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Shareholders' Equity
 9 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Shareholders' Equity

NOTE 17. SHAREHOLDERS’ EQUITY

Common Stock Repurchase Plan

On July 29, 2016, our Board of Directors approved our share repurchase program authorizing us to repurchase up to $150.0 million of our outstanding shares of common stock (the “Program”). Since inception of the Program, this authorization has been increased to permit repurchase up to an aggregate of $1,700.0 million of our outstanding shares of common stock through December 31, 2026. We had $582.8 million remaining under the Board’s repurchase authorization as of September 30, 2025.

Repurchases of our common stock under the Program may be made through open market, block and privately negotiated transactions, including Rule 10b5-1 plans, at such times and in such amounts as management deems appropriate, subject to market and business conditions, regulatory requirements and other factors. The Program does not obligate AWI to repurchase any particular amount of common stock and may be suspended or discontinued at any time without notice.

During the three months ended September 30, 2025, we repurchased 0.1 million shares under the Program for a total cost of $27.0 million, excluding commissions and taxes, or an average price of $181.19 per share. During the nine months ended September 30, 2025, we repurchased 0.5 million shares under the Program for a total cost of $79.0 million, excluding commissions and taxes, or an average price of $156.22 per share. Since inception and through September 30, 2025, we have repurchased 15.1 million shares under the Program for a total cost of $1,117.2 million, excluding commissions and taxes, or an average price of $73.74 per share.

Dividends

In February, April and July 2025, our Board of Directors declared $0.308 per share quarterly dividends, which were paid to shareholders in March, May and August 2025, respectively. On October 22, 2025, our Board of Directors declared a $0.339 per share quarterly dividend to be paid in November 2025.

Accumulated Other Comprehensive (Loss)

 

 

Foreign
Currency
Translation Adjustments (1)

 

 

Derivative
 (Loss) Gain (1) (2)

 

 

Pension and Postretirement Adjustments (1)

 

 

Total
Accumulated
Other
Comprehensive
(Loss) (1) (2)

 

Balance, June 30, 2025

 

$

(0.4

)

 

$

(2.9

)

 

$

(105.6

)

 

$

(108.9

)

Other comprehensive (loss) income before reclassifications,
   net of tax benefit (expense) of $0.2, $(0.1), $- and $0.1

 

 

(0.9

)

 

 

0.1

 

 

 

-

 

 

 

(0.8

)

Amounts reclassified from accumulated other
   comprehensive (loss)

 

 

-

 

 

 

(0.1

)

 

 

0.6

 

 

 

0.5

 

Net current period other comprehensive (loss) income

 

 

(0.9

)

 

 

-

 

 

 

0.6

 

 

 

(0.3

)

Balance, September 30, 2025

 

$

(1.3

)

 

$

(2.9

)

 

$

(105.0

)

 

$

(109.2

)

 

 

 

Foreign
Currency
Translation Adjustments (1)

 

 

Derivative
(Loss) (1) (2)

 

 

Pension and Postretirement Adjustments (1)

 

 

Total
Accumulated
Other
Comprehensive
(Loss) (1) (2)

 

Balance, December 31, 2024

 

$

(2.2

)

 

$

(1.1

)

 

$

(106.9

)

 

$

(110.2

)

Other comprehensive income (loss) before reclassifications,
   net of tax (expense) benefit of $(0.2), $0.3, $- and $0.1

 

 

0.9

 

 

 

(1.4

)

 

 

-

 

 

 

(0.5

)

Amounts reclassified from accumulated other
   comprehensive (loss)

 

 

-

 

 

 

(0.4

)

 

 

1.9

 

 

 

1.5

 

Net current period other comprehensive income (loss)

 

 

0.9

 

 

 

(1.8

)

 

 

1.9

 

 

 

1.0

 

Balance, September 30, 2025

 

$

(1.3

)

 

$

(2.9

)

 

$

(105.0

)

 

$

(109.2

)

 

