Share Owners' Equity

9 Months Ended

Sep. 30, 2024

Share Owners' Equity

Share Owners' Equity

11. Share Owners’ Equity

The activity in share owners’ equity for the three months ended September 30, 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 July 1, 2024	$	2	$	3,069		(685)	$	911	$	(1,794)	$	128	$	1,631
Reissuance of common stock (0.2 million shares)				(2)		4								2
Shares repurchased (0.9 million shares)				(10)										(10)
Stock compensation (0.0 million shares)				3										3
Net earnings (loss)								(80)				4		(76)
Other comprehensive income (loss)										(69)		1		(68)
Balance on September 30, 2024	$	2	$	3,060	$	(681)	$	830	$	(1,863)	$	133	$	1,481

	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, 2023	$	2	$	3,093	$	(687)	$	1,201	$	(1,587)	$	121	$	2,143
Reissuance of common stock (0.1 million shares)						2								2
Shares repurchased (0.5 million shares)				(10)										(10)
Stock compensation (0.0 million shares)				7										7
Net earnings								51				5		56
Other comprehensive income (loss)										(86)		1		(85)
Balance on September 30, 2023	$	2	$	3,090	$	(685)	$	1,252	$	(1,673)	$	127	$	2,113

The activity in share owners’ equity for the nine months ended September 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)				(5)		14								9
Shares repurchased (2.2 million shares)				(30)										(30)
Stock compensation (1.9 million shares)				9										9
Net earnings								48				13		61
Other comprehensive loss										(283)		(6)		(289)
Distributions to non-controlling interests												(9)		(9)
Other						(14)								(14)
Balance on September 30, 2024	$	2	$	3,060	$	(681)	$	830	$	(1,863)	$	133	$	1,481

	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 (0.4 million shares)						9								9
Shares repurchased (1.4 million shares)				(30)										(30)
Stock compensation (0.7 million shares)				36										36
Net earnings								367				12		379
Other comprehensive income										188		7		195
Distributions to non-controlling interests												(3)		(3)
Other						(6)								(6)
Balance on September 30, 2023	$	2	$	3,090	$	(685)	$	1,252	$	(1,673)	$	127	$	2,113

During the three months ended September 30, 2024, the Company purchased 926,757 shares of its common stock for approximately $10 million. The share purchases were made pursuant to a $100 million anti-dilutive share repurchase program authorized by the Company’s Board of Directors on May 14, 2024, which 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 September 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)
	September 30,	December 31,	September 30,
	2024	2023	2023
Shares of common stock issued (including treasury shares)	185,610	185,009	185,632
Treasury shares	30,963	30,755	30,905