v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Preferred Stock
Common Stock
Preferred Stock
Preferred Stock
Preferred Stock
Common Stock
Common Stock
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Common Stock
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Beginning balance at Dec. 31, 2024 $ 6,432     $ 217   $ 77   $ 3,130   $ (168) $ 3,176
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income (loss) 140                   140
Other comprehensive income (loss), net of income taxes 2                 2  
Cash dividends paid on common stock (19)                   (19)
Cash dividends declared on preferred stock (4)                   (4)
Restricted shares withheld for taxes and related tax benefit (6)             (6)      
Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes and related tax benefits (13)             (13)      
Compensation expense for restricted share awards, RSUs and PSUs 11             11      
Ending balance at Mar. 31, 2025 6,543     217   77   3,122   (166) 3,293
Beginning balance at Dec. 31, 2025 7,044     217   78   3,144   (123) 3,728
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income (loss) 150                   150
Other comprehensive income (loss), net of income taxes (102)                 (102)  
Cash dividends paid on common stock (75)                   (75)
Cash dividends declared on preferred stock [1] (15)                   (15)
Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes and related tax benefits (73)             (70)     (3)
Compensation expense for restricted share awards, RSUs and PSUs 90             90      
Issuance of stock related to merger   $ 564 $ 7,011   $ 564   $ 73   $ 6,938    
Ending balance at Mar. 31, 2026 $ 14,594     $ 781   $ 151   $ 10,102   $ (225) $ 3,785
[1] For the three months ended March 31, 2026, dividends per share were $0.46 for Series A, $0.52 for Series B, and $16.88 for Series C Preferred Stock.