v3.26.1
Shareholders' Equity
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss) represents certain components of revenues, expenses, gains and losses that are included in comprehensive income (loss) but are excluded from net income (loss). Other comprehensive income (loss) amounts are recorded directly as an adjustment to total equity, net of tax. The changes in the accumulated other comprehensive loss, net of tax, were as follows:
(in $ millions)Currency
 translation
adjustments		Defined
 benefit plan
 related		Unrealized gain on
cash flow hedge 		Total accumulated
 other comprehensive
 loss
Balance as of December 31, 2025$(29)$(42)$(4)$(75)
Net changes during the period, net of tax benefit
(14)— 5 (9)
Balance as of March 31, 2026$(43)$(42)$1 $(84)

(in $ millions)Currency
translation
adjustments		Defined
benefit plan
related		Unrealized gain on
cash flow hedge 		Total accumulated
other comprehensive
loss
Balance as of December 31, 2024$(104)$(59)$17 $(146)
Net changes during the period, net of tax benefit
30(1)(15)14
Balance as of March 31, 2025$(74)$(60)$2 $(132)
The tax charge (benefit) for net changes related to (i) currency translation adjustments was $2 million and $(2) million for the three months ended March 31, 2026 and 2025, respectively, and (ii) unrealized gain on cash flow hedges was $2 million and $(4) million for the three months ended March 31, 2026 and 2025, respectively.
Amounts in accumulated other comprehensive loss are presented net of the related tax impact. Reclassifications out of accumulated other comprehensive losses related to amortization of (i) actuarial gains (losses) and prior service costs (component of net periodic pension benefit (cost)) is included within other income (loss), net, and (ii) gain (loss) on termination of cash flow hedges is included within interest expense, in the Company’s consolidated statements of operations.
Share Repurchase
During the three months ended March 31, 2026, the Company repurchased approximately 6 million shares of its Class A common stock at a cost of $38 million under its share repurchase program. As of March 31, 2026, $489 million remains available to be utilized until December 31, 2027 under the Company's share repurchase program.
Redeemable Non-Controlling Interest
Pursuant to the agreement to obtain control over Uvet GBT, the non-controlling shareholder has certain options to put the remaining 45% equity interest in Uvet GBT to the Company, which may be exercised from August 1, 2029 through December 31, 2031. The Company also has a call option to purchase the remaining noncontrolling interest of 45%, which may be exercised from August 1, 2029 through December 31, 2033, as set out in the agreement. The purchase price of the options is based on multiple of earnings, as adjusted for net debt, or at fair value, as provided in the agreement. Given these provisions within the options, the Company has classified the redeemable non-controlling interest as mezzanine equity on the Company's consolidated balance sheets, outside of permanent equity. As of March 31, 2026, redeemable non-controlling interest amounted to $50 million.