.... and has been buying back shares as well.
Are you sure ?
In ROC's Balance Sheet below, Treasury Stock has been at -$1.4 mil. (and 0.1 mil.) for the last 5 years.
Over the same period their Common Shares have increased from 74.1 mil. to 78.5 mil.
| EQUITY & LIABILITIES | | Accounts Payable | 260.8 | 237.3 | 249.6 | 249.1 | 233.3 | | Notes Payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | | Short-Term Debt | 90.9 | 94.2 | 465.7 | 250.5 | 553.7 | | Accrued Expenses | 198.5 | 0.0 | 0.0 | 0.0 | 0.0 | | Accrued Liabilities | 92.6 | 227.1 | 330.1 | 291.0 | 257.5 | | Deferred Revenues | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | | Current Deferred Income Taxes | 9.0 | 2.6 | 2.6 | 3.8 | 3.6 | | Other Current Liabilities | 23.0 | 19.0 | 47.8 | 45.8 | 33.1 | | Total Current Liabilities | 674.8 | 580.2 | 1,095.8 | 840.2 | 1,081.2 | | Long-Term Debt | 2,720.3 | 2,434.1 | 1,695.3 | 1,437.2 | 2,198.1 | | Capital Lease Obligations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | | Deferred Income Taxes | 97.6 | 69.1 | 77.9 | 86.5 | 72.0 | | Other Non-Current Liabilities | 545.7 | 557.5 | 514.0 | 565.3 | 712.7 | | Minority Interest Liability | 315.4 | 290.0 | 289.4 | 298.2 | 253.1 | | Preferred Secur. Of Subsid. Trust | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | | Preferred Equity Outside Stock Equity | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | | Total Non-Current Liabilities | 3,679.0 | 3,350.7 | 2,576.6 | 2,387.2 | 3,235.9 | | Total Liabilities | 4,353.8 | 3,930.9 | 3,672.4 | 3,227.4 | 4,317.1 | | Preferred Stock Equity | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | | Common Stock Equity | 823.5 | 850.8 | 1,051.9 | 1,360.2 | 1,656.6 | | Common Par | 0.7 | 0.7 | 0.8 | 0.8 | 0.8 | | Additional Paid-In Capital | 1,163.5 | 1,169.2 | 1,202.6 | 1,222.2 | 1,243.1 | | Cumulative Translation Adjustments | 196.6 | 0.0 | 0.0 | 0.0 | 0.0 | | Retained Earnings | -543.3 | -522.2 | -282.8 | 128.5 | 428.4 | | Treasury Stock | -1.4 | -1.4 | -1.4 | -1.4 | -1.4 | | Other Equity Adjustments | 7.4 | 204.5 | 132.7 | 10.1 | -14.3 | | Total Capitalization | 3,543.8 | 3,284.9 | 2,747.2 | 2,797.4 | 3,854.7 | | Total Equity | 823.5 | 850.8 | 1,051.9 | 1,360.2 | 1,656.6 | | Total Liabilities & Stock Equity | 5,177.3 | 4,781.7 | 4,724.3 | 4,587.6 | 5,973.7 | | * | | Cash Flow | -319.9 | 308.2 | 510.3 | 719.1 | 671.5 | | Working Capital | 987.5 | 766.7 | 522.8 | 695.0 | 1,585.3 | | Free Cash Flow | -154.1 | 209.1 | 296.0 | 168.5 | -42.5 | | Invested Capital | 3,543.8 | 3,284.9 | 2,747.2 | 2,797.4 | 3,854.7 | | * | | Shares Out (Common Class Only) | 74.1 | 74.2 | 75.9 | 76.9 | 78.5 | | Preferred Shares | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | | Total Ordinary Shares | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | | Total Common Shares Out | 74.1 | 74.2 | 75.9 | 76.9 | 78.5 | | Treasury Shares | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | | Basic Weighted Shares | 74.0 | 74.1 | 75.0 | 76.6 | 77.7 | | Diluted Weighted Shares | 74.0 | 74.9 | 78.1 | 79.9 | 79.9 | | Number Of Employees | 10200 | 9500 | 9600 | 9700 | 10200 |
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