Share Owners' Equity

6 Months Ended

Jun. 30, 2024

Share Owners' Equity

Share Owners' Equity

11. Share Owners’ Equity

The activity in share owners’ equity for the three months ended June 30, 2024 and 2023 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, 2024	$	2	$	3,081		(690)	$	854	$	(1,560)	$	139	$	1,826
Reissuance of common stock (0.2 million shares)				(1)		5								4
Shares repurchased (0.6 million shares)				(10)										(10)
Stock compensation (1.9 million shares)				(1)										(1)
Net earnings								57				5		62
Other comprehensive loss										(234)		(7)		(241)
Distributions to non-controlling interests												(9)		(9)
Balance on June 30, 2024	$	2	$	3,069	$	(685)	$	911	$	(1,794)	$	128	$	1,631

	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 (0.2 million shares)						3								3
Shares repurchased (0.7 million shares)				(10)										(10)
Stock compensation (0.0 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

The activity in share owners’ equity for the six months ended June 30, 2024 and 2023 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, 2024	$	2	$	3,086	$	(681)	$	782	$	(1,580)	$	135	$	1,744
Reissuance of common stock (0.4 million shares)				(3)		10								7
Shares repurchased (1.3 million shares)				(20)										(20)
Stock compensation (1.9 million shares)				6										6
Net earnings								129				9		138
Other comprehensive loss										(214)		(7)		(221)
Distributions to non-controlling interests												(9)		(9)
Other						(14)								(14)
Balance on June 30, 2024	$	2	$	3,069	$	(685)	$	911	$	(1,794)	$	128	$	1,631

	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

During the three months ended June 30, 2024, the Company purchased 619,217 shares of its common stock for approximately $10 million. The share purchases were all made in April 2024 pursuant to a $150 million anti-dilutive share repurchase program authorized by the Company’s Board of Directors on February 9, 2021. On May 14, 2024, the Company’s Board of Directors authorized a new $100 million anti-dilutive share repurchase program, which supersedes and replaces the prior share repurchase program and is intended to offset stock-based compensation provided to the Company’s directors, officers, and employees. No purchases were made under the new share repurchase program during the three months ended June 30, 2024, and $100 million remained available for purchases under this program as of June 30, 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)
	June 30,	December 31,	June 30,
	2024	2023	2023
Shares of common stock issued (including treasury shares)	186,533	185,009	186,084
Treasury shares	31,169	30,755	31,024