Note 6 - Stockholders' Equity

6 Months Ended

Jun. 30, 2021

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 and second quarters of 2021. 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 February 16, 2021 our Board of Directors approved an extension of our existing common stock share repurchase program through December 31, 2023. Approximately $150 remained available for future share repurchases as of June 30, 2021.

Changes in equity —

	Three Months Ended June 30,
2021	Common Stock		Additional Paid-In Capital			Retained Earnings			Treasury Stock			Accumulated Other Comprehensive Loss			Non-controlling Interests			Total Equity
Balance, March 31, 2021	$	2	$	2,415		$	583		$	(161	)	$	(1,044	)	$	75		$	1,870
Net income							53									4			57
Other comprehensive income (loss)													37			(9	)		28
Common stock dividends							(15	)											(15	)
Distributions to noncontrolling interests																(2	)		(2	)
Sale of noncontrolling interests																(1	)		(1	)
Redeemable noncontrolling interests adjustment to redemption value							(4	)											(4	)
Other																1			1
Stock compensation				5															5
Balance, June 30, 2021	$	2	$	2,420		$	617		$	(161	)	$	(1,007	)	$	68		$	1,939
2020
Balance, March 31, 2020	$	2	$	2,391		$	664		$	(156	)	$	(1,098	)	$	77		$	1,880
Net income (loss)							(174	)								—			(174	)
Other comprehensive income													16			9			25
Distributions to noncontrolling interests																(7	)		(7	)
Purchase of noncontrolling interests				1												(3	)		(2	)
Stock compensation				(2	)														(2	)
Balance, June 30, 2020	$	2	$	2,390		$	490		$	(156	)	$	(1,082	)	$	76		$	1,720

	Six Months Ended June 30,
2021	Common Stock		Additional Paid-In Capital		Retained Earnings			Treasury Stock			Accumulated Other Comprehensive Loss			Non-controlling Interests			Total Equity
Balance, December 31, 2020	$	2	$	2,408	$	530		$	(156	)	$	(1,026	)	$	76		$	1,834
Net income						124									5			129
Other comprehensive income (loss)												19			(11	)		8
Common stock dividends						(29	)											(29	)
Distributions to noncontrolling interests															(2	)		(2	)
Sale of noncontrolling interests															(1	)		(1	)
Redeemable noncontrolling interests adjustment to redemption value						(8	)											(8	)
Other															1			1
Stock compensation				12														12
Stock withheld for employee taxes									(5	)								(5	)
Balance, June 30, 2021	$	2	$	2,420	$	617		$	(161	)	$	(1,007	)	$	68		$	1,939
2020
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)						(116	)								2			(114	)
Other comprehensive loss												(95	)		(10	)		(105	)
Common stock dividends						(15	)											(15	)
Distributions to noncontrolling interests															(8	)		(8	)
Purchase of noncontrolling interests				1											(3	)		(2	)
Stock compensation				3														3
Stock withheld for employee taxes									(6	)								(6	)
Balance, June 30, 2020	$	2	$	2,390	$	490		$	(156	)	$	(1,082	)	$	76		$	1,720

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

	Parent Company Stockholders
	Foreign Currency Translation			Hedging			Defined Benefit Plans			Accumulated Other Comprehensive Loss
Balance, March 31, 2021	$	(806	)	$	(8	)	$	(230	)	$	(1,044	)
Other comprehensive income (loss):
Currency translation adjustments		17									17
Holding gains and losses					(4	)					(4	)
Reclassification of amount to net income (a)					23						23
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								5			5
Tax expense					(3	)		(1	)		(4	)
Other comprehensive income		17			16			4			37
Balance, June 30, 2021	$	(789	)	$	8		$	(226	)	$	(1,007	)
Balance, March 31, 2020	$	(857	)	$	(1	)	$	(240	)	$	(1,098	)
Other comprehensive income (loss):
Currency translation adjustments		2									2
Holding gains and losses					(17	)					(17	)
Reclassification of amount to net income (a)					27						27
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								5			5
Tax expense								(1	)		(1	)
Other comprehensive income		2			10			4			16
Balance, June 30, 2020	$	(855	)	$	9		$	(236	)	$	(1,082	)

	Parent Company Stockholders
	Foreign Currency Translation			Hedging			Defined Benefit Plans			Accumulated Other Comprehensive Loss
Balance, December 31, 2020	$	(802	)	$	9		$	(233	)	$	(1,026	)
Other comprehensive income (loss):
Currency translation adjustments		13									13
Holding gains and losses					28						28
Reclassification of amount to net income (a)					(27	)					(27	)
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								9			9
Tax expense					(2	)		(2	)		(4	)
Other comprehensive income (loss)		13			(1	)		7			19
Balance, June 30, 2021	$	(789	)	$	8		$	(226	)	$	(1,007	)
Balance, December 31, 2019	$	(714	)	$	(30	)	$	(243	)	$	(987	)
Other comprehensive income (loss):
Currency translation adjustments		(141	)								(141	)
Holding gains and losses					22						22
Reclassification of amount to net income (a)					16						16
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)								10			10
Tax (expense) benefit					1			(3	)		(2	)
Other comprehensive income (loss)		(141	)		39			7			(95	)
Balance, June 30, 2020	$	(855	)	$	9		$	(236	)	$	(1,082	)

(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 13 for additional details.

(b) See Note 10 for additional details.