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Share Owners' Equity | 9 Months Ended
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Sep. 30, 2022
Share Owners' Equity |
Share Owners' Equity | ​ ​ ​ ​ ​ ​ 11. Share Owners’ Equity ​ The activity in share owners’ equity for the three months ended September 30, 2022 and 2021 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, 2022 | ​ | $ | 2 | ​ | $ | 3,085 | ​ | ​ | (695) | ​ | $ | 641 | ​ | $ | (1,890) | ​ | $ | 116 | ​ | $ | 1,259 | ​
Reissuance of common stock (0.2 million shares) | ​ | ​ | ​ | ​ | ​ | (2) | ​ | ​ | 4 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 2 | ​
Shares repurchased (0.8 million shares) | ​ | ​ | ​ | ​ | ​ | (10) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (10) | ​
Stock compensation (0.0 million shares) | ​ | ​ | ​ | ​ | ​ | 10 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 10 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 231 | ​ | ​ | ​ | ​ | ​ | 4 | ​ |  | 235 | ​
Other comprehensive loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (37) | ​ | ​ | (7) | ​ |  | (44) | ​
Distribution to noncontrolling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1) | ​ |  | (1) | ​
Balance on September 30, 2022 | ​ | $ | 2 | ​ | $ | 3,083 | ​ | $ | (691) | ​ | $ | 872 | ​ | $ | (1,927) | ​ | $ | 112 | ​ | $ | 1,451 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (18) | ​ | ​ | (1) | ​ |  | (19) | ​
Balance on September 30, 2021 | ​ | $ | 2 | ​ | $ | 3,105 | ​ | $ | (705) | ​ | $ | 258 | ​ | $ | (2,198) | ​ | $ | 108 | ​ | $ | 570 | ​
​ The activity in share owners’ equity for the nine months ended September 30, 2022 and 2021 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, 2022 | ​ | $ | 2 | ​ | $ | 3,090 | ​ | $ | (701) | ​ | $ | 301 | ​ | $ | (1,972) | ​ | $ | 107 | ​ | $ | 827 | ​
Reissuance of common stock (0.6 million shares) | ​ | ​ | ​ | ​ | ​ | (5) | ​ | ​ | 13 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 8 | ​
Shares repurchased (2.3 million shares) | ​ | ​ | ​ | ​ | ​ | (30) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (30) | ​
Stock compensation (0.5 million shares) | ​ | ​ | ​ | ​ | ​ | 28 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 28 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 571 | ​ | ​ | ​ | ​ | ​ | 41 | ​ | ​ | 612 | ​
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 45 | ​ | ​ | (9) | ​ | ​ | 36 | ​
Distributions to noncontrolling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (27) | ​ | ​ | (27) | ​
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3) | ​
Balance on September 30, 2022 | ​ | $ | 2 | ​ | $ | 3,083 | ​ | $ | (691) | ​ | $ | 872 | ​ | $ | (1,927) | ​ | $ | 112 | ​ | $ | 1,451 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 (1.7 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 | ​
​ During the three months ended September 30, 2022, the Company purchased 768,984 shares of its common stock for approximately $10 million. The share 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 $80 million remained available for purchases under this program as of September 30, 2022. ​ 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, |
​ |  | 2022 |  | 2021 |  | 2021 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares of common stock issued (including treasury shares) |  | 186,180 | ​ | 187,752 | ​ | 188,426 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Treasury shares |  | 31,042 | ​ | 31,397 | ​ | 31,599 | ​
​ ​ ​​

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