 

 

Foreign
Currency
Translation Adjustments (1)

 

 

Derivative
Gain (Loss) (1) (2)

 

 

Pension and Postretirement Adjustments (1) (2)

 

 

Total
Accumulated
Other
Comprehensive
(Loss) (1) (2)

 

Balance, June 30, 2024

 

$

(0.2

)

 

$

1.2

 

 

$

(107.5

)

 

$

(106.5

)

Other comprehensive income (loss) before reclassifications,
   net of tax benefit of $-, $1.5, $0.2 and $1.7

 

 

0.3

 

 

 

(4.7

)

 

 

(0.4

)

 

 

(4.8

)

Amounts reclassified from accumulated other
   comprehensive (loss)

 

 

-

 

 

 

(1.0

)

 

 

(0.6

)

 

 

(1.6

)

Net current period other comprehensive income (loss)

 

 

0.3

 

 

 

(5.7

)

 

 

(1.0

)

 

 

(6.4

)

Balance, September 30, 2024

 

$

0.1

 

 

$

(4.5

)

 

$

(108.5

)

 

$

(112.9

)

 

 

 

Foreign
Currency
Translation Adjustments (1)

 

 

Derivative
Gain (Loss) (1) (2)

 

 

Pension and Postretirement Adjustments (1) (2)

 

 

Total
Accumulated
Other
Comprehensive
(Loss) (1) (2)

 

Balance, December 31, 2023

 

$

1.0

 

 

$

0.5

 

 

$

(106.2

)

 

$

(104.7

)

Other comprehensive (loss) before reclassifications,
   net of tax benefit of $0.1, $0.5, $0.2 and $0.8

 

 

(0.9

)

 

 

(1.4

)

 

 

(0.4

)

 

 

(2.7

)

Amounts reclassified from accumulated other
   comprehensive (loss)

 

 

-

 

 

 

(3.6

)

 

 

(1.9

)

 

 

(5.5

)

Net current period other comprehensive (loss)

 

 

(0.9

)

 

 

(5.0

)

 

 

(2.3

)

 

 

(8.2

)

Balance, September 30, 2024

 

$

0.1

 

 

$

(4.5

)

 

$

(108.5

)

 

$

(112.9

)

 

(1)
Amounts are net of tax.
(2)
Amounts include our 50% share of AOCL components from our WAVE joint venture.

 

 

 

Amounts Reclassified from Accumulated Other Comprehensive (Loss)

 

 

Affected Line Item in the
Condensed Consolidated
Statements of Earnings

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

and Comprehensive

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

Income

Derivative Adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap contracts, before tax

 

$

(0.1

)

 

$

(1.4

)

 

$

(0.5

)

 

$

(4.7

)

 

Interest expense

Tax impact

 

 

-

 

 

 

0.4

 

 

 

0.1

 

 

 

1.1

 

 

Income tax expense

Total (income), net of tax

 

 

(0.1

)

 

 

(1.0

)

 

 

(0.4

)

 

 

(3.6

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension and Postretirement Adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of prior service credit

 

 

-

 

 

 

(0.1

)

 

 

(0.1

)

 

 

(0.2

)

 

Other non-operating (income), net

Amortization of net actuarial loss (gain)

 

 

0.9

 

 

 

(0.9

)

 

 

2.8

 

 

 

(2.5

)

 

Other non-operating (income), net

Total loss (income), before tax

 

 

0.9

 

 

 

(1.0

)

 

 

2.7

 

 

 

(2.7

)

 

 

Tax impact

 

 

(0.3

)

 

 

0.4

 

 

 

(0.8

)

 

 

0.8

 

 

Income tax expense

Total loss (income), net of tax

 

 

0.6

 

 

 

(0.6

)

 

 

1.9

 

 

 

(1.9

)

 

 

Total reclassifications for the period

 

$

0.5

 

 

$

(1.6

)

 

$

1.5

 

 

$

(5.5

)