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Share Owners' Equity | 9 Months Ended
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Sep. 30, 2014
Share Owners' Equity |
Share Owners' Equity | 10. Share Owners’ Equity The activity in share owners’ equity for the three months ended September 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 July 1, 2014 |  | $ | 2 |  | $ | 3,059 |  | $ | (463 | ) | $ | 204 |  | $ | (1,002 | ) | $ | 122 |  | $ | 1,922 |
Issuance of common stock (13,253 shares) |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Reissuance of common stock (52,167 shares) |  |  |  |  |  | 1 |  |  |  |  |  |  |  | 1 |
Stock compensation |  |  |  | 3 |  |  |  |  |  |  |  |  |  | 3 |
Net earnings |  |  |  |  |  |  |  | 60 |  |  |  | 7 |  | 67 |
Other comprehensive loss |  |  |  |  |  |  |  |  |  | (165 | ) | (3 | ) | (168 | )
Contributions from noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  | (2 | ) | (2 | )
Balance on September 30, 2014 |  | $ | 2 |  | $ | 3,062 |  | $ | (462 | ) | $ | 264 |  | $ | (1,167 | ) | $ | 124 |  | $ | 1,823 |
|  | 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 July 1, 2013 |  | $ | 2 |  | $ | 3,018 |  | $ | (433 | ) | $ | 6 |  | $ | (1,559 | ) | $ | 160 |  | $ | 1,194 |
Issuance of common stock (855,261 shares) |  |  |  | 15 |  |  |  |  |  |  |  |  |  | 15 |
Reissuance of common stock (61,187 shares) |  |  |  |  |  | 1 |  |  |  |  |  |  |  | 1 |
Treasury shares purchased (335,245 shares) |  |  |  |  |  | (10 | ) |  |  |  |  |  |  | (10 | )
Stock compensation |  |  |  | 1 |  |  |  |  |  |  |  |  |  | 1 |
Net earnings |  |  |  |  |  |  |  | 130 |  |  |  | 6 |  | 136 |
Other comprehensive income |  |  |  |  |  |  |  |  |  | 39 |  |  |  | 39 |
Distributions to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  | 1 |  | 1 |
Balance on September 30, 2013 |  | $ | 2 |  | $ | 3,034 |  | $ | (442 | ) | $ | 136 |  | $ | (1,520 | ) | $ | 167 |  | $ | 1,377 |
During the three months ended September 30, 2013, the Company purchased 335,245 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 activity in share owners’ equity for the nine months ended September 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 (226,795 shares) |  |  |  | 5 |  |  |  |  |  |  |  |  |  | 5 |
Reissuance of common stock (149,234 shares) |  |  |  |  |  | 4 |  |  |  |  |  |  |  | 4 |
Treasury shares purchased (364,436 shares) |  |  |  |  |  | (12 | ) |  |  |  |  |  |  | (12 | )
Stock compensation |  |  |  | 17 |  |  |  |  |  |  |  |  |  | 17 |
Net earnings |  |  |  |  |  |  |  | 275 |  |  |  | 18 |  | 293 |
Other comprehensive loss |  |  |  |  |  |  |  |  |  | (46 | ) | (4 | ) | (50 | )
Distributions to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  | (37 | ) | (37 | )
Balance on September 30, 2014 |  | $ | 2 |  | $ | 3,062 |  | $ | (462 | ) | $ | 264 |  | $ | (1,167 | ) | $ | 124 |  | $ | 1,823 |
|  | 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 (1,285,826 shares) |  |  |  | 22 |  |  |  |  |  |  |  |  |  | 22 |
Reissuance of common stock (159,111 shares) |  |  |  |  |  | 3 |  |  |  |  |  |  |  | 3 |
Treasury shares purchased (683,534 shares) |  |  |  |  |  | (20 | ) |  |  |  |  |  |  | (20 | )
Repurchase of exchangeable notes |  |  |  | (1 | ) |  |  |  |  |  |  |  |  | (1 | )
Stock compensation |  |  |  | 8 |  |  |  |  |  |  |  |  |  | 8 |
Net earnings |  |  |  |  |  |  |  | 331 |  |  |  | 16 |  | 347 |
Other comprehensive loss |  |  |  |  |  |  |  |  |  | (14 | ) | (6 | ) | (20 | )
Distributions to noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  | (21 | ) | (21 | )
Contributions from noncontrolling interests |  |  |  |  |  |  |  |  |  |  |  | 4 |  | 4 |
Balance on September 30, 2013 |  | $ | 2 |  | $ | 3,034 |  | $ | (442 | ) | $ | 136 |  | $ | (1,520 | ) | $ | 167 |  | $ | 1,377 |
During the nine months ended September 30, 2014, the Company purchased 364,436 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 nine months ended September 30, 2013, the Company purchased 683,534 shares of its common stock for $20 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) |
|  | September 30, |  | December 31, |  | September 30, |
|  | 2014 |  | 2013 |  | 2013 |
Shares of common stock issued (including treasury shares) |  | 183,911 |  | 183,500 |  | 183,371 |
Treasury shares |  | 19,001 |  | 18,786 |  | 18,426

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: 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=26873400&loc=d3e23780-122690 Reference 2: 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=27012166&loc=d3e187143-122770 Reference 3: 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 4: 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=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 8: 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 9: 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 10: 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 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: 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=27012166&loc=d3e187085-122770 Reference 14: 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 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: 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 17: 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 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: 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 + Details
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