XML 49 R37.htm IDEA: XBRL DOCUMENT
v3.24.2

Total Equity (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Stockholders' Equity Note [Abstract] |
Schedule of Stockholders Equity | A summary of changes in total equity for the three and six months ended June 30, 2024 and the three and six months ended June 30, 2023 is provided below (in millions, except per share amounts):
| Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total Hubbell Shareholders' Equity | Non- controlling interest
BALANCE AT DECEMBER 31, 2023 | $ | 0.6 |  | $ | 6.1 |  | $ | 3,182.7 |  | $ | (312.4) |  | $ | 2,877.0 |  | $ | 12.3 |
Net income | — |  | — |  | 147.8 |  | — |  | 147.8 |  | 1.3 |
Other comprehensive (loss) income | — |  | — |  | — |  | (9.3) |  | (9.3) |  | — |
Stock-based compensation | — |  | 12.8 |  | — |  | — |  | 12.8 |  | — |
Acquisition/surrender of common shares(1) | — |  | (17.6) |  | (14.6) |  | — |  | (32.2) |  | — |
Cash dividends declared ($1.22 per share) | — |  | — |  | (65.7) |  | — |  | (65.7) |  | — |
Dividends to noncontrolling interest | — |  | — |  | — |  | — |  | — |  | (0.9) |
Directors deferred compensation | — |  | — |  | — |  | — |  | — |  | — |
BALANCE AT MARCH 31, 2024 | $ | 0.6 |  | $ | 1.3 |  | $ | 3,250.2 |  | $ | (321.7) |  | $ | 2,930.4 |  | $ | 12.7 |
Net income | — |  | — |  | 213.6 |  | — |  | 213.6 |  | 1.6 |
Other comprehensive (loss) income | — |  | — |  | — |  | (17.3) |  | (17.3) |  | — |
Stock-based compensation | — |  | 6.1 |  | — |  | — |  | 6.1 |  | — |
Acquisition/surrender of common shares(1) | — |  | (5.5) |  | (9.3) |  | — |  | (14.8) |  | — |
Cash dividends declared ($1.22 per share) | — |  | — |  | (65.6) |  | — |  | (65.6) |  | — |
Dividends to noncontrolling interest | — |  | — |  | — |  | — |  | — |  | (0.6) |
Directors deferred compensation | — |  | 0.2 |  | — |  | — |  | 0.2 |  | — |
BALANCE AT JUNE 30, 2024 | $ | 0.6 |  | $ | 2.1 |  | $ | 3,388.9 |  | $ | (339.0) |  | $ | 3,052.6 |  | $ | 13.7 |
| Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total Hubbell Shareholders' Equity | Non- controlling interest
BALANCE AT DECEMBER 31, 2022 | $ | 0.6 |  | $ | — |  | $ | 2,705.5 |  | $ | (345.2) |  | $ | 2,360.9 |  | $ | 9.7 |
Net income | — |  | — |  | 181.9 |  | — |  | 181.9 |  | 1.5 |
Other comprehensive (loss) income | — |  | — |  | — |  | 9.3 |  | 9.3 |  | — |
Stock-based compensation | — |  | 11.7 |  | — |  | — |  | 11.7 |  | — |
Acquisition/surrender of common shares(1) | — |  | (9.9) |  | (21.2) |  | — |  | (31.1) |  | — |
Cash dividends declared ($1.12 per share) | — |  | — |  | (60.0) |  | — |  | (60.0) |  | — |
Dividends to noncontrolling interest | — |  | — |  | — |  | — |  | — |  | (0.8) |
Directors deferred compensation | — |  | — |  | — |  | — |  | — |  | — |
BALANCE AT MARCH 31, 2023 | $ | 0.6 |  | $ | 1.8 |  | $ | 2,806.2 |  | $ | (335.9) |  | $ | 2,472.7 |  | $ | 10.4 |
Net income | — |  | — |  | 206.8 |  | — |  | 206.8 |  | 1.4 |
Other comprehensive (loss) income | — |  | — |  | — |  | 6.5 |  | 6.5 |  | — |
Stock-based compensation | — |  | 4.4 |  | — |  | — |  | 4.4 |  | — |
Acquisition/surrender of common shares(1) | — |  | (6.4) |  | (3.3) |  | — |  | (9.7) |  | — |
Cash dividends declared ($1.12 per share) | — |  | — |  | (60.2) |  | — |  | (60.2) |  | — |
Dividends to noncontrolling interest | — |  | — |  | — |  | — |  | — |  | (1.4) |
Directors deferred compensation | — |  | 0.2 |  | — |  | — |  | 0.2 |  | — |
BALANCE AT JUNE 30, 2023 | $ | 0.6 |  | $ | — |  | $ | 2,949.5 |  | $ | (329.4) |  | $ | 2,620.7 |  | $ | 10.4 |
(1) For accounting purposes, the Company treats repurchased shares as constructively retired when acquired and accordingly charges the purchase price against common stock par value, Additional paid-in capital, to the extent available, and Retained earnings. The change in Retained earnings of $23.9 million and $24.5 million in the first six months of 2024 and 2023, respectively, reflects this accounting treatment.

X
- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration