Treasury stock refers to the portion of a company's shares held in its own treasury. The shares are not included in the total number of outstanding shares listed, and neither pay dividends nor have voting rights (because a company cannot pay itself, or own itself).

Typically, treasury stock is either withheld from the general public when a company goes public or purchased from shareholders as part of a buyback. A buyback reduces the number of available shares in a company, which can raise the share price.

If a company owns treasury stock, it will be listed in the equity section of its balance sheet.

Treasury stock refers to shares of a company's own stock that it has previously issued and then repurchased. Unlike stocks held by investors, treasury stock is not considered outstanding and doesn't represent ownership in the company. Instead, it is held in the company's treasury, essentially taken off the market.

Companies may repurchase their own shares for various reasons, such as to signal confidence in their financial health, enhance earnings per share, or distribute surplus cash to shareholders. Treasury stock can also act as a strategic tool in thwarting hostile takeovers.

While these repurchased shares don't receive dividends or voting rights, they can be reissued or retired, affecting the company's capital structure. If reissued, they can raise capital; if retired, they reduce the number of outstanding shares, potentially increasing earnings per share. Companies disclose treasury stock on their balance sheets, providing transparency about their ownership structure and financial decisions.