			(22		)
Pension and other postretirement benefit adjustments, net of tax												73						73
Change in fair value of derivative instruments, net of tax												6						6
Dividends paid to noncontrolling interests on subsidiary common stock															(24		)	(24		)
Balance on September 30, 2012	$	2	$	3,002		$	(413	)	$	(35	)	$	(1,270	)	$	150		$	1,436

	Share Owners’ Equity of the Company
	Common Stock		Capital in Excess of Par Value			Treasury Stock			Retained Earnings		Accumulated Other Comprehensive Loss			Non- controlling Interests			Total Share Owners’ Equity
Balance on January 1, 2011	$	2	$	3,040		$	(412	)	$	121	$	(897	)	$	211		$	2,065
Issuance of common stock (0.3 million shares)			5														5
Reissuance of common stock (0.2 million shares)						4											4
Stock compensation			(1		)												(1		)
Comprehensive income:
Net earnings									271					15			286
Foreign currency translation adjustments											(165		)	3			(162		)
Pension and other postretirement benefit adjustments, net of tax											85						85
Change in fair value of derivative instruments, net of tax											(1		)				(1		)
Acquisition of noncontrolling interest			(54		)						(9		)	(43		)	(106		)
Dividends paid to noncontrolling interests on subsidiary common stock														(32		)	(32		)
Balance on September 30, 2011	$	2	$	2,990		$	(408	)	$	392	$	(987	)	$	154		$	2,143

During the three months and nine months ended September 30, 2012, the Company purchased 700,000 shares of its common stock for $14 million pursuant to authorization by its Board of Directors in August 2012 to purchase up to $75 million of the Company’s common stock.