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Share Owners' Equity | 6 Months Ended
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Jun. 30, 2025
Share Owners' Equity |
Share Owners' Equity | ​ ​ 11. Share Owners’ Equity ​ The activity in share owners’ equity for the three months ended June 30, 2025 and 2024 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 April 1, 2025 | ​ | $ | 2 | ​ | $ | 3,045 | ​ | ​ | (679) | ​ | $ | 660 | ​ | $ | (1,914) | ​ | $ | 135 | ​ | $ | 1,249 | ​
Reissuance of common stock (0.2 million shares) | ​ | ​ | ​ | ​ | ​ | (2) | ​ | ​ | 5 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 3 | ​
Shares repurchased (0.9 million shares) | ​ | ​ | ​ | ​ | ​ | (10) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (10) | ​
Stock compensation (0.1 million shares) | ​ | ​ | ​ | ​ | ​ | 4 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 4 | ​
Net earnings (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5) | ​ | ​ | ​ | ​ | ​ | 6 | ​ |  | 1 | ​
Other comprehensive income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 129 | ​ | ​ | ​ | ​ |  | 129 | ​
Distributions to non-controlling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (8) | ​ | ​ | (8) | ​
Balance on June 30, 2025 | ​ | $ | 2 | ​ | $ | 3,037 | ​ | $ | (674) | ​ | $ | 656 | ​ | $ | (1,785) | ​ | $ | 133 | ​ | $ | 1,369 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 April 1, 2024 | ​ | $ | 2 | ​ | $ | 3,081 | ​ | $ | (690) | ​ | $ | 854 | ​ | $ | (1,560) | ​ | $ | 139 | ​ | $ | 1,826 | ​
Reissuance of common stock (0.2 million shares) | ​ | ​ | ​ | ​ | ​ | (1) | ​ | ​ | 5 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 4 | ​
Shares repurchased (0.6 million shares) | ​ | ​ | ​ | ​ | ​ | (10) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (10) | ​
Stock compensation (1.9 million shares) | ​ | ​ | ​ | ​ | ​ | (1) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (1) | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 57 | ​ | ​ | ​ | ​ | ​ | 5 | ​ |  | 62 | ​
Other comprehensive loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (234) | ​ | ​ | (7) | ​ |  | (241) | ​
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (9) | ​ | ​ | (9) | ​
Balance on June 30, 2024 | ​ | $ | 2 | ​ | $ | 3,069 | ​ | $ | (685) | ​ | $ | 911 | ​ | $ | (1,794) | ​ | $ | 128 | ​ | $ | 1,631 | ​
​ ​ ​ The activity in share owners’ equity for the six months ended June 30, 2025 and 2024 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, 2025 | ​ | $ | 2 | ​ | $ | 3,053 | ​ | $ | (677) | ​ | $ | 676 | ​ | $ | (1,975) | ​ | $ | 126 | ​ | $ | 1,205 | ​
Reissuance of common stock (0.4 million shares) | ​ | ​ | ​ | ​ | ​ | (4) | ​ | ​ | 10 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 6 | ​
Shares repurchased (1.9 million shares) | ​ | ​ | ​ | ​ | ​ | (20) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (20) | ​
Stock compensation (1.4 million shares) | ​ | ​ | ​ | ​ | ​ | 8 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 8 | ​
Net earnings (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (20) | ​ | ​ | ​ | ​ | ​ | 10 | ​ | ​ | (10) | ​
Other comprehensive income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 190 | ​ | ​ | 5 | ​ | ​ | 195 | ​
Distributions to non-controlling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (8) | ​ | ​ | (8) | ​
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7) | ​
Balance on June 30, 2025 | ​ | $ | 2 | ​ | $ | 3,037 | ​ | $ | (674) | ​ | $ | 656 | ​ | $ | (1,785) | ​ | $ | 133 | ​ | $ | 1,369 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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, 2024 | ​ | $ | 2 | ​ | $ | 3,086 | ​ | $ | (681) | ​ | $ | 782 | ​ | $ | (1,580) | ​ | $ | 135 | ​ | $ | 1,744 | ​
Reissuance of common stock (0.4 million shares) | ​ | ​ | ​ | ​ | ​ | (3) | ​ | ​ | 10 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 7 | ​
Shares repurchased (1.3 million shares) | ​ | ​ | ​ | ​ | ​ | (20) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (20) | ​
Stock compensation (1.9 million shares) | ​ | ​ | ​ | ​ | ​ | 6 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 6 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 129 | ​ | ​ | ​ | ​ | ​ | 9 | ​ |  | 138 | ​
Other comprehensive loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (214) | ​ | ​ | (7) | ​ |  | (221) | ​
Distributions to non-controlling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (9) | ​ | ​ | (9) | ​
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (14) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (14) | ​
Balance on June 30, 2024 | ​ | $ | 2 | ​ | $ | 3,069 | ​ | $ | (685) | ​ | $ | 911 | ​ | $ | (1,794) | ​ | $ | 128 | ​ | $ | 1,631 | ​
​ During the three months ended June 30, 2025, the Company purchased 938,029 shares of its common stock for approximately $10 million. The share purchases were made pursuant to a $100 million anti-dilutive share repurchase program authorized by the Company’s Board of Directors on May 14, 2024, which is intended to offset stock-based compensation provided to the Company’s directors, officers, and employees. Approximately $60 million remained available for purchases under this program as of June 30, 2025. 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) |
​ | ​ | June 30, | ​ | December 31, | ​ | June 30, |
​ |  | 2025 |  | 2024 |  | 2024 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares of common stock issued (including treasury shares) |  | 184,985 | ​ | 184,851 | ​ | 187,083 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Treasury shares |  | 30,912 | ​ | 30,784 | ​ | 31,361 | ​
​ ​ ​​

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