Note 6 - Stockholders' Equity

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

Common stock — Our Board of Directors declared a cash dividend of ten cents per share of common stock in the first quarter of 2020. Dividends accrue on restricted stock units (RSUs) granted under our stock compensation program and will be paid in cash or additional units when the underlying units vest.

Share repurchase program — On December 11, 2019 our Board of Directors approved an extension of our existing common stock share repurchase program through December 31, 2021. Approximately $150 remained available for future share repurchases as of September 30, 2020.

Changes in equity —

	Three Months Ended September 30,
2020	Common Stock		Additional Paid-In Capital		Retained Earnings			Treasury Stock			Accumulated Other Comprehensive Loss			Non-controlling Interests			Total Equity
Balance, June 30, 2020	$	2	$	2,390	$	490		$	(156	)	$	(1,082	)	$	76		$	1,720
Net income						45									4			49
Other comprehensive income												12			11			23
Distributions to noncontrolling interests															(2	)		(2	)
Purchase of noncontrolling interests															1			1
Stock compensation				2														2
Balance, September 30, 2020	$	2	$	2,392	$	535		$	(156	)	$	(1,070	)	$	90		$	1,793
2019
Balance, June 30, 2019	$	2	$	2,376	$	456		$	(150	)	$	(968	)	$	98		$	1,814
Net income						111									3			114
Other comprehensive loss												(26	)		(12	)		(38	)
Common stock dividends						(15	)											(15	)
Distributions to noncontrolling interests															(2	)		(2	)
Stock compensation				5														5
Balance, September 30, 2019	$	2	$	2,381	$	552		$	(150	)	$	(994	)	$	87		$	1,878

	Nine Months Ended September 30,
2020	Common Stock		Additional Paid-In Capital		Retained Earnings			Treasury Stock			Accumulated Other Comprehensive Loss			Non-controlling Interests			Total Equity
Balance, December 31, 2019	$	2	$	2,386	$	622		$	(150	)	$	(987	)	$	95		$	1,968
Adoption of ASU 2016-13 credit losses, January 1, 2020						(1	)											(1	)
Net income (loss)						(71	)								6			(65	)
Other comprehensive income (loss)												(83	)		1			(82	)
Common stock dividends						(15	)											(15	)
Distributions to noncontrolling interests															(10	)		(10	)
Purchase of noncontrolling interests				1											(2	)		(1	)
Stock compensation				5														5
Stock withheld for employee taxes									(6	)								(6	)
Balance, September 30, 2020	$	2	$	2,392	$	535		$	(156	)	$	(1,070	)	$	90		$	1,793
2019
Balance, December 31, 2018	$	2	$	2,368	$	456		$	(119	)	$	(1,362	)	$	97		$	1,442
Adoption of ASU 2016-02 leases, January 1, 2019						(1	)											(1	)
Net income						141									9			150
Other comprehensive income (loss)												368			(13	)		355
Common stock dividends						(44	)											(44	)
Distributions to noncontrolling interests															(14	)		(14	)
Increase from business combination															8			8
Common stock share repurchases									(25	)								(25	)
Stock compensation				13														13
Stock withheld for employee taxes									(6	)								(6	)
Balance, September 30, 2019	$	2	$	2,381	$	552		$	(150	)	$	(994	)	$	87		$	1,878

Changes in each component of accumulated other comprehensive income (AOCI) of the parent —

	Parent Company Stockholders
	Foreign Currency Translation			Hedging			Defined Benefit Plans			Accumulated Other Comprehensive Loss
Balance, June 30, 2020	$	(855	)	$	9		$	(236	)	$	(1,082	)
Other comprehensive income (loss):
Currency translation adjustments		7									7
Holding gains and losses					(51	)					(51	)
Reclassification of amount to net income (a)					52						52
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								5			5
Tax expense								(1	)		(1	)
Other comprehensive income		7			1			4			12
Balance, September 30, 2020	$	(848	)	$	10		$	(232	)	$	(1,070	)
Balance, June 30, 2019	$	(694	)	$	(47	)	$	(227	)	$	(968	)
Other comprehensive income (loss):
Currency translation adjustments		(39	)								(39	)
Holding gains and losses					57						57
Reclassification of amount to net income (a)					(49	)					(49	)
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								6			6
Tax expense								(1	)		(1	)
Other comprehensive income (loss)		(39	)		8			5			(26	)
Balance, September 30, 2019	$	(733	)	$	(39	)	$	(222	)	$	(994	)

	Parent Company Stockholders
	Foreign Currency Translation			Hedging			Defined Benefit Plans			Accumulated Other Comprehensive Loss
Balance, December 31, 2019	$	(714	)	$	(30	)	$	(243	)	$	(987	)
Other comprehensive income (loss):
Currency translation adjustments		(134	)								(134	)
Holding gains and losses					(29	)					(29	)
Reclassification of amount to net income (a)					68						68
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								15			15
Tax (expense) benefit					1			(4	)		(3	)
Other comprehensive income (loss)		(134	)		40			11			(83	)
Balance, September 30, 2020	$	(848	)	$	10		$	(232	)	$	(1,070	)
Balance, December 31, 2018	$	(721	)	$	(54	)	$	(587	)	$	(1,362	)
Other comprehensive income (loss):
Currency translation adjustments		(12	)								(12	)
Holding gains and losses					77						77
Reclassification of amount to net income (a)					(62	)					(62	)
Net actuarial gains								104			104
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								282			282
Tax expense								(21	)		(21	)
Other comprehensive income (loss)		(12	)		15			365			368
Balance, September 30, 2019	$	(733	)	$	(39	)	$	(222	)	$	(994	)

(a) Realized gains and losses from currency-related forward contracts associated with forecasted transactions or from other derivative instruments treated as cash flow hedges are reclassified from AOCI into the same line item in the consolidated statement of operations in which the underlying forecasted transaction or other hedged item is recorded. See Note 12 for additional details.

(b) See Note 10 for additional details.