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Share Owners' Equity | 3 Months Ended
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Mar. 31, 2016
Share Owners' Equity |
Share Owners' Equity | 10. Share Owners’ Equity The activity in share owners’ equity for the three months ended March 31, 2016 and 2015 is as follows:
|  | Share Owners’ Equity of the Company |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |  |
|  |  |  |  | Capital in |  |  |  |  |  |  | Other |  | Non- |  |  |
|  | Common |  | Excess of |  | Treasury |  | Retained |  | Comprehensive |  | controlling |  | Total Share |
|  | Stock |  | Par Value |  | Stock |  | Loss |  | Loss |  | Interests |  | Owners' Equity |
Balance on January 1, 2016 |  | $ | 2 |  | $ | 3,064 |  | $ | (573) |  | $ | (305) |  | $ | (2,017) |  | $ | 108 |  | $ | 279 |
Issuance of common stock (503,410 shares) |  |  |  |  |  | 5 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5 |
Reissuance of common stock (134,602 shares) |  |  |  |  |  |  |  |  | 4 |  |  |  |  |  |  |  |  |  |  |  | 4 |
Stock compensation |  |  |  |  |  | 5 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5 |
Net earnings |  |  |  |  |  |  |  |  |  |  |  | 67 |  |  |  |  |  | 6 |  |  | 73 |
Other comprehensive income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 46 |  |  | 4 |  |  | 50 |
Balance on March 31, 2016 |  | $ | 2 |  | $ | 3,074 |  | $ | (569) |  | $ | (238) |  | $ | (1,971) |  | $ | 118 |  | $ | 416 |
|  | Share Owners’ Equity of the Company |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |  |
|  |  |  |  | Capital in |  |  |  |  |  |  | Other |  | Non- |  |  |
|  | Common |  | Excess of |  | Treasury |  | Retained |  | Comprehensive |  | controlling |  | Total Share |
|  | Stock |  | Par Value |  | Stock |  | Loss |  | Loss |  | Interests |  | Owners' Equity |
Balance on January 1, 2015 |  | $ | 2 |  | $ | 3,066 |  | $ | (480) |  | $ | (440) |  | $ | (1,494) |  | $ | 117 |  | $ | 771 |
Issuance of common stock (32,179 shares) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Reissuance of common stock (57,459 shares) |  |  |  |  |  |  |  |  | 2 |  |  |  |  |  |  |  |  |  |  |  | 2 |
Treasury shares purchased (3,509,496 shares) |  |  |  |  |  |  |  |  | (100) |  |  |  |  |  |  |  |  |  |  |  | (100) |
Stock compensation |  |  |  |  |  | 8 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8 |
Net earnings |  |  |  |  |  |  |  |  |  |  |  | 71 |  |  |  |  |  | 4 |  |  | 75 |
Other comprehensive loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (216) |  |  | (4) |  |  | (220) |
Acquisitions of noncontrolling interests |  |  |  |  |  | (18) |  |  |  |  |  |  |  |  |  |  |  | 6 |  |  | (12) |
Balance on March 31, 2015 |  | $ | 2 |  | $ | 3,056 |  | $ | (578) |  | $ | (369) |  | $ | (1,710) |  | $ | 123 |  | $ | 524 |
On February 4, 2015, the Company entered into an accelerated share repurchase agreement (“ASR”) with J.P. Morgan Securities LLC (the “ASR Counterparty”) to repurchase $100 million of its common stock. The Company advanced $100 million to the ASR Counterparty on February 5, 2015, and received 3,509,496 shares, which represented eighty five percent of the total shares as calculated using the closing price on February 4, 2015. The remaining share settlement was received from the ASR Counterparty in the amount of 599,760 shares and was completed on May 26, 2015 based on the daily volume-weighted average price of the Company’s common stock during the term of the ASR. Under the terms of the ASR program, the ASR Counterparty was permitted, in accordance with the applicable requirements of the federal securities laws, to separately trade in the Company’s shares. 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) |
|  | March 31, |  | December 31, |  | March 31, |
|  | 2016 |  | 2015 |  | 2015 |
Shares of common stock issued (including treasury shares) |  | 185,303 |  | 184,481 |  | 184,421 |
Treasury shares |  | 23,384 |  | 23,519 |  | 23,170 |

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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 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 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=27010918&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 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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 11: 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 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 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C + Details
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