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Share Owners' Equity | 9 Months Ended
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Sep. 30, 2025
Share Owners' Equity |
Share Owners' Equity | ​ ​ 11. Share Owners’ Equity ​ The activity in share owners’ equity for the three months ended September 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 July 1, 2025 | ​ | $ | 2 | ​ | $ | 3,037 | ​ | ​ | (674) | ​ | $ | 656 | ​ | $ | (1,785) | ​ | $ | 133 | ​ | $ | 1,369 | ​
Reissuance of common stock (0.1 million shares) | ​ | ​ | ​ | ​ | ​ | (2) | ​ | ​ | 4 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 2 | ​
Shares repurchased (0.6 million shares) | ​ | ​ | ​ | ​ | ​ | (10) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (10) | ​
Stock compensation (0.0 million shares) | ​ | ​ | ​ | ​ | ​ | 4 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 4 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 30 | ​ | ​ | ​ | ​ | ​ | 7 | ​ |  | 37 | ​
Other comprehensive income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 65 | ​ | ​ | 5 | ​ |  | 70 | ​
Distributions to non-controlling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (2) | ​ | ​ | (2) | ​
Balance on September 30, 2025 | ​ | $ | 2 | ​ | $ | 3,029 | ​ | $ | (670) | ​ | $ | 686 | ​ | $ | (1,720) | ​ | $ | 143 | ​ | $ | 1,470 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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, 2024 | ​ | $ | 2 | ​ | $ | 3,069 | ​ | $ | (685) | ​ | $ | 911 | ​ | $ | (1,794) | ​ | $ | 128 | ​ | $ | 1,631 | ​
Reissuance of common stock (0.2 million shares) | ​ | ​ | ​ | ​ | ​ | (2) | ​ | ​ | 4 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 2 | ​
Shares repurchased (0.9 million shares) | ​ | ​ | ​ | ​ | ​ | (10) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (10) | ​
Stock compensation (0.0 million shares) | ​ | ​ | ​ | ​ | ​ | 3 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 3 | ​
Net earnings (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (80) | ​ | ​ | ​ | ​ | ​ | 4 | ​ |  | (76) | ​
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (69) | ​ | ​ | 1 | ​ |  | (68) | ​
Balance on September 30, 2024 | ​ | $ | 2 | ​ | $ | 3,060 | ​ | $ | (681) | ​ | $ | 830 | ​ | $ | (1,863) | ​ | $ | 133 | ​ | $ | 1,481 | ​
​ ​ The activity in share owners’ equity for the nine months ended September 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 (0.5 million shares) | ​ | ​ | ​ | ​ | ​ | (6) | ​ | ​ | 14 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 8 | ​
Shares repurchased (2.5 million shares) | ​ | ​ | ​ | ​ | ​ | (30) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (30) | ​
Stock compensation (1.4 million shares) | ​ | ​ | ​ | ​ | ​ | 12 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 12 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 9 | ​ | ​ | ​ | ​ | ​ | 17 | ​ | ​ | 26 | ​
Other comprehensive income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 255 | ​ | ​ | 10 | ​ | ​ | 265 | ​
Distributions to non-controlling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (10) | ​ | ​ | (10) | ​
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7) | ​
Balance on September 30, 2025 | ​ | $ | 2 | ​ | $ | 3,029 | ​ | $ | (670) | ​ | $ | 686 | ​ | $ | (1,720) | ​ | $ | 143 | ​ | $ | 1,470 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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) | ​ | ​ | ​ | ​ | ​ | (5) | ​ | ​ | 14 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 9 | ​
Shares repurchased (2.2 million shares) | ​ | ​ | ​ | ​ | ​ | (30) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (30) | ​
Stock compensation (1.9 million shares) | ​ | ​ | ​ | ​ | ​ | 9 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 9 | ​
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 48 | ​ | ​ | ​ | ​ | ​ | 13 | ​ |  | 61 | ​
Other comprehensive loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (283) | ​ | ​ | (6) | ​ |  | (289) | ​
Distributions to non-controlling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (9) | ​ | ​ | (9) | ​
Other | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (14) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (14) | ​
Balance on September 30, 2024 | ​ | $ | 2 | ​ | $ | 3,060 | ​ | $ | (681) | ​ | $ | 830 | ​ | $ | (1,863) | ​ | $ | 133 | ​ | $ | 1,481 | ​
​ During the three months ended September 30, 2025, the Company purchased 647,440 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 $50 million remained available for purchases under this program as of September 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) |
​ | ​ | September 30, | ​ | December 31, | ​ | September 30, |
​ |  | 2025 |  | 2024 |  | 2024 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares of common stock issued (including treasury shares) |  | 184,339 | ​ | 184,851 | ​ | 185,610 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Treasury shares |  | 30,744 | ​ | 30,784 | ​ | 30,963 | ​
​ ​ ​​

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