DANA INC
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Stockholders' Equity
Note6. Stockholders’ Equity
Common stock — Our Board of Directors declared a cash dividend often cents per share of common stock in the first, second, andthird quarters of2024. 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.
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Changes in equity —
| 2024 | Common Stock | Additional Paid-In Capital | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Loss | Non-controlling Interests | Total Equity |
|---|---|---|---|---|---|---|---|
| Balance, December 31, 2023 | $2 | $2,255 | $317 | $(9) | $(990) | $62 | $1,637 |
| Net income | 3 | 5 | 8 | ||||
| Other comprehensive loss | (17) | (1) | (18) | ||||
| Common stock dividends and dividend equivalents | (15) | (15) | |||||
| Distributions to noncontrolling interests | (1) | (1) | |||||
| Redeemable noncontrolling interests adjustment to redemption value | (8) | (8) | |||||
| Stock compensation | 5 | 5 | |||||
| Stock withheld for employee taxes | (4) | (4) | |||||
| Balance, March 31, 2024 | 2 | 2,260 | 297 | (13) | (1,007) | 65 | 1,604 |
| Net income | 16 | 5 | 21 | ||||
| Other comprehensive loss | (67) | (67) | |||||
| Common stock dividends and dividend equivalents | (15) | (15) | |||||
| Distributions to noncontrolling interests | (1) | (1) | |||||
| Redeemable noncontrolling interests adjustment to redemption value | (5) | (5) | |||||
| Stock compensation | 7 | 7 | |||||
| Balance, June 30, 2024 | 2 | 2,267 | 293 | (13) | (1,074) | 69 | 1,544 |
| Net income | 4 | 7 | 11 | ||||
| Other comprehensive income | 8 | 8 | |||||
| Common stock dividends and dividend equivalents | (14) | (14) | |||||
| Distributions to noncontrolling interests | (13) | (13) | |||||
| Stock compensation | 7 | 7 | |||||
| Balance, September 30, 2024 | $2 | $2,274 | $283 | $(13) | $(1,066) | $63 | $1,543 |
| 2023 | Common Stock | Additional Paid-In Capital | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Loss | Non-controlling Interests | Total Equity |
|---|---|---|---|---|---|---|---|
| Balance, December 31, 2022 | $2 | $2,229 | $321 | $— | $(1,001) | $52 | $1,603 |
| Net income | 28 | 4 | 32 | ||||
| Other comprehensive income | 40 | 40 | |||||
| Common stock dividends and dividend equivalents | (15) | (15) | |||||
| Distributions to noncontrolling interests | (1) | (1) | |||||
| Redeemable noncontrolling interests adjustment to redemption value | (1) | (1) | |||||
| Stock compensation | 8 | 8 | |||||
| Stock withheld for employee taxes | (8) | (8) | |||||
| Balance, March 31, 2023 | 2 | 2,237 | 333 | (8) | (961) | 55 | 1,658 |
| Net income | 30 | 5 | 35 | ||||
| Other comprehensive loss | (3) | (3) | |||||
| Common stock dividends and dividend equivalents | (14) | (14) | |||||
| Distributions to noncontrolling interests | (2) | (2) | |||||
| Stock compensation | 7 | 7 | |||||
| Balance, June 30, 2023 | 2 | 2,244 | 349 | (8) | (964) | 58 | 1,681 |
| Net income | 19 | 8 | 27 | ||||
| Other comprehensive loss | (43) | (1) | (44) | ||||
| Common stock dividends and dividend equivalents | (15) | (15) | |||||
| Distributions to noncontrolling interests | (7) | (7) | |||||
| Stock compensation | 5 | 5 | |||||
| Balance, September 30, 2023 | $2 | $2,249 | $353 | $(8) | $(1,007) | $58 | $1,647 |
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Changes in each component of accumulated other comprehensive income (loss) (AOCI) of the parent —
| Parent Company Stockholders | ||||
|---|---|---|---|---|
| 2024 | Foreign Currency Translation | Hedging | Defined Benefit Plans | Accumulated Other Comprehensive Loss |
| Balance, December 31, 2023 | $(868) | $20 | $(142) | $(990) |
| Currency translation adjustments | (16) | (16) | ||
| Holding gains and losses | 9 | 9 | ||
| Reclassification of amount to net income (a) | (11) | (11) | ||
| Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b) | 1 | 1 | ||
| Other comprehensive income (loss) | (16) | (2) | 1 | (17) |
| Balance, March 31, 2024 | (884) | 18 | (141) | (1,007) |
| Currency translation adjustments | (45) | (45) | ||
| Holding gains and losses | (23) | (23) | ||
| Reclassification of amount to net income (a) | (8) | (8) | ||
| Other | 3 | 3 | ||
| Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b) | 2 | 2 | ||
| Tax expense | 5 | (1) | 4 | |
| Other comprehensive income (loss) | (45) | (26) | 4 | (67) |
| Balance, June 30, 2024 | (929) | (8) | (137) | (1,074) |
| Currency translation adjustments | 14 | 14 | ||
| Holding gains and losses | (35) | (35) | ||
| Reclassification of amount to net income (a) | 26 | 26 | ||
| Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b) | 1 | 1 | ||
| Tax expense | 2 | 2 | ||
| Other comprehensive income (loss) | 14 | (7) | 1 | 8 |
| Balance, September 30, 2024 | $(915) | $(15) | $(136) | $(1,066) |
| Parent Company Stockholders | ||||
|---|---|---|---|---|
| 2023 | Foreign Currency Translation | Hedging | Defined Benefit Plans | Accumulated Other Comprehensive Loss |
| Balance, December 31, 2022 | $(895) | $21 | $(127) | $(1,001) |
| Currency translation adjustments | 24 | 24 | ||
| Holding gains and losses | 16 | 16 | ||
| Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b) | 1 | 1 | ||
| Tax expense | (1) | (1) | ||
| Other comprehensive income | 24 | 15 | 1 | 40 |
| Balance, March 31, 2023 | (871) | 36 | (126) | (961) |
| Currency translation adjustments | (6) | (6) | ||
| Holding gains and losses | 10 | 10 | ||
| Reclassification of amount to net income (a) | (7) | (7) | ||
| Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b) | 1 | 1 | ||
| Tax expense | (1) | (1) | ||
| Other comprehensive income (loss) | (6) | 3 | — | (3) |
| Balance, June 30, 2023 | (877) | 39 | (126) | (964) |
| Currency translation adjustments | (21) | (21) | ||
| Holding gains and losses | 8 | 8 | ||
| Reclassification of amount to net income (a) | (30) | (30) | ||
| Tax expense | 1 | (1) | — | |
| Other comprehensive loss | (21) | (21) | (1) | (43) |
| Balance, September 30, 2023 | $(898) | $18 | $(127) | $(1,007) |
(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 Note12 for additional details.
(b) See Note10 for additional details.
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