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Share Owners' Equity | 9 Months Ended
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Sep. 30, 2019
Share Owners' Equity |
Share Owners' Equity | ​ ​ 12. Share Owners’ Equity The activity in share owners’ equity for the three months ended September 30, 2019 and 2018 is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Share Owners’ Equity of the Company | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Accumulated |  | ​ | ​ |  | ​ |
​ | ​ | ​ | ​ | ​ | Capital in | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other | ​ | Non- | ​ | Total Share | ​
​ | ​ | Common | ​ | Excess of | ​ | Treasury | ​ | Retained | ​ | Comprehensive | ​ | controlling | ​ | Owners' | ​
​ | ​ | Stock | ​ | Par Value | ​ | Stock | ​ | Earnings (Loss) | ​ | Loss | ​ | Interests | ​ | Equity | ​
Balance on July 1, 2019 | ​ | $ | 2 | ​ | ​ | 3,136 | ​ | ​ | (742) | ​ | ​ | 470 | ​ | ​ | (1,891) | ​ | ​ | 115 | ​ | $ | 1,090 | ​
Reissuance of common stock (0.01 million shares) | ​ | ​ | ​ | ​ | ​ | (1) | ​ | ​ | 3 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 2 | ​
Stock compensation (0.01 million shares) | ​ | ​ | ​ | ​ | ​ | 4 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 4 | ​
Net earnings (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (575) | ​ | ​ | ​ | ​ | ​ | 8 | ​ |  | (567) | ​
Other comprehensive loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (64) | ​ | ​ | (22) | ​ |  | (86) | ​
Dividends declared | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (7) | ​
Balance on September 30, 2019 | ​ | $ | 2 | ​ | $ | 3,139 | ​ | $ | (739) | ​ | $ | (112) | ​ | $ | (1,955) | ​ | $ | 101 | ​ | $ | 436 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Share Owners’ Equity of the Company | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Accumulated |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Capital in | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other | ​ | Non- | ​ | Total Share | ​
​ | ​ | Common | ​ | Excess of | ​ | Treasury | ​ | Retained | ​ | Comprehensive | ​ | controlling | ​ | Owners' | ​
​ |  | Stock |  | Par Value |  | Stock | ​ | Earnings | ​ | Loss | ​ | Interests | ​ | Equity |
Balance on July 1, 2018 | ​ | $ | 2 | ​ | ​ | 3,115 | ​ | ​ | (642) | ​ | ​ | 232 | ​ | ​ | (1,929) | ​ | ​ | 120 | ​ | $ | 898 | ​
Reissuance of common stock (0.1 million shares) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 3 | ​
Treasury shares purchased (0.7 million shares) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (12) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (12) | ​
Stock compensation (0.05 million shares) | ​ | ​ | ​ | ​ | ​ | 5 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 5 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 120 | ​ | ​ | ​ | ​ | ​ | 7 | ​ |  | 127 | ​
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 54 | ​ | ​ | (8) | ​ |  | 46 | ​
Balance on September 30, 2018 | ​ | $ | 2 | ​ | $ | 3,120 | ​ | $ | (651) | ​ | $ | 352 | ​ | $ | (1,875) | ​ | $ | 119 | ​ | $ | 1,067 | ​
The activity in share owners’ equity for the nine months ended September 30, 2019 and 2018 is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Share Owners’ Equity of the Company | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Accumulated |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Capital in | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other | ​ | Non- | ​ | Total Share | ​
​ | ​ | Common | ​ | Excess of | ​ | Treasury | ​ | Retained | ​ | Comprehensive | ​ | controlling | ​ | Owners' | ​
​ | ​ | Stock | ​ | Par Value | ​ | Stock | ​ | Earnings (Loss) | ​ | Loss | ​ | Interests | ​ | Equity |
Balance on January 1, 2019 | ​ | $ | 2 | ​ | ​ | 3,124 | ​ | ​ | (705) | ​ | ​ | 333 | ​ | ​ | (1,968) | ​ | ​ | 114 | ​ | $ | 900 | ​
Issuance of common stock (0.1 million shares) | ​ | ​ | ​ | ​ | ​ | 2 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2 | ​
Reissuance of common stock (0.2 million shares) | ​ | ​ | ​ | ​ | ​ | (2) | ​ | ​ | 9 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 7 | ​
Treasury shares purchased (2.1 million shares) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (38) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (38) | ​
Stock compensation (1.7 million shares) | ​ | ​ | ​ | ​ | ​ | 15 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 15 | ​
Net earnings (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (430) | ​ | ​ | ​ | ​ | ​ | 17 | ​ | ​ | (413) | ​
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 13 | ​ | ​ | (30) | ​ | ​ | (17) | ​
Dividends declared | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (15) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (15) | ​
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5) | ​
Balance on September 30, 2019 | ​ | $ | 2 | ​ | $ | 3,139 | ​ | $ | (739) | ​ | $ | (112) | ​ | $ | (1,955) | ​ | $ | 101 | ​ | $ | 436 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Share Owners’ Equity of the Company | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Accumulated |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Capital in | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other | ​ | Non- | ​ | Total Share | ​
​ | ​ | Common | ​ | Excess of | ​ | Treasury | ​ | Retained | ​ | Comprehensive | ​ | controlling | ​ | Owners' | ​
​ | ​ | Stock | ​ | Par Value | ​ | Stock | ​ | Earnings | ​ | Loss | ​ | Interests | ​ | Equity |
Balance on January 1, 2018 | ​ | $ | 2 | ​ | ​ | 3,099 | ​ | ​ | (551) | ​ | ​ | 85 | ​ | ​ | (1,827) | ​ | ​ | 119 | ​ | $ | 927 | ​
Reissuance of common stock (0.3 million shares) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 7 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 7 | ​
Treasury shares purchased (5.4 million shares) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (107) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (107) | ​
Stock compensation (0.7 million shares) | ​ | ​ | ​ | ​ | ​ | 21 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 21 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 267 | ​ | ​ | ​ | ​ | ​ | 18 | ​ |  | 285 | ​
Other comprehensive loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (48) | ​ | ​ | (18) | ​ |  | (66) | ​
Balance on September 30, 2018 | ​ | $ | 2 | ​ | $ | 3,120 | ​ | $ | (651) | ​ | $ | 352 | ​ | $ | (1,875) | ​ | $ | 119 | ​ | $ | 1,067 | ​
​ During the three months ended September 30, 2018, the Company purchased 682,028 shares of its common stock for approximately $12 million. During the nine months ended September 30, 2019 and 2018, the Company purchased 2,064,652 and 5,358,150 shares of its common stock for approximately $38 million and $107 million, respectively. The stock purchases were pursuant to the authorization by its Board of Directors that had approximately $512 million in remaining purchase authority as of September 30, 2019. 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, |
​ |  | 2019 |  | 2018 |  | 2018 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares of common stock issued (including treasury shares) |  | 188,442 | ​ | 186,576 | ​ | 186,440 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Treasury shares |  | 32,812 | ​ | 30,918 | ​ | 27,741 | ​
​

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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