Share Owners' Equity

9 Months Ended

Sep. 30, 2022

Share Owners' Equity

Share Owners' Equity

11. Share Owners’ Equity

The activity in share owners’ equity for the three months ended September 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 July 1, 2022	$	2	$	3,085		(695)	$	641	$	(1,890)	$	116	$	1,259
Reissuance of common stock (0.2 million shares)				(2)		4								2
Shares repurchased (0.8 million shares)				(10)										(10)
Stock compensation (0.0 million shares)				10										10
Net earnings								231				4		235
Other comprehensive loss										(37)		(7)		(44)
Distribution to noncontrolling interests												(1)		(1)
Balance on September 30, 2022	$	2	$	3,083	$	(691)	$	872	$	(1,927)	$	112	$	1,451

	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 loss										(18)		(1)		(19)
Balance on September 30, 2021	$	2	$	3,105	$	(705)	$	258	$	(2,198)	$	108	$	570

The activity in share owners’ equity for the nine months ended September 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 (0.6 million shares)				(5)		13								8
Shares repurchased (2.3 million shares)				(30)										(30)
Stock compensation (0.5 million shares)				28										28
Net earnings								571				41		612
Other comprehensive income (loss)										45		(9)		36
Distributions to noncontrolling interests												(27)		(27)
Other						(3)								(3)
Balance on September 30, 2022	$	2	$	3,083	$	(691)	$	872	$	(1,927)	$	112	$	1,451

	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 (1.7 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

During the three months ended September 30, 2022, the Company purchased 768,984 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 $80 million remained available for purchases under this program as of September 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)
	September 30,	December 31,	September 30,
	2022	2021	2021
Shares of common stock issued (including treasury shares)	186,180	187,752	188,426
Treasury shares	31,042	31,397	31,599