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Share Owners' Equity | 9 Months Ended
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Sep. 30, 2011
Share Owners' Equity |
Share Owners' Equity |
4. Share Owners’ Equity The activity in share owners’ equity for the three months ended September 30, 2011 and 2010 is as follows:
|  | Share Owners’ Equity of the Company |  |  |  |  |
|  | Common Stock |  | Capital in Excess of Par Value |  | Treasury Stock |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Non- controlling Interests |  | Total Share Owners’ Equity |
Balance on July 1, 2011 |  | $ | 2 |  | $ | 2,986 |  | $ | (410 | ) | $ | 227 |  | $ | (672 | ) | $ | 157 |  | $ | 2,290 |
Issuance of common stock (0.1 million shares) |  |  |  | 2 |  |  |  |  |  |  |  |  |  | 2 |
Reissuance of common stock (0.1 million shares) |  |  |  | (1 | ) | 2 |  |  |  |  |  |  |  | 1 |
Stock compensation |  |  |  | 3 |  |  |  |  |  |  |  |  |  | 3 |
Comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  |  |  |  |  |  |  | 116 |  |  |  | 4 |  | 120 |
Foreign currency translation adjustments |  |  |  |  |  |  |  |  |  | (352 | ) | (6 | ) | (358 | )
Pension and other postretirement benefit adjustments, net of tax |  |  |  |  |  |  |  |  |  | 39 |  |  |  | 39 |
Change in fair value of derivative instruments, net of tax |  |  |  |  |  |  |  |  |  | (2 | ) |  |  | (2 | )
Dividends paid to noncontrolling interests on subsidiary common stock |  |  |  |  |  |  |  |  |  |  |  | (1 | ) | (1 | )
Balance on September 30, 2011 |  | $ | 2 |  | $ | 2,990 |  | $ | (408 | ) | $ | 343 |  | $ | (987 | ) | $ | 154 |  | $ | 2,094 |
|  | Share Owners’ Equity of the Company |  |  |  |  |
|  | Common Stock |  | Capital in Excess of Par Value |  | Treasury Stock |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Non- controlling Interests |  | Total Share Owners’ Equity |
Balance on July 1, 2010 |  | $ | 2 |  | $ | 3,047 |  | $ | (414 | ) | $ | 355 |  | $ | (1,452 | ) | $ | 205 |  | $ | 1,743 |
Reissuance of common stock (0.1 million shares) |  |  |  |  |  | 1 |  |  |  |  |  |  |  | 1 |
Stock compensation |  |  |  | (3 | ) |  |  |  |  |  |  |  |  | (3 | )
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  |  |  |  |  |  |  | 139 |  |  |  | 12 |  | 151 |
Foreign currency translation adjustments |  |  |  |  |  |  |  |  |  | 266 |  | 10 |  | 276 |
Pension and other postretirement benefit adjustments, net of tax |  |  |  |  |  |  |  |  |  | 11 |  |  |  | 11 |
Change in fair value of derivative instruments, net of tax |  |  |  |  |  |  |  |  |  | (4 | ) |  |  | (4 | )
Acquisition of noncontrolling interest |  |  |  | (10 | ) |  |  |  |  |  |  | (8 | ) | (18 | )
Dividends paid to noncontrolling interests on subsidiary common stock |  |  |  |  |  |  |  |  |  |  |  | (1 | ) | (1 | )
Balance on September 30, 2010 |  | $ | 2 |  | $ | 3,034 |  | $ | (413 | ) | $ | 494 |  | $ | (1,179 | ) | $ | 218 |  | $ | 2,156 |
The activity in share owners’ equity for the nine months ended September 30, 2011 and 2010 is as follows:
|  | Share Owners’ Equity of the Company |  |  |  |  |
|  | Common Stock |  | Capital in Excess of Par Value |  | Treasury Stock |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Non- controlling Interests |  | Total Share Owners’ Equity |
Balance on January 1, 2011 |  | $ | 2 |  | $ | 3,040 |  | $ | (412 | ) | $ | 82 |  | $ | (897 | ) | $ | 211 |  | $ | 2,026 |
