| Shareholders' Equity |
NOTE 17. SHAREHOLDERS’ EQUITY Common Stock Repurchase Plan On July 29, 2016, our Board of Directors approved our share repurchase program authorizing us to repurchase up to $150.0 million of our outstanding shares of common stock (the “Program”). Since inception of the Program, we have been authorized to repurchase up to an aggregate of $1,700.0 million of our outstanding shares of common stock through December 31, 2026. We had $609.8 million remaining under the Board’s repurchase authorization as of June 30, 2025. Repurchases of our common stock under the Program may be made through open market, block and privately negotiated transactions, including Rule 10b5-1 plans, at such times and in such amounts as management deems appropriate, subject to market and business conditions, regulatory requirements and other factors. The Program does not obligate AWI to repurchase any particular amount of common stock and may be suspended or discontinued at any time without notice. During the three months ended June 30, 2025, we repurchased 0.2 million shares under the Program for a total cost of $30.0 million, excluding commissions and taxes, or an average price of $145.04 per share. During the six months ended June 30, 2025, we repurchased 0.4 million shares under the Program for a total cost of $52.0 million, excluding commissions and taxes, or an average price of $145.78 per share. Since inception and through June 30, 2025, we have repurchased 15.0 million shares under the Program for a total cost of $1,090.2 million, excluding commissions and taxes, or an average price of $72.67 per share. Dividends In February and April 2025, our Board of Directors declared $0.308 per share quarterly dividends, which were paid to shareholders in March and May 2025, respectively. On July 23, 2025, our Board of Directors declared a $0.308 per share quarterly dividend to be paid in August 2025. Accumulated Other Comprehensive (Loss)
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Foreign
Currency
Translation Adjustments (1) |
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Derivative
(Loss) (1) (2) |
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Pension and Postretirement Adjustments (1) |
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|
Total
Accumulated
Other
Comprehensive
(Loss) (1) (2) |
|
Balance, March 31, 2025 |
|
$ |
(1.9 |
) |
|
$ |
(2.6 |
) |
|
$ |
(106.3 |
) |
|
$ |
(110.8 |
) |
Other comprehensive income (loss) before reclassifications,
net of tax (expense) benefit of ($0.3), $0.1, $- and ($0.2) |
|
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1.5 |
|
|
|
(0.3 |
) |
|
|
- |
|
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1.2 |
|
Amounts reclassified from accumulated other
comprehensive (loss) |
|
|
- |
|
|
|
- |
|
|
|
0.7 |
|
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|
0.7 |
|
Net current period other comprehensive income (loss) |
|
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1.5 |
|
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|
(0.3 |
) |
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0.7 |
|
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|
1.9 |
|
Balance, June 30, 2025 |
|
$ |
(0.4 |
) |
|
$ |
(2.9 |
) |
|
$ |
(105.6 |
) |
|
$ |
(108.9 |
) |
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Foreign
Currency
Translation Adjustments (1) |
|
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Derivative
(Loss) (1) (2) |
|
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Pension and Postretirement Adjustments (1) |
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Total
Accumulated
Other
Comprehensive
(Loss) (1) (2) |
|
Balance, December 31, 2024 |
|
$ |
(2.2 |
) |
|
$ |
(1.1 |
) |
|
$ |
(106.9 |
) |
|
$ |
(110.2 |
) |
Other comprehensive income (loss) before reclassifications,
net of tax (expense) benefit of ($0.4), $0.4, $- and $- |
|
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1.8 |
|
|
|
(1.5 |
) |
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- |
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0.3 |
|
Amounts reclassified from accumulated other
comprehensive (loss) |
|
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- |
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(0.3 |
) |
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1.3 |
|
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|
1.0 |
|
Net current period other comprehensive income (loss) |
|
|
1.8 |
|
|
|
(1.8 |
) |
|
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1.3 |
|
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|
1.3 |
|
Balance, June 30, 2025 |
|
$ |
(0.4 |
) |
|
$ |
(2.9 |
) |
|
$ |
(105.6 |
) |
|
$ |
(108.9 |
) |
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Foreign
Currency
Translation Adjustments (1) |
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Derivative
Gain (1) (2) |
