Share Owners' Equity

6 Months Ended

Jun. 30, 2023

Share Owners' Equity

Share Owners' Equity

11. Share Owners’ Equity

The activity in share owners’ equity for the three months ended June 30, 2023 and 2022 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, 2023	$	2	$	3,093		(690)	$	1,091	$	(1,727)	$	118	$	1,887
Reissuance of common stock (0.1 million shares)						3								3
Shares repurchased (0.4 million shares)				(10)										(10)
Stock compensation (0.2 million shares)				10										10
Net earnings								110				3		113
Other comprehensive income										140		3		143
Distributions to non-controlling interests												(3)		(3)
Balance on June 30, 2023	$	2	$	3,093	$	(687)	$	1,201	$	(1,587)	$	121	$	2,143

	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)
Distributions to non-controlling interests												(26)		(26)
Balance on June 30, 2022	$	2	$	3,085	$	(695)	$	641	$	(1,890)	$	116	$	1,259

The activity in share owners’ equity for the six months ended June 30, 2023 and 2022 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, 2023	$	2	$	3,079	$	(688)	$	885	$	(1,861)	$	111	$	1,528
Issuance of common stock (0.4 million shares)				5										5
Reissuance of common stock (0.3 million shares)						7								7
Shares repurchased (1.0 million shares)				(20)										(20)
Stock compensation (0.7 million shares)				29										29
Net earnings								316				7		323
Other comprehensive income										274		6		280
Distributions to non-controlling interests												(3)		(3)
Other						(6)								(6)
Balance on June 30, 2023	$	2	$	3,093	$	(687)	$	1,201	$	(1,587)	$	121	$	2,143

	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 non-controlling interests												(26)		(26)
Other						(3)								(3)
Balance on June 30, 2022	$	2	$	3,085	$	(695)	$	641	$	(1,890)	$	116	$	1,259

During the three months ended June 30, 2023, the Company purchased 444,752 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 $50 million remained available for purchases under this program as of June 30, 2023.

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,
	2023	2022	2022
Shares of common stock issued (including treasury shares)	186,084	185,568	186,936
Treasury shares	31,024	30,880	31,220