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Share Owners' Equity
6 Months Ended
Jun. 30, 2022
Share Owners' Equity  
Share Owners' Equity

11. Share Owners’ Equity

The activity in share owners’ equity for the three months ended June 30, 2022 and 2021 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 April 1, 2022

$

2

$

3,085

(699)

$

389

$

(1,821)

$

146

$

1,102

Reissuance of common stock (0.2 million shares)

(1)

4

 

3

Shares repurchased (0.8 million shares)

(10)

 

(10)

Stock compensation (0.1 million shares)

11

 

11

Net earnings

252

4

 

256

Other comprehensive loss

(69)

(8)

 

(77)

Distribution to noncontrolling interests

(26)

 

(26)

Balance on June 30, 2022

$

2

$

3,085

$

(695)

$

641

$

(1,890)

$

116

$

1,259

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 April 1, 2021

$

2

$

3,131

$

(712)

$

55

$

(2,320)

$

106

$

262

Issuance of common stock (0.05 million shares)

1

1

Reissuance of common stock (0.1 million shares)

(1)

3

 

2

Shared repurchased (1.0 million shares)

(20)

(20)

Stock compensation (0.3 million shares)

4

 

4

Net earnings

118

5

 

123

Other comprehensive income

140

2

 

142

Distributions to noncontrolling interests

(10)

(10)

Other

(2)

(2)

Balance on June 30, 2021

$

2

$

3,113

$

(709)

$

173

$

(2,180)

$

103

$

502

The activity in share owners’ equity for the six months ended June 30, 2022 and 2021 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, 2022

$

2

$

3,090

$

(701)

$

301

$

(1,972)

$

107

$

827

Reissuance of common stock (0.4 million shares)

(3)

9

6

Shares repurchased (1.5 million shares)

(20)

(20)

Stock compensation (0.5 million shares)

18

18

Net earnings

340

38

378

Other comprehensive income (loss)

82

(3)

79

Distributions to noncontrolling interests

(26)

(26)

Other

(3)

(3)

Balance on June 30, 2022

$

2

$

3,085

$

(695)

$

641

$

(1,890)

$

116

$

1,259

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, 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)

(3)

7

 

4

Shares repurchased (1.0 million shares)

(20)

(20)

Stock compensation (0.6 million shares)

8

 

8

Net earnings

21

12

 

33

Other comprehensive income (loss)

92

(4)

 

88

Distributions to noncontrolling interests

(10)

(10)

Other

(2)

(2)

1

(3)

Balance on June 30, 2021

$

2

$

3,113

$

(709)

$

173

$

(2,180)

$

103

$

502

During the three months ended June 30, 2022 the Company purchased 770,710 shares of its common stock for approximately $10 million. The share 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 $90 million remained available for purchases under this program as of June 30, 2022.

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)

 

June 30,

December 31,

June 30,

 

    

2022

    

2021

    

2021

 

Shares of common stock issued (including treasury shares)

 

186,936

187,752

189,029

Treasury shares

 

31,220

31,397

31,745