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Pension and Postretirement Adjustments (1) (2) |
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Total
Accumulated
Other
Comprehensive
(Loss) (1) (2) |
|
Balance, March 31, 2024 |
|
$ |
0.2 |
|
|
$ |
1.0 |
|
|
$ |
(106.8 |
) |
|
$ |
(105.6 |
) |
Other comprehensive (loss) income before reclassifications,
net of tax expense of $-, ($0.3), $- and ($0.3) |
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(0.4 |
) |
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1.1 |
|
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- |
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0.7 |
|
Amounts reclassified from accumulated other
comprehensive (loss) |
|
|
- |
|
|
|
(0.9 |
) |
|
|
(0.7 |
) |
|
|
(1.6 |
) |
Net current period other comprehensive (loss) income |
|
|
(0.4 |
) |
|
|
0.2 |
|
|
|
(0.7 |
) |
|
|
(0.9 |
) |
Balance, June 30, 2024 |
|
$ |
(0.2 |
) |
|
$ |
1.2 |
|
|
$ |
(107.5 |
) |
|
$ |
(106.5 |
) |
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Foreign
Currency
Translation Adjustments (1) |
|
|
Derivative
Gain (1) (2) |
|
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Pension and Postretirement Adjustments (1) (2) |
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Total
Accumulated
Other
Comprehensive
(Loss) (1) (2) |
|
Balance, December 31, 2023 |
|
$ |
1.0 |
|
|
$ |
0.5 |
|
|
$ |
(106.2 |
) |
|
$ |
(104.7 |
) |
Other comprehensive (loss) income before reclassifications,
net of tax benefit (expense) of $0.1, ($1.0), $- and ($0.9) |
|
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(1.2 |
) |
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3.3 |
|
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- |
|
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|
2.1 |
|
Amounts reclassified from accumulated other
comprehensive (loss) |
|
|
- |
|
|
|
(2.6 |
) |
|
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(1.3 |
) |
|
|
(3.9 |
) |
Net current period other comprehensive (loss) income |
|
|
(1.2 |
) |
|
|
0.7 |
|
|
|
(1.3 |
) |
|
|
(1.8 |
) |
Balance, June 30, 2024 |
|
$ |
(0.2 |
) |
|
$ |
1.2 |
|
|
$ |
(107.5 |
) |
|
$ |
(106.5 |
) |
(1)Amounts are net of tax. (2)Amounts include our 50% share of AOCL components from our WAVE joint venture.
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Amounts Reclassified from Accumulated Other Comprehensive (Loss) |
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Affected Line Item in the
Condensed Consolidated
Statements of Earnings |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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and Comprehensive |
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2025 |
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2024 |
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2025 |
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2024 |
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Income |
Derivative Adjustments: |
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Interest rate swap contracts, before tax |
|
$ |
- |
|
|
$ |
(1.2 |
) |
|
$ |
(0.4 |
) |
|
$ |
(3.3 |
) |
|
Interest expense |
Tax impact |
|
|
- |
|
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|
0.3 |
|
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|
0.1 |
|
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|
0.7 |
|
|
Income tax expense |
Total (income), net of tax |
|
|
- |
|
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|
(0.9 |
) |
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(0.3 |
) |
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(2.6 |
) |
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Pension and Postretirement Adjustments: |
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Amortization of prior service credit |
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(0.1 |
) |
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- |
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(0.1 |
) |
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(0.1 |
) |
|
Other non-operating (income), net |
Amortization of net actuarial loss (gain) |
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1.0 |
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(0.8 |
) |
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1.9 |
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(1.6 |
) |
|
Other non-operating loss (income), net |
Total loss (income), before tax |
|
|
0.9 |
|
|
|
(0.8 |
) |
|
|
1.8 |
|
|
|
(1.7 |
) |
|
|
Tax impact |
|
|
(0.2 |
) |
|
|
0.1 |
|
|
|
(0.5 |
) |
|
|
0.4 |
|
|
Income tax expense |
Total loss (income), net of tax |
|
|
0.7 |
|
|
|
(0.7 |
) |
|
|
1.3 |
|
|
|
(1.3 |
) |
|
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Total reclassifications for the period |
|
$ |
0.7 |
|
|
$ |
(1.6 |
) |
|
$ |
1.0 |
|
|
$ |
(3.9 |
) |
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