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Total Equity
3 Months Ended
Mar. 31, 2024
Stockholders' Equity Note [Abstract]  
Total Equity Total Equity
A summary of changes in total equity for the three months ended March 31, 2024 and the three months ended March 31, 2023 is provided below (in millions, except per share amounts):
Common StockAdditional
Paid-in
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss)
Total Hubbell
Shareholders'
Equity
Non-
controlling
interest
BALANCE AT DECEMBER 31, 2023$0.6 $6.1 $3,182.7 $(312.4)$2,877.0 $12.3 
Net income— — 147.8 — 147.8 1.3 
Other comprehensive (loss) income— — — (9.3)(9.3)— 
Stock-based compensation— 12.8 — — 12.8 — 
Acquisition/surrender of common shares(1)
— (17.6)(14.6)— (32.2)— 
Cash dividends declared ($1.22 per share)
— — (65.7)— (65.7)— 
Dividends to noncontrolling interest— — — — — (0.9)
Directors deferred compensation— — — — — — 
BALANCE AT MARCH 31, 2024$0.6 $1.3 $3,250.2 $(321.7)$2,930.4 $12.7 

Common StockAdditional
Paid-in
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss)
Total Hubbell
Shareholders'
Equity
Non-
controlling
interest
BALANCE AT DECEMBER 31, 2022$0.6 $ $2,705.5 $(345.2)$2,360.9 $9.7 
Net income— — 181.9 — 181.9 1.5 
Other comprehensive (loss) income— — — 9.3 9.3 — 
Stock-based compensation— 11.7 — — 11.7 — 
Acquisition/surrender of common shares(1)
— (9.9)(21.2)— (31.1)— 
Cash dividends declared ($1.12 per share)
— — (60.0)— (60.0)— 
Dividends to noncontrolling interest— — — — — (0.8)
Directors deferred compensation— — — — — — 
BALANCE AT MARCH 31, 2023$0.6 $1.8 $2,806.2 $(335.9)$2,472.7 $10.4 
(1) For accounting purposes, the Company treats repurchased shares as constructively retired when acquired and accordingly charges the purchase price against common stock par value, Additional paid-in capital, to the extent available, and Retained earnings. The change in Retained earnings of $14.6 million and $21.2 million in the first three months of 2024 and 2023, respectively, reflects this accounting treatment.

The detailed components of total comprehensive income are presented in the Condensed Consolidated Statements of Comprehensive Income.