| 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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