Shareholders Equity

9 Months Ended

Sep. 30, 2019

Activity in our various shareholders' equity accounts for the nine-month periods ended September 30, 2019 and 2018 were as follows (in millions, except per share amounts):


	Shares	Par Value		Additional Paid-in Capital		Retained Earnings		AOCI		Treasury Shares		Non-controlling Interest
BALANCE, December 31, 2018	115.2	$	46.2	$	7,225.0	$	874.2	$	18.2	$	(72.2)	$	(2.6)
Net loss	—	—		—		(190.4)		—		—		2.4
Dividends paid ($0.04 per share)	—	—		—		(4.5)		—		—		—
Shares issued under share-based compensation plans, net	—	—		(.1)		—		—		.1		—
Repurchase of shares	—	—		—		—		—		(2.8)		—
Share-based compensation cost	—	—		5.3		—		—		—		—
Net other comprehensive income	—	—		—		—		1.5		—		—
BALANCE, March 31, 2019	115.2	$	46.2	$	7,230.2	$	679.3	$	19.7	$	(74.9)	$	(0.2)
Net income	—	—		—		405.5		—		—		1.8
Equity issuance in connection with the Rowan Transaction	88.0	35.2		1,365.5		—		—		2.1		—
Shares issued under share-based compensation plans, net	2.6	1.1		(1.1)		—		—		(.8)		—
Repurchase of shares	—	—		—		—		—		(1.4)		—
Share-based compensation cost	—	—		13.8		—		—		—		—
Net other comprehensive income	—	—		—		—		.2		—		—
BALANCE, June 30, 2019	205.8	$	82.5	$	8,608.4	$	1,084.8	$	19.9	$	(75.0)	$	1.6
Net loss	—	—		—		(197.1)		—		—		(.4)
Equity issuance costs	—	—		(.6)		—		—		—		—
Repurchase of shares	—	—		—		—		—		(.2)		—
Share-based compensation cost	—	—		9.7		—		—		—		—
Distributions to noncontrolling interests	—	—		—		—		—		—		(2.1)
Net other comprehensive loss	—	—		—		—		(1.0)		—		—
BALANCE, September 30, 2019	205.8	$	82.5	$	8,617.5	$	887.7	$	18.9	$	(75.2)	$	(0.9)


	Shares	Par Value		Additional Paid-in Capital		Retained Earnings		AOCI		Treasury Shares		Non-controlling Interest
BALANCE, December 31, 2017	111.8	$	44.8	$	7,195.0	$	1,532.7	$	28.6	$	(69.0)	$	(2.1)
Net loss	—	—		—		(140.1)		—		—		(.4)
Dividends paid ($0.04 per share)	—	—		—		(4.4)		—		—		—
Cumulative-effect due to ASU 2018-02	—	—		—		(.8)		.8		—		—
Shares issued under share-based compensation plans, net	—	—		(.1)		—		—		.1		—
Repurchase of shares	—	—		—		—		—		(1.1)		—
Share-based compensation cost	—	—		7.5		—		—		—		—
Net other comprehensive loss	—	—		—		—		(.4)		—		—
BALANCE, March 31, 2018	111.8	$	44.8	$	7,202.4	$	1,387.4	$	29.0	$	(70.0)	$	(2.5)
Net loss	—	—		—		(151.0)		—		—		.9
Dividends paid ($0.04 per share)	—	—		—		(4.4)		—		—		—
Shares issued under share-based compensation plans, net	3.4	1.4		(.4)		—		—		(1.4)		—
Distributions to noncontrolling interests	—	—		—		—		—		—		(.7)
Repurchase of shares	—	—		—		—		—		(.6)		—
Share-based compensation cost	—	—		7.5		—		—		—		—
Net other comprehensive loss	—	—		—		—		(8.5)		—		—
BALANCE, June 30, 2018	115.2	$	46.2	$	7,209.5	$	1,232.0	$	20.5	$	(72.0)	$	(2.3)
Net loss	—	—		—		(145.0)		—		—		2.1
Dividends paid ($0.04 per share)	—	—		—		(4.5)		—		—		—
Distributions to noncontrolling interests	—	—		—		—		—		—		(2.0)
Repurchase of shares	—	—		(.1)		—		—		(.1)		—
Share-based compensation cost	—	—		7.2		—		—		—		—
Net other comprehensive loss	—	—		—		—		(1.3)		—		—
BALANCE, September 30, 2018	115.2	$	46.2	$	7,216.6	$	1,082.5	$	19.2	$	(72.1)	$	(2.2)

In connection with the Rowan Transaction on April 11, 2019, we issued 88.3 million Class A ordinary shares with an aggregate value of $1.4 billion. See Note 3 for additional information.

On April 11, 2019, we completed our combination with Rowan and effected the Reverse Stock Split. All share and per-share amounts in these condensed consolidated financial statements have been retrospectively adjusted to reflect the Reverse Stock Split.