v3.25.2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)
$ in Millions
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Treasury Stock, Common [Member]
AOCI Attributable to Parent [Member]
Total
Balance (in shares) at Dec. 31, 2023 109,000,000          
Balance at Dec. 31, 2023 $ 1 $ 1,768 $ (678) $ (375) $ (228) $ 488
Balance (in shares) at Dec. 31, 2023       (24,000,000)    
Net loss 0 0 19 $ 0 0 19
Shares withheld for taxes 0 (5) 0 0 0 (5)
Equity-based compensation expense 0 4 0 0 0 4
Net income 0 0 19 0 0 19
Foreign currency translation 0 0 0 0 (5) (5)
Dividends declared on preferred stock $ 0 0 (6) 0 0 (6)
Balance (in shares) at Mar. 31, 2024 109,000,000          
Balance at Mar. 31, 2024 $ 1 1,767 (665) $ (375) (233) 495
Balance (in shares) at Mar. 31, 2024       (24,000,000)    
Balance (in shares) at Dec. 31, 2023 109,000,000          
Balance at Dec. 31, 2023 $ 1 1,768 (678) $ (375) (228) 488
Balance (in shares) at Dec. 31, 2023       (24,000,000)    
Net loss           49
Foreign currency translation           (4)
Reclassification of foreign currency translation adjustments to net income as a result of the sale of Canada           0
Net income           49
Balance (in shares) at Jun. 30, 2024 109,000,000          
Balance at Jun. 30, 2024 $ 1 1,770 (641) $ (375) (232) 523
Balance (in shares) at Jun. 30, 2024       (24,000,000)    
Balance (in shares) at Mar. 31, 2024 109,000,000          
Balance at Mar. 31, 2024 $ 1 1,767 (665) $ (375) (233) 495
Balance (in shares) at Mar. 31, 2024       (24,000,000)    
Net loss 0 0 30 $ 0 0 30
Foreign currency translation           1
Reclassification of foreign currency translation adjustments to net income as a result of the sale of Canada           0
Equity-based compensation expense 0 3 0 0 0 3
Net income 0 0 30 0 0 30
Foreign currency translation 0 0 0 0 1 1
Dividends declared on preferred stock $ 0 0 (6) 0 0 (6)
Balance (in shares) at Jun. 30, 2024 109,000,000          
Balance at Jun. 30, 2024 $ 1 1,770 (641) $ (375) (232) 523
Balance (in shares) at Jun. 30, 2024       (24,000,000)    
Balance (in shares) at Dec. 31, 2024 109,000,000          
Balance at Dec. 31, 2024 $ 1 1,779 (652) $ (375) (237) $ 516
Balance (in shares) at Dec. 31, 2024       (24,000,000)   24,216,330
Net loss 0 0 (22) $ 0 0 $ (22)
Foreign currency translation 0 0 0 0 5 5
Reclassification of foreign currency translation adjustments to net income as a result of the sale of Canada $ 0 0 0 $ 0 28 28
Vesting of restricted stock (in shares) 1,000,000     0    
Shares withheld for taxes $ 0 (6) 0 $ 0 0 (6)
Equity-based compensation expense 0 4 0 0 0 4
Net income $ 0 0 (22) 0 0 (22)
Balance (in shares) at Mar. 31, 2025 110,000,000          
Balance at Mar. 31, 2025 $ 1 1,777 (674) $ (375) (204) 525
Balance (in shares) at Mar. 31, 2025       (24,000,000)    
Balance (in shares) at Dec. 31, 2024 109,000,000          
Balance at Dec. 31, 2024 $ 1 1,779 (652) $ (375) (237) $ 516
Balance (in shares) at Dec. 31, 2024       (24,000,000)   24,216,330
Net loss           $ (9)
Foreign currency translation           14
Reclassification of foreign currency translation adjustments to net income as a result of the sale of Canada           28
Net income           (9)
Balance (in shares) at Jun. 30, 2025 110,000,000          
Balance at Jun. 30, 2025 $ 1 1,781 (661) $ (390) (195) $ 536
Balance (in shares) at Jun. 30, 2025       (25,000,000)   25,433,286
Balance (in shares) at Mar. 31, 2025 110,000,000          
Balance at Mar. 31, 2025 $ 1 1,777 (674) $ (375) (204) $ 525
Balance (in shares) at Mar. 31, 2025       (24,000,000)    
Net loss 0 0 13 $ 0 0 13
Foreign currency translation           9
Reclassification of foreign currency translation adjustments to net income as a result of the sale of Canada           0
Equity-based compensation expense 0 4 0 0 0 4
Net income 0 0 13 $ 0 0 13
Common stock repurchased (in shares)       (1,000,000)    
Common stock repurchased       $ (15)   (15)
Foreign currency translation $ 0 0 0 0 9 9
Balance (in shares) at Jun. 30, 2025 110,000,000          
Balance at Jun. 30, 2025 $ 1 $ 1,781 $ (661) $ (390) $ (195) $ 536
Balance (in shares) at Jun. 30, 2025       (25,000,000)   25,433,286