Shareholders Equity (Notes)

3 Months Ended

Mar. 31, 2021

Shareholders' Equity and Share-based Payments [Text Block]

Shareholders' Equity

Activity in our various shareholders' equity accounts for the three months ended March 31, 2021 and 2020 were as follows (in millions, except per share amounts):


	Shares	Par Value		Additional Paid-in Capital		Retained Earnings (Deficit)		AOCI		Treasury Shares		Non-controlling Interest
BALANCE, December 31, 2020	206.1	$	82.6	$	8,639.9	$	(4,183.8)	$	(87.9)	$	(76.2)	$	(4.3)
Net loss	—	—		—		(910.0)		—		—		2.4
Shares issued under share-based compensation plans, net	—	—		(.2)		—		—		.2		—

Net changes in pension and other postretirement benefits	—	—		—		—		.1		—		—
Share-based compensation cost	—	—		3.8		—		—		—		—
Net other comprehensive loss	—	—		—		—		(5.4)		—		—
BALANCE, March 31, 2021	206.1	$	82.6	$	8,643.5	$	(5,093.8)	$	(93.2)	$	(76.0)	$	(1.9)


	Shares	Par Value		Additional Paid-in Capital		Retained Earnings (Deficit)		AOCI		Treasury Shares		Non-controlling Interest
BALANCE, December 31, 2019	205.9	$	82.5	$	8,627.8	$	671.7	$	6.2	$	(77.3)	$	(1.3)
Net loss	—	—		—		(3,006.3)		—		—		(1.4)

Shares issued under share-based compensation plans, net	—	—		(.7)		—		—		.9		—
Repurchase of shares	—	—		—		—		—		(.9)		—
Share-based compensation cost	—	—		7.8		—		—		—		—
Net other comprehensive loss	—	—		—		—		(13.4)		—		—
BALANCE, March 31, 2020	205.9	$	82.5	$	8,634.9	$	(2,334.6)	$	(7.2)	$	(77.3)	$	(2.7)

Pursuant to the terms contemplated in the Amended RSA, upon emergence from bankruptcy, our existing Class A ordinary shares will be frozen and removed from trading. Upon emergence from chapter 11, the existing Class A ordinary shares may be exchanged for 7-year warrants to purchase up to 7% of the New Equity (subject to dilution on account of the management incentive plan contemplated by the Amended RSA). The strike price of such warrants, if granted, will be set at a price per share equal to the value at which the senior noteholders would receive a 100% recovery on their claims, including accrued interest up to the Petition Date. See “Note 2 - Chapter 11 Proceedings and Ability to Continue as a Going Concern” for additional information related to our Amended RSA.