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Capital Stock | 12 Months Ended
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Dec. 31, 2024
Class of Stock Disclosures [Abstract] |
Capital Stock | Capital Stock Class A and B common stock We have two classes of common stock: Class A, which has a dividend preference, and Class B, which has voting power and a conversion right. Each share of Class A common stock outstanding at the time of the declaration of any dividend upon shares of Class B common stock shall be entitled to a dividend payable at the same time, at the same record date, and in an amount at least equal to 2/3 of 1.0% of any dividend declared on each share of Class B common stock. We may declare and pay a dividend in respect to Class A common stock without any requirement that any dividend be declared and paid in respect to Class B common stock. Sole shareholder voting power is vested in Class B common stock except insofar as any applicable law shall permit Class A common shareholders to vote as a class in regards to any changes in the rights, preferences, and privileges attaching to Class A common stock. Holders of Class B shares may, at their option, convert their shares into Class A shares at the rate of 2,400 Class A shares per Class B share. There were no shares of Class B common stock converted into Class A common stock in 2024, 2023 or 2022. Stock repurchases Our Board of Directors authorized a stock repurchase program effective January 1, 1999 allowing the repurchase of our outstanding Class A nonvoting common stock. In 2011, our Board of Directors approved a continuation of the current stock repurchase program for a total of $150 million, with no time limitation. Treasury shares are recorded in the Consolidated Statements of Financial Position at total cost based upon trade date. There were no shares repurchased under this program during 2024, 2023 or 2022. We had approximately $17.8 million of repurchase authority remaining under this program at December 31, 2024, based upon trade date. We made stock repurchases in 2024, 2023, and 2022 outside of our publicly announced share repurchase program related to stock-based awards. See Note 11, "Incentive and Deferred Compensation Plans" for additional information.

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- Definition The entire disclosure of an entity's stock (includes common, convertible, and preferred stocks), including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock including , and, the entire disclosure for an entity's treasury stock, including the average cost per share, carrying basis for each class of treasury stock, description of share repurchase program authorized by an entity's board of directors, the number of shares repurchased, the cost of the shares repurchased, the remaining maximum dollar value of shares available for repurchase under the program, the treatment of the purchase price in excess of the current market value, number of shares held for each class of treasury stock and other information necessary to a fair presentation, and EPS information. + References No definition available. + Details
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