XML 56 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Share Owners' Equity
 6 Months Ended
Jun. 30, 2014
Share Owners' Equity  
Share Owners' Equity

10.  Share Owners’ Equity

 

The activity in share owners’ equity for the three months ended June 30, 2014 and 2013 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 April 1, 2014

 

$

2

 

$

3,052

 

$

(452

)

$

90

 

$

(1,062

)

$

130

 

$

1,760

 

Issuance of common stock (57,815 shares)

 

 

 

1

 

 

 

 

 

 

 

 

 

1

 

Reissuance of common stock (49,026 shares)

 

 

 

 

 

1

 

 

 

 

 

 

 

1

 

Treasury shares purchased (364,436 shares)

 

 

 

 

 

(12

)

 

 

 

 

 

 

(12

)

Stock compensation

 

 

 

6

 

 

 

 

 

 

 

 

 

6

 

Net earnings

 

 

 

 

 

 

 

114

 

 

 

6

 

120

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

60

 

2

 

62

 

Distributions to noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

(16

)

(16

)

Balance on June 30, 2014

 

$

2

 

$

3,059

 

$

(463

)

$

204

 

$

(1,002

)

$

122

 

$

1,922

 

 

 

 

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, 2013

 

$

2

 

$

3,013

 

$

(424

)

$

(126

)

$

(1,485

)

$

175

 

$

1,155

 

Issuance of common stock (114,861 shares)

 

 

 

3

 

 

 

 

 

 

 

 

 

3

 

Reissuance of common stock (57,153 shares)

 

 

 

 

 

1

 

 

 

 

 

 

 

1

 

Treasury shares purchased (348,289 shares)

 

 

 

 

 

(10

)

 

 

 

 

 

 

(10

)

Repurchase of exchangeable notes

 

 

 

(1

)

 

 

 

 

 

 

 

 

(1

)

Stock compensation

 

 

 

3

 

 

 

 

 

 

 

 

 

3

 

Net earnings

 

 

 

 

 

 

 

132

 

 

 

5

 

137

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

(74

)

(2

)

(76

)

Distributions to noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

(21

)

(21

)

Contributions from noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

3

 

3

 

Balance on June 30, 2013

 

$

2

 

$

3,018

 

$

(433

)

$

6

 

$

(1,559

)

$

160

 

$

1,194

 

 

The activity in share owners’ equity for the six months ended June 30, 2014 and 2013 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, 2014

 

$

2

 

$

3,040

 

$

(454

)

$

(11

)

$

(1,121

)

$

147

 

$

1,603

 

Issuance of common stock (213,542 shares)

 

 

 

5

 

 

 

 

 

 

 

 

 

5

 

Reissuance of common stock (97,067 shares)

 

 

 

 

 

3

 

 

 

 

 

 

 

3

 

Treasury shares purchased (364,436 shares)

 

 

 

 

 

(12

)

 

 

 

 

 

 

(12

)

Stock compensation

 

 

 

14

 

 

 

 

 

 

 

 

 

14

 

Net earnings

 

 

 

 

 

 

 

215

 

 

 

11

 

226

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

119

 

(1

)

118

 

Distributions to noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

(35

)

(35

)

Balance on June 30, 2014

 

$

2

 

$

3,059

 

$

(463

)

$

204

 

$

(1,002

)

$

122

 

$

1,922

 

 

 

 

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, 2013

 

$

2

 

$

3,005

 

$

(425

)

$

(195

)

$

(1,506

)

$

174

 

$

1,055

 

Issuance of common stock (430,565 shares)

 

 

 

7

 

 

 

 

 

 

 

 

 

7

 

Reissuance of common stock (97,924 shares)

 

 

 

 

 

2

 

 

 

 

 

 

 

2

 

Treasury shares purchased (348,289 shares)

 

 

 

 

 

(10

)

 

 

 

 

 

 

(10

)

Repurchase of exchangeable notes

 

 

 

(1

)

 

 

 

 

 

 

 

 

(1

)

Stock compensation

 

 

 

7

 

 

 

 

 

 

 

 

 

7

 

Net earnings

 

 

 

 

 

 

 

201

 

 

 

10

 

211

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

(53

)

(6

)

(59

)

Distributions to noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

(21

)

(21

)

Contributions from noncontrolling interests

 

 

 

 

 

 

 

 

 

 

 

3

 

3

 

Balance on June 30, 2013

 

$

2

 

$

3,018

 

$

(433

)

$

6

 

$

(1,559

)

$

160

 

$

1,194

 

 

During the three and six months ended June 30, 2014, the Company purchased 364,000 shares of its common stock for $12 million pursuant to authorization by its Board of Directors in December 2013 to purchase up to $100 million of the Company’s common stock through December 31, 2015.

 

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 through December 31, 2013.

 

The Company has 250,000,000 shares of common stock authorized with a par value of $.01 per share. Shares outstanding are as follows:

 

 

 

Shares Outstanding (in thousands)

 

 

 

June 30,

 

December 31,

 

June 30,

 

 

 

2014

 

2013

 

2013

 

 

 

 

 

 

 

 

 

Shares of common stock issued (including treasury shares)

 

183,897

 

183,500

 

182,511

 

 

 

 

 

 

 

 

 

Treasury shares

 

19,053

 

18,786

 

18,152