v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) - USD ($)
$ in Millions
Total
Ordinary shares
Treasury shares
Accumulated other comprehensive income / (loss)
Additional paid in capital
Retained earnings
Non-controlling interests
Equity, beginning balance (in shares) at Dec. 31, 2024   143,523,308          
Equity, beginning balance at Dec. 31, 2024 $ 727 $ 4 $ (51) $ (14) $ 674 $ 93 $ 21
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 38         37 1
Other comprehensive loss 11     11      
Total comprehensive (loss) / income 49     11   37 1
Share-based compensation 6       6    
Repurchase of ordinary shares (in shares)   (1,421,058)          
Repurchase of ordinary shares (15)   (15)        
Allocation of treasury shares to share-based compensation plan vested (in shares)   815,749          
Allocation of treasury shares to share-based compensation plan vested 0   12     (12)  
Other 0     2   (2)  
Transactions with non-controlling interests (2)           (2)
Equity, ending balance (in shares) at Mar. 31, 2025   142,917,999          
Equity, ending balance at Mar. 31, 2025 765 $ 4 (54) (1) 680 