Share Owners' Equity

3 Months Ended

Mar. 31, 2016

Share Owners' Equity

Share Owners' Equity

10.  Share Owners’ Equity

The activity in share owners’ equity for the three months ended March 31, 2016 and 2015 is as follows:

	Share Owners’ Equity of the Company
									Accumulated
			Capital in						Other		Non-
	Common		Excess of		Treasury		Retained		Comprehensive		controlling		Total Share
	Stock		Par Value		Stock		Loss		Loss		Interests		Owners' Equity
Balance on January 1, 2016	$	2	$	3,064	$	(573)	$	(305)	$	(2,017)	$	108	$	279
Issuance of common stock  (503,410 shares)				5										5
Reissuance of common stock  (134,602 shares)						4								4
Stock compensation				5										5
Net earnings								67				6		73
Other comprehensive income										46		4		50
Balance on March 31, 2016	$	2	$	3,074	$	(569)	$	(238)	$	(1,971)	$	118	$	416

	Share Owners’ Equity of the Company
									Accumulated
			Capital in						Other		Non-
	Common		Excess of		Treasury		Retained		Comprehensive		controlling		Total Share
	Stock		Par Value		Stock		Loss		Loss		Interests		Owners' Equity
Balance on January 1, 2015	$	2	$	3,066	$	(480)	$	(440)	$	(1,494)	$	117	$	771
Issuance of common stock  (32,179 shares)														—
Reissuance of common stock  (57,459 shares)						2								2
Treasury shares purchased  (3,509,496 shares)						(100)								(100)
Stock compensation				8										8
Net earnings								71				4		75
Other comprehensive loss										(216)		(4)		(220)
Acquisitions of noncontrolling interests				(18)								6		(12)
Balance on March 31, 2015	$	2	$	3,056	$	(578)	$	(369)	$	(1,710)	$	123	$	524

On February 4, 2015, the Company entered into an accelerated share repurchase agreement (“ASR”) with J.P. Morgan Securities LLC (the “ASR Counterparty”) to repurchase $100 million of its common stock. The Company advanced $100 million to the ASR Counterparty on February 5, 2015, and received 3,509,496 shares, which represented eighty five percent of the total shares as calculated using the closing price on February 4, 2015.  The remaining share settlement was received from the ASR Counterparty in the amount of 599,760 shares and was completed on May 26, 2015 based on the daily volume-weighted average price of the Company’s common stock during the term of the ASR. Under the terms of the ASR program, the ASR Counterparty was permitted, in accordance with the applicable requirements of the federal securities laws, to separately trade in the Company’s shares.

The Company has 250,000,000 shares of common stock authorized with a par value of $.01 per share. Shares outstanding are as follows:

	Shares Outstanding (in thousands)
	March 31,	December 31,	March 31,
	2016	2015	2015
Shares of common stock issued (including treasury shares)	185,303	184,481	184,421
Treasury shares	23,384	23,519	23,170