v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Accumulated Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2023   106,000,000        
Beginning balance, value at Dec. 31, 2023 $ 2,115 $ 1 $ 1,504 $ 593 $ 17 $ 0
Increase (Decrease) in Equity [Roll Forward]            
Acquisition of third-party equity interest in consolidated entity 158         158
Net (loss) income (2)     (4)   2
Activity related to share-based compensation (in shares)   1,000,000        
Activity related to share-based compensation (4)   (4)      
Foreign currency translation adjustments, net of tax (6)       (6)  
Derivative instrument adjustments, net of tax 4       4  
Repurchase and retirement of common stock (in shares)   (2,000,000)        
Repurchase and retirement of common stock (101)   (33) (68)    
Ending balance (in shares) at Mar. 31, 2024   105,000,000        
Ending balance, value at Mar. 31, 2024 2,164 $ 1 1,467 521 15 160
Beginning balance (in shares) at Dec. 31, 2023   106,000,000        
Beginning balance, value at Dec. 31, 2023 2,115 $ 1 1,504 593 17 0
Increase (Decrease) in Equity [Roll Forward]            
Foreign currency translation adjustments, net of tax (15)          
Ending balance (in shares) at Jun. 30, 2024   102,000,000        
Ending balance, value at Jun. 30, 2024 2,080 $ 1 1,456 456 5 162
Beginning balance (in shares) at Mar. 31, 2024   105,000,000        
Beginning balance, value at Mar. 31, 2024 2,164 $ 1 1,467 521 15 160
Increase (Decrease) in Equity [Roll Forward]            
Net (loss) income 4     2   2
Activity related to share-based compensation 17   17      
Employee stock plan issuance 5   5      
Foreign currency translation adjustments, net of tax (9)       (9)  
Derivative instrument adjustments, net of tax (1)       (1)  
Repurchase and retirement of common stock (in shares)   (3,000,000)        
Repurchase and retirement of common stock (100)   (33) (67)    
Ending balance (in shares) at Jun. 30, 2024   102,000,000        
Ending balance, value at Jun. 30, 2024 $ 2,080 $ 1 1,456 456 5 162
Beginning balance (in shares) at Dec. 31, 2024 96,720,179 97,000,000        
Beginning balance, value at Dec. 31, 2024 $ 1,895 $ 1 1,399 352 0 143
Increase (Decrease) in Equity [Roll Forward]            
Net (loss) income (12)     (17)   5
Activity related to share-based compensation 5   5      
Foreign currency translation adjustments, net of tax (1)       (1)  
Derivative instrument adjustments, net of tax (6)       (6)  
Repurchase and retirement of common stock (in shares)   (4,000,000)        
Repurchase and retirement of common stock (150)   (53) (97)    
Ending balance (in shares) at Mar. 31, 2025   93,000,000        
Ending balance, value at Mar. 31, 2025 $ 1,731 $ 1 1,351 238 (7) 148
Beginning balance (in shares) at Dec. 31, 2024 96,720,179 97,000,000        
Beginning balance, value at Dec. 31, 2024 $ 1,895 $ 1 1,399 352 0 143
Increase (Decrease) in Equity [Roll Forward]            
Foreign currency translation adjustments, net of tax $ 5          
Ending balance (in shares) at Jun. 30, 2025 89,458,267 89,000,000        
Ending balance, value at Jun. 30, 2025 $ 1,640 $ 1 1,326 167 (5) 151
Beginning balance (in shares) at Mar. 31, 2025   93,000,000        
Beginning balance, value at Mar. 31, 2025 1,731 $ 1 1,351 238 (7) 148
Increase (Decrease) in Equity [Roll Forward]            
Net (loss) income 28     25   3
Activity related to share-based compensation 24   24      
Employee stock plan issuance 8   8      
Foreign currency translation adjustments, net of tax 6       6  
Derivative instrument adjustments, net of tax (4)       (4)  
Repurchase and retirement of common stock (in shares)   (4,000,000)        
Repurchase and retirement of common stock $ (153)   (57) (96)    
Ending balance (in shares) at Jun. 30, 2025 89,458,267 89,000,000        
Ending balance, value at Jun. 30, 2025 $ 1,640 $ 1 $ 1,326 $ 167 $ (5) $ 151