| Share Owners' Equity |
12. Share Owners’ Equity The activity in share owners’ equity for the three months ended June 30, 2026 and 2025 is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Share Owners’ Equity of the Company | | | | | | | | | | | | | | | | | | | Retained | | Accumulated | | | | | | | | | | | | Capital in | | | | | Earnings/ | | Other | | Non- | | Total Share | | | | Common | | Excess of | | Treasury | | (Accumulated | | Comprehensive | | controlling | | Owners' | | | | Stock | | Par Value | | Stock | | Deficit) | | Loss | | Interests | | Equity | | Balance on April 1, 2026 | | $ | 2 | | $ | 3,024 | | | (667) | | $ | 475 | | $ | (1,558) | | $ | 156 | | $ | 1,432 | | Reissuance of common stock (0.2 million shares) | | | | | | (3) | | | 6 | | | | | | | | | | | | 3 | | Net earnings (loss) | | | | | | | | | | | | (972) | | | | | | 7 | | | (965) | | Other comprehensive income | | | | | | | | | | | | | | | 76 | | | 5 | | | 81 | | Distributions to non-controlling interests | | | | | | | | | | | | | | | | | | (12) | | | (12) | | Balance on June 30, 2026 | | $ | 2 | | $ | 3,021 | | $ | (661) | | $ | (497) | | $ | (1,482) | | $ | 156 | | $ | 539 | |
| | | | | | | | | | | | | | | | | | | | | | | | | 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 | |
The activity in share owners’ equity for the six months ended June 30, 2026 and 2025 is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Share Owners’ Equity of the Company | | | | | | | | | | | | | | | | | | | Retained | | Accumulated | | | | | | | | | | | | Capital in | | | | | Earnings/ | | Other | | Non- | | Total Share | | | | Common | | Excess of | | Treasury | | (Accumulated | | Comprehensive | | controlling | | Owners' | | | | Stock | | Par Value | | Stock | | Deficit) | | Loss | | Interests | | Equity | | Balance on January 1, 2026 | | $ | 2 | | $ | 3,031 | | $ | (667) | | $ | 548 | | $ | (1,620) | | $ | 151 | | $ | 1,445 | | Reissuance of common stock (0.4 million shares) | | | | | | (5) | | | 10 | | | | | | | | | | | | 5 | | Shares repurchased (0.6 million shares) | | | | | | (10) | | | | | | | | | | | | | | | (10) | | Stock compensation (0.9 million shares) | | | | | | 5 | | | | | | | | | | | | | | | 5 | | Net earnings (loss) | | | | | | | | | | | | (1,046) | | | | | | 10 | | | (1,036) | | Other comprehensive income | | | | | | | | | | | | | | | 138 | | | 7 | | | 145 | | Distributions to non-controlling interests | | | | | | | | | | | | | | | | | | (12) | | | (12) | | Other | | | | | | | | | (4) | | | | | | | | | | | | (4) | | Balance on June 30, 2026 | | $ | 2 | | $ | 3,021 | | $ | (661) | | $ | (497) | | $ | (1,482) | | $ | 156 | | $ | 539 | |
| | | | | | | | | | | | | | | | | | | | | | | | | 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 (0.6 million shares) | | | | | | (20) | | | | | | | | | | | | | | | (20) | | Stock compensation (0.9 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 | |
The Company’s Board of Directors has authorized a $100 million anti-dilutive share repurchase program, which is intended to offset stock-based compensation provided to the Company’s directors, officers, and employees. During the three months ended June 30, 2026, no shares of the Company’s common stock were repurchased. Approximately $30 million remained available for purchases under this program as of June 30, 2026. 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, | | | | 2026 | | 2025 | | 2025 | | | | | | | | | | Shares of common stock issued (including treasury shares) | | 184,180 | | 183,531 | | 184,985 | | | | | | | | | | Treasury shares | | 30,521 | | 30,558 | | 30,912 | |
|