XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.24.2

Total Equity | 6 Months Ended
--- | ---
Jun. 30, 2024
Stockholders' Equity Note [Abstract] |
Total Equity | Total 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. The detailed components of total comprehensive income are presented in the Condensed Consolidated Statements of Comprehensive Income.

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

X
- Definition The entire disclosure for equity. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478448/946-505-50-6 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-6 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-14 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-16 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-18 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration