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Share Owners' Equity | 6 Months Ended
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Jun. 30, 2013
Share Owners' Equity |
Share Owners' Equity | 9. Share Owners’ Equity The activity in share owners’ equity for the three months ended June 30, 2013 and 2012 is as follows:
|  | Share Owners’ Equity of the Company |  |  |  |  |
|  | Common Stock |  | Capital in Excess of Par Value |  | Treasury Stock |  | Retained Earnings (Loss) |  | Accumulated Other Comprehensive Loss |  | Non- controlling Interests |  | Total Share Owners’ Equity |
Balance on April 1, 2013 |  | $ | 2 |  | $ | 3,013 |  | $ | (424 | ) | $ | (126 | ) | $ | (1,485 | ) | $ | 175 |  | $ | 1,155 |
Issuance of common stock (0.1 million shares) |  |  |  | 3 |  |  |  |  |  |  |  |  |  | 3 |
Reissuance of common stock (0.06 million shares) |  |  |  |  |  | 1 |  |  |  |  |  |  |  | 1 |
Treasury shares purchased (0.3 million shares) |  |  |  |  |  | (10 | ) |  |  |  |  |  |  | (10 | )
Repurchase of exchangeable notes |  |  |  | (1 | ) |  |  |  |  |  |  |  |  | (1 | )
Stock compensation |  |  |  | 3 |  |  |  |  |  |  |  |  |  | 3 |
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  |  |  |  |  |  |  | 132 |  |  |  | 5 |  | 137 |
Foreign currency translation adjustments |  |  |  |  |  |  |  |  |  | (160 | ) | (2 | ) | (162 | )
Pension and other postretirement benefit adjustments, net of tax |  |  |  |  |  |  |  |  |  | 90 |  |  |  | 90 |
Change in fair value of derivative instruments |  |  |  |  |  |  |  |  |  | (4 | ) |  |  | (4 | )
Dividends paid to noncontrolling interests on subsidiary common stock |  |  |  |  |  |  |  |  |  |  |  | (21 | ) | (21 | )
Contributions from noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  | 3 |  | 3 |
Balance on June 30, 2013 |  | $ | 2 |  | $ | 3,018 |  | $ | (433 | ) | $ | 6 |  | $ | (1,559 | ) | $ | 160 |  | $ | 1,194 |
|  | Share Owners’ Equity of the Company |  |  |  |  |
|  | Common Stock |  | Capital in Excess of Par Value |  | Treasury Stock |  | Retained Loss |  | Accumulated Other Comprehensive Loss |  | Non- controlling Interests |  | Total Share Owners’ Equity |
Balance on April 1, 2012 |  | $ | 2 |  | $ | 2,996 |  | $ | (404 | ) | $ | (258 | ) | $ | (1,205 | ) | $ | 164 |  | $ | 1,295 |
Issuance of common stock (0.1 million shares) |  |  |  | 1 |  |  |  |  |  |  |  |  |  | 1 |
Reissuance of common stock (0.07 million shares) |  |  |  |  |  | 2 |  |  |  |  |  |  |  | 2 |
Stock compensation |  |  |  | 3 |  |  |  |  |  |  |  |  |  | 3 |
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  |  |  |  |  |  |  | 133 |  |  |  | 4 |  | 137 |
Foreign currency translation adjustments |  |  |  |  |  |  |  |  |  | (204 | ) | (3 | ) | (207 | )
Pension and other postretirement benefit adjustments, net of tax |  |  |  |  |  |  |  |  |  | 33 |  |  |  | 33 |
Change in fair value of derivative instruments |  |  |  |  |  |  |  |  |  | 3 |  |  |  | 3 |
Dividends paid to noncontrolling interests on subsidiary common stock |  |  |  |  |  |  |  |  |  |  |  | (23 | ) | (23 | )
Balance on June 30, 2012 |  | $ | 2 |  | $ | 3,000 |  | $ | (402 | ) | $ | (125 | ) | $ | (1,373 | ) | $ | 142 |  | $ | 1,244 |
The activity in share owners’ equity for the six months ended June 30, 2013 and 2012 is as follows:
|  | Share Owners’ Equity of the Company |  |  |  |  |
|  | Common Stock |  | Capital in Excess of Par Value |  | Treasury Stock |  | Retained Earnings (Loss) |  | Accumulated Other Comprehensive Loss |  | Non- controlling Interests |  | Total Share Owners’ Equity |
Balance on January 1, 2013 |  | $ | 2 |  | $ | 3,005 |  | $ | (425 | ) | $ | (195 | ) | $ | (1,506 | ) | $ | 174 |  | $ | 1,055 |
Issuance of common stock (0.4 million shares) |  |  |  | 7 |  |  |  |  |  |  |  |  |  | 7 |
Reissuance of common stock (0.1 million shares) |  |  |  |  |  | 2 |  |  |  |  |  |  |  | 2 |
Treasury shares purchased (0.3 million shares) |  |  |  |  |  | (10 | ) |  |  |  |  |  |  | (10 | )
Repurchase of exchangeable notes |  |  |  | (1 | ) |  |  |  |  |  |  |  |  | (1 | )
Stock compensation |  |  |  | 7 |  |  |  |  |  |  |  |  |  | 7 |
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  |  |  |  |  |  |  | 201 |  |  |  | 10 |  | 211 |
Foreign currency translation adjustments |  |  |  |  |  |  |  |  |  | (188 | ) | (6 | ) | (194 | )
Pension and other postretirement benefit adjustments, net of tax |  |  |  |  |  |  |  |  |  | 135 |  |  |  | 135 |
Dividends paid to noncontrolling interests on subsidiary common stock |  |  |  |  |  |  |  |  |  |  |  | (21 | ) | (21 | )
Contributions from noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  | 3 |  | 3 |
Balance on June 30, 2013 |  | $ | 2 |  | $ | 3,018 |  | $ | (433 | ) | $ | 6 |  | $ | (1,559 | ) | $ | 160 |  | $ | 1,194 |
|  | Share Owners’ Equity of the Company |  |  |  |  |
|  | Common Stock |  | Capital in Excess of Par Value |  | Treasury Stock |  | Retained Loss |  | Accumulated Other Comprehensive Loss |  | Non- controlling Interests |  | Total Share Owners’ Equity |
Balance on January 1, 2012 |  | $ | 2 |  | $ | 2,991 |  | $ | (405 | ) | $ | (379 | ) | $ | (1,321 | ) | $ | 153 |  | $ | 1,041 |
Issuance of common stock (0.2 million shares) |  |  |  | 2 |  |  |  |  |  |  |  |  |  | 2 |
Reissuance of common stock (0.1 million shares) |  |  |  |  |  | 3 |  |  |  |  |  |  |  | 3 |
Stock compensation |  |  |  | 7 |  |  |  |  |  |  |  |  |  | 7 |
Comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings |  |  |  |  |  |  |  | 254 |  |  |  | 8 |  | 262 |
Foreign currency translation adjustments |  |  |  |  |  |  |  |  |  | (112 | ) | 4 |  | (108 | )
Pension and other postretirement benefit adjustments, net of tax |  |  |  |  |  |  |  |  |  | 57 |  |  |  | 57 |
Change in fair value of derivative instrument |  |  |  |  |  |  |  |  |  | 3 |  |  |  | 3 |
Dividends paid to noncontrolling interests on subsidiary common stock |  |  |  |  |  |  |  |  |  |  |  | (23 | ) | (23 | )
Balance on June 30, 2012 |  | $ | 2 |  | $ | 3,000 |  | $ | (402 | ) | $ | (125 | ) | $ | (1,373 | ) | $ | 142 |  | $ | 1,244 |
During the three and six months ended June 30, 2013, the Company purchased 348,000 shares of its common stock for $10 million pursuant to authorization by its Board of Directors in August 2012 to purchase up to $75 million of the Company’s common stock until December 31, 2013.

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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 08 -Article 4 Reference 2: 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 3: 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 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 15 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: 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 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 9: 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 10: 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 11: 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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