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Share Owners' Equity | 9 Months Ended
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Sep. 30, 2021
Share Owners' Equity |
Share Owners' Equity | ​ 11. Share Owners’ Equity ​ The activity in share owners’ equity for the three months ended September 30, 2021 and 2020 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 | ​ | Interests | ​ | Equity | ​
Balance on July 1, 2021 | ​ | $ | 2 | ​ | $ | 3,113 | ​ | ​ | (709) | ​ | $ | 173 | ​ | $ | (2,180) | ​ | $ | 103 | ​ | $ | 502 | ​
Reissuance of common stock (0.2 million shares) | ​ | ​ | ​ | ​ | ​ | (1) | ​ | ​ | 4 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 3 | ​
Shares repurchased (0.6 million shares) | ​ | ​ | ​ | ​ | ​ | (10) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (10) | ​
Stock compensation (0.0 million shares) | ​ | ​ | ​ | ​ | ​ | 3 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 3 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 85 | ​ | ​ | ​ | ​ | ​ | 6 | ​ |  | 91 | ​
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (18) | ​ | ​ | (1) | ​ |  | (19) | ​
Balance on September 30, 2021 | ​ | $ | 2 | ​ | $ | 3,105 | ​ | $ | (705) | ​ | $ | 258 | ​ | $ | (2,198) | ​ | $ | 108 | ​ | $ | 570 | ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Share Owners’ Equity of the Company | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Accumulated |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Capital in | ​ | ​ | ​ | ​ | Retained | ​ | Other | ​ | Non- | ​ | Total Share | ​
​ | ​ | Common | ​ | Excess of | ​ | Treasury | ​ | Earnings | ​ | Comprehensive | ​ | controlling | ​ | Owners' | ​
​ |  | Stock |  | Par Value |  | Stock | ​ | (Loss) | ​ | Loss | ​ | Interests | ​ | Equity |
Balance on July 1, 2020 | ​ | $ | 2 | ​ | $ | 3,128 | ​ | $ | (724) | ​ | $ | (147) | ​ | $ | (2,308) | ​ | $ | 91 | ​ | $ | 42 | ​
Reissuance of common stock (0.2 million shares) | ​ | ​ | ​ | ​ | ​ | (3) | ​ | ​ | 5 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 2 | ​
Stock compensation (0.1 million shares) | ​ | ​ | ​ | ​ | ​ | 3 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 3 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 328 | ​ | ​ | ​ | ​ | ​ | 7 | ​ |  | 335 | ​
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (117) | ​ | ​ | ​ | ​ |  | (117) | ​
Balance on September 30, 2020 | ​ | $ | 2 | ​ | $ | 3,128 | ​ | $ | (719) | ​ | $ | 181 | ​ | $ | (2,425) | ​ | $ | 98 | ​ | $ | 265 | ​
​ The activity in share owners’ equity for the nine months ended September 30, 2021 and 2020 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 | ​ | Interests | ​ | Equity |
Balance on January 1, 2021 | ​ | $ | 2 | ​ | $ | 3,129 | ​ | $ | (714) | ​ | $ | 152 | ​ | $ | (2,272) | ​ | $ | 104 | ​ | $ | 401 | ​
Issuance of common stock (0.05 million shares) | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1 | ​
Reissuance of common stock (0.3 million shares) | ​ | ​ | ​ | ​ | ​ | (4) | ​ | ​ | 11 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 7 | ​
Shares repurchased (1.0 million shares) | ​ | ​ | ​ | ​ | ​ | (30) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (30) | ​
Stock compensation (0.6 million shares) | ​ | ​ | ​ | ​ | ​ | 11 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 11 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 106 | ​ | ​ | ​ | ​ | ​ | 17 | ​ | ​ | 123 | ​
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 74 | ​ | ​ | (14) | ​ | ​ | 60 | ​
Other | ​ | ​ | ​ | ​ | ​ | (2) | ​ | ​ | (2) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | (3) | ​
Balance on September 30, 2021 | ​ | $ | 2 | ​ | $ | 3,105 | ​ | $ | (705) | ​ | $ | 258 | ​ | $ | (2,198) | ​ | $ | 108 | ​ | $ | 570 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Share Owners’ Equity of the Company | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Accumulated |  | ​ | ​ |  | ​ | ​
​ | ​ | ​ | ​ | ​ | Capital in | ​ | ​ | ​ | ​ | ​ | Retained | ​ | Other | ​ | Non- | ​ | Total Share | ​
​ | ​ | Common | ​ | Excess of | ​ | Treasury | ​ | Earnings | ​ | Comprehensive | ​ | controlling | ​ | Owners' | ​
​ | ​ | Stock | ​ | Par Value | ​ | Stock | ​ | (Loss) | ​ | Loss | ​ | Interests | ​ | Equity |
Balance on January 1, 2020 | ​ | $ | 2 | ​ | $ | 3,130 | ​ | $ | (733) | ​ | $ | (89) | ​ | $ | (1,843) | ​ | $ | 97 | ​ | $ | 564 | ​
Reissuance of common stock (0.7 million shares) | ​ | ​ | ​ | ​ | ​ | (10) | ​ | ​ | 17 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 7 | ​
Stock compensation (0.9 million shares) | ​ | ​ | ​ | ​ | ​ | 8 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 8 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 278 | ​ | ​ | ​ | ​ | ​ | 11 | ​ |  | 289 | ​
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (582) | ​ | ​ | (10) | ​ |  | (592) | ​
Dividends declared | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (8) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (8) | ​
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3) | ​
Balance on September 30, 2020 | ​ | $ | 2 | ​ | $ | 3,128 | ​ | $ | (719) | ​ | $ | 181 | ​ | $ | (2,425) | ​ | $ | 98 | ​ | $ | 265 | ​
​ ​ During the three months ended September 30, 2021, the Company purchased 619,666 shares of its common stock for approximately $10 million. The stock purchases were pursuant to a $150 million anti-dilutive share repurchase program authorized by the Company’s Board of Directors that is intended to offset stock-based compensation provided to the Company’s directors, officers, and employees. Approximately $120 million remained available for purchases under this program as of September 30, 2021. 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, |
​ |  | 2021 |  | 2020 |  | 2020 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares of common stock issued (including treasury shares) |  | 188,426 | ​ | 189,305 | ​ | 189,302 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Treasury shares |  | 31,599 | ​ | 31,911 | ​ | 32,136 | ​
​ ​ ​​

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