Share Owners' Equity

9 Months Ended

Sep. 30, 2021

Share Owners' Equity

Share Owners' Equity

11. Share Owners’ Equity

The activity in share owners’ equity for the three months ended September 30, 2021 and 2020 is as follows:
​

	Share Owners’ Equity of the Company
									Accumulated
			Capital in						Other		Non-		Total Share
	Common		Excess of		Treasury			Retained	Comprehensive		controlling		Owners'
	Stock		Par Value		Stock		Earnings		Loss		Interests		Equity
Balance on July 1, 2021	$	2	$	3,113		(709)	$	173	$	(2,180)	$	103	$	502
Reissuance of common stock (0.2 million shares)				(1)		4								3
Shares repurchased (0.6 million shares)				(10)										(10)
Stock compensation (0.0 million shares)				3										3
Net earnings								85				6		91
Other comprehensive income (loss)										(18)		(1)		(19)
Balance on September 30, 2021	$	2	$	3,105	$	(705)	$	258	$	(2,198)	$	108	$	570

	Share Owners’ Equity of the Company
									Accumulated
			Capital in				Retained		Other		Non-		Total Share
	Common		Excess of		Treasury		Earnings		Comprehensive		controlling		Owners'
	Stock		Par Value		Stock		(Loss)		Loss		Interests		Equity
Balance on July 1, 2020	$	2	$	3,128	$	(724)	$	(147)	$	(2,308)	$	91	$	42
Reissuance of common stock (0.2 million shares)				(3)		5								2
Stock compensation (0.1 million shares)				3										3
Net earnings								328				7		335
Other comprehensive income (loss)										(117)				(117)
Balance on September 30, 2020	$	2	$	3,128	$	(719)	$	181	$	(2,425)	$	98	$	265

The activity in share owners’ equity for the nine months ended September 30, 2021 and 2020 is as follows:
​

	Share Owners’ Equity of the Company
									Accumulated
			Capital in						Other		Non-		Total Share
	Common		Excess of		Treasury		Retained		Comprehensive		controlling		Owners'
	Stock		Par Value		Stock		Earnings		Loss		Interests		Equity
Balance on January 1, 2021	$	2	$	3,129	$	(714)	$	152	$	(2,272)	$	104	$	401
Issuance of common stock (0.05 million shares)				1										1
Reissuance of common stock (0.3 million shares)				(4)		11								7
Shares repurchased (1.0 million shares)				(30)										(30)
Stock compensation (0.6 million shares)				11										11
Net earnings								106				17		123
Other comprehensive income (loss)										74		(14)		60
Other				(2)		(2)						1		(3)
Balance on September 30, 2021	$	2	$	3,105	$	(705)	$	258	$	(2,198)	$	108	$	570

	Share Owners’ Equity of the Company
									Accumulated
			Capital in					Retained	Other		Non-		Total Share
	Common		Excess of		Treasury		Earnings		Comprehensive		controlling		Owners'
	Stock		Par Value		Stock		(Loss)		Loss		Interests		Equity
Balance on January 1, 2020	$	2	$	3,130	$	(733)	$	(89)	$	(1,843)	$	97	$	564
Reissuance of common stock (0.7 million shares)				(10)		17								7
Stock compensation (0.9 million shares)				8										8
Net earnings								278				11		289
Other comprehensive income (loss)										(582)		(10)		(592)
Dividends declared								(8)						(8)
Other						(3)								(3)
Balance on September 30, 2020	$	2	$	3,128	$	(719)	$	181	$	(2,425)	$	98	$	265

During the three months ended September 30, 2021, the Company purchased 619,666 shares of its common stock for approximately $10 million. The stock purchases were pursuant to a $150 million anti-dilutive share repurchase program authorized by the Company’s Board of Directors that is intended to offset stock-based compensation provided

to the Company’s directors, officers, and employees. Approximately $120 million remained available for purchases under this program as of September 30, 2021.

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)
	September 30,	December 31,	September 30,
	2021	2020	2020
Shares of common stock issued (including treasury shares)	188,426	189,305	189,302
Treasury shares	31,599	31,911	32,136