v3.25.2
CONSOLIDATED INTERIM STATEMENTS OF EQUITY (DEFICIT) (UNAUDITED) - USD ($)
$ in Millions
Total
Common Stock
Treasury Stock
Additional Paid-in Capital
Retained Deficit
Accumulated Other Comprehensive Income / (Loss)
Beginning balance (in shares) at Dec. 31, 2023 [1]   238,000,000        
Beginning balance at Dec. 31, 2023 $ (735) $ 0 $ 0 $ 1,190 $ (1,922) $ (3)
Beginning balance (in shares) at Dec. 31, 2023     0      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 66       66  
Stock repurchased (in shares)     12,000,000      
Share repurchases (109)   $ (109)      
Excise tax on share repurchases (1)   $ (1)      
Shares issued under stock plan, net of shares withheld for employee taxes (in shares)   2,000,000 [1] 1,000,000      
Shares issued under stock plan, net of shares withheld for employee taxes (5)   $ (5)      
Other comprehensive income/(loss), net of tax 41         41
Stock-based compensation 8     8    
Ending balance (in shares) at Mar. 31, 2024 [1]   240,000,000        
Ending balance at Mar. 31, 2024 (735) $ 0 $ (115) 1,198 (1,856) 38
Ending balance (in shares) at Mar. 31, 2024     13,000,000      
Beginning balance (in shares) at Dec. 31, 2023 [1]   238,000,000        
Beginning balance at Dec. 31, 2023 (735) $ 0 $ 0 1,190 (1,922) (3)
Beginning balance (in shares) at Dec. 31, 2023     0      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 130          
Other comprehensive income/(loss), net of tax 49          
Ending balance (in shares) at Jun. 30, 2024 [1]   241,000,000        
Ending balance at Jun. 30, 2024 (725) $ 0 $ (182) 1,203 (1,792) 46
Ending balance (in shares) at Jun. 30, 2024     20,000,000      
Beginning balance (in shares) at Mar. 31, 2024 [1]   240,000,000        
Beginning balance at Mar. 31, 2024 (735) $ 0 $ (115) 1,198 (1,856) 38
Beginning balance (in shares) at Mar. 31, 2024     13,000,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 64       64  
Stock repurchased (in shares)     7,000,000      
Share repurchases (65)   $ (65)      
Excise tax on share repurchases (1)   (1)      
Shares issued under stock plan, net of shares withheld for employee taxes (in shares) [1]   1,000,000        
Shares issued under stock plan, net of shares withheld for employee taxes (1)   (1)      
Other comprehensive income/(loss), net of tax 8         8
Stock-based compensation 5     5    
Ending balance (in shares) at Jun. 30, 2024 [1]   241,000,000        
Ending balance at Jun. 30, 2024 (725) $ 0 $ (182) 1,203 (1,792) 46
Ending balance (in shares) at Jun. 30, 2024     20,000,000      
Beginning balance (in shares) at Dec. 31, 2024 [1]   241,000,000        
Beginning balance at Dec. 31, 2024 $ (673) $ 0 $ (306) 1,213 (1,653) 73
Beginning balance (in shares) at Dec. 31, 2024 34,599,391   35,000,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 62       62  
Stock repurchased (in shares)     3,000,000      
Share repurchases (30)   $ (30)      
Shares issued under stock plan, net of shares withheld for employee taxes (in shares) [1]   1,000,000        
Shares issued under stock plan, net of shares withheld for employee taxes (3)   (3)      
Other comprehensive income/(loss), net of tax (62)         (62)
Stock-based compensation 6     6    
Ending balance (in shares) at Mar. 31, 2025 [1]   242,000,000        
Ending balance at Mar. 31, 2025 (700) $ 0 $ (339) 1,219 (1,591) 11
Ending balance (in shares) at Mar. 31, 2025     38,000,000      
Beginning balance (in shares) at Dec. 31, 2024 [1]   241,000,000        
Beginning balance at Dec. 31, 2024 $ (673) $ 0 $ (306) 1,213 (1,653) 73
Beginning balance (in shares) at Dec. 31, 2024 34,599,391   35,000,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 149          
Share repurchases (52)          
Other comprehensive income/(loss), net of tax (232)          
Ending balance (in shares) at Jun. 30, 2025 [1]   242,000,000        
Ending balance at Jun. 30, 2025 $ (812) $ 0 $ (362) 1,226 (1,517) (159)
Ending balance (in shares) at Jun. 30, 2025 40,677,507   41,000,000      
Beginning balance (in shares) at Mar. 31, 2025 [1]   242,000,000        
Beginning balance at Mar. 31, 2025 $ (700) $ 0 $ (339) 1,219 (1,591) 11
Beginning balance (in shares) at Mar. 31, 2025     38,000,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 87       87  
Stock repurchased (in shares)     3,000,000      
Share repurchases (22)   $ (22)      
Shares issued under stock plan, net of shares withheld for employee taxes (1)   (1)      
Other comprehensive income/(loss), net of tax (170)         (170)
Dividends (13)       (13)  
Stock-based compensation 7     7    
Ending balance (in shares) at Jun. 30, 2025 [1]   242,000,000        
Ending balance at Jun. 30, 2025 $ (812) $ 0 $ (362) $ 1,226 $ (1,517) $ (159)
Ending balance (in shares) at Jun. 30, 2025 40,677,507   41,000,000      
[1] Common shares issued less treasury shares equals common shares outstanding