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Stockholders' equity | 9 Months Ended
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Sep. 30, 2019
Stockholders' Equity Note |
Stockholders' Equity | Note 19 – Stockholders’ equity As of September 30, 2019, stockholder’s equity totaled $5.9 billion. During the nine months ended September 30, 2019, the Corporation declared cash dividends on its common stock of $ 87.0 million (September 30, 2018 - $76.2 million). The quarterly dividend declared to shareholders of record as of the close of business on August 30, 2019, which amounted to $29.0 million, was paid on October 1, 2019 . Dividends per share declared for the quarter and nine months ended September 30, 2019 were $0.30 and $0.90, respectively (2018 - $0.25 and $0.75, respectively). During the quarter ended September 30, 2018, the Corporation entered into a $125 million accelerated share repurchase transaction (“ASR”) and, in connection therewith, received an initial delivery of 2,000,000 shares of common stock (the “Initial Shares”), which was accounted for as a treasury stock transaction. As a result of the receipt of the Initial Shares, the Corporation recognized in shareholders’ equity approximately $102 million in treasury stock and $23 million as a reduction of capital surplus. The Corporation completed the ASR during the fourth quarter of 2018 and received 438,180 additional shares of common stock. The final number of shares delivered at settlement was based on the average daily volume weighted average price (“VWAP”) of its common stock, net of a discount, during the term of the ASR of $51.27. On February 28, 2019, the Corporation entered into a $250 million “ASR” transaction with respect to its common stock, which was accounted for as a treasury stock transaction. As a result of the receipt of the initial shares, the Corporation recognized in shareholders’ equity approximately $200 million in treasury stock and $50 million as a reduction in capital surplus. The Corporation expects to further adjust its treasury stock and capital surplus accounts to reflect the delivery or receipt of cash or shares upon the termination of the ASR agreement, which will depend on the average price of the Corporation’s shares during the term of the ASR.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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