Issuance of common stock (0.3 million shares) |  |  |  | 5 |  |  |  |  |  |  |  |  |  | 5 |
Reissuance of common stock (0.2 million shares) |  |  |  |  |  | 4 |  |  |  |  |  |  |  | 4 |
Stock compensation |  |  |  | (1 | ) |  |  |  |  |  |  |  |  | (1 | )
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  |  |  |  |  |  |  | 261 |  |  |  | 15 |  | 276 |
Foreign currency translation adjustments |  |  |  |  |  |  |  |  |  | (165 | ) | 3 |  | (162 | )
Pension and other postretirement benefit adjustments, net of tax |  |  |  |  |  |  |  |  |  | 85 |  |  |  | 85 |
Change in fair value of derivative instruments, net of tax |  |  |  |  |  |  |  |  |  | (1 | ) |  |  | (1 | )
Acquisition of noncontrolling interest |  |  |  | (54 | ) |  |  |  |  | (9 | ) | (43 | ) | (106 | )
Dividends paid to noncontrolling interests on subsidiary common stock |  |  |  |  |  |  |  |  |  |  |  | (32 | ) | (32 | )
Balance on September 30, 2011 |  | $ | 2 |  | $ | 2,990 |  | $ | (408 | ) | $ | 343 |  | $ | (987 | ) | $ | 154 |  | $ | 2,094 |
|  | Share Owners’ Equity of the Company |  |  |  |  |
|  | Common Stock |  | Capital in Excess of Par Value |  | Treasury Stock |  | Retained Earnings |  | Accumulated Other Comprehensive Loss |  | Non- controlling Interests |  | Total Share Owners’ Equity |
Balance on January 1, 2010 |  | $ | 2 |  | $ | 2,942 |  | $ | (217 | ) | $ | 129 |  | $ | (1,318 | ) | $ | 198 |  | $ | 1,736 |
Issuance of common stock (0.9 million shares) |  |  |  | 4 |  |  |  |  |  |  |  |  |  | 4 |
Reissuance of common stock (0.2 million shares) |  |  |  | 1 |  | 3 |  |  |  |  |  |  |  | 4 |
Treasury shares purchased (6.0 million shares) |  |  |  |  |  | (199 | ) |  |  |  |  |  |  | (199 | )
Stock compensation |  |  |  | 6 |  |  |  |  |  |  |  |  |  | 6 |
Issuance of exchangeable notes |  |  |  | 91 |  |  |  |  |  |  |  |  |  | 91 |
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  |  |  |  |  |  |  | 365 |  |  |  | 35 |  | 400 |
Foreign currency translation adjustments |  |  |  |  |  |  |  |  |  | 76 |  | 8 |  | 84 |
Pension and other postretirement benefit adjustments, net of tax |  |  |  |  |  |  |  |  |  | 68 |  |  |  | 68 |
Change in fair value of derivative instruments, net of tax |  |  |  |  |  |  |  |  |  | (5 | ) |  |  | (5 | )
Acquisition of noncontrolling interest |  |  |  | (10 | ) |  |  |  |  |  |  | (8 | ) | (18 | )
Noncontrolling interests’ share of acquisition |  |  |  |  |  |  |  |  |  |  |  | 8 |  | 8 |
Dividends paid to noncontrolling interests on subsidiary common stock |  |  |  |  |  |  |  |  |  |  |  | (23 | ) | (23 | )
Balance on September 30, 2010 |  | $ | 2 |  | $ | 3,034 |  | $ | (413 | ) | $ | 494 |  | $ | (1,179 | ) | $ | 218 |  | $ | 2,156 |
The acquisition of noncontrolling interests for the nine months ended September 30, 2011 was related to the Company purchasing the noncontrolling interest in its southern Brazil operations.

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- Definition The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 3, 4, 5, 6, 7, 8 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 4 -Section 08 -Paragraph d Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Chapter 1 -Section B -Paragraph 7, 11A -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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