Share Owners' Equity

3 Months Ended

Mar. 31, 2024

Share Owners' Equity

Share Owners' Equity

11. Share Owners’ Equity

The activity in share owners’ equity for the three months ended March 31, 2024 and 2023 is as follows:
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	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, 2024	$	2	$	3,086		(681)	$	782	$	(1,580)	$	135	$	1,744
Reissuance of common stock (0.2 million shares)				(2)		5								3
Shares repurchased (0.6 million shares)				(10)										(10)
Stock compensation (1.9 million shares)				7										7
Net earnings								72				4		76
Other comprehensive income (loss)										20				20
Other						(14)								(14)
Balance on March 31, 2024	$	2	$	3,081	$	(690)	$	854	$	(1,560)	$	139	$	1,826

	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 (0.2 million shares)						4								4
Shares repurchased (0.5 million shares)				(10)										(10)
Stock compensation (0.5 million shares)				19										19
Net earnings								206				4		210
Other comprehensive income										134		3		137
Other						(6)								(6)
Balance on March 31, 2023	$	2	$	3,093	$	(690)	$	1,091	$	(1,727)	$	118	$	1,887

During the three months ended March 31, 2024, the Company purchased 638,506 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 $20 million remained available for purchases under this program as of March 31, 2024.

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,
	2024	2023	2023
Shares of common stock issued (including treasury shares)	187,083	185,009	186,417
Treasury shares	31,361	30,755	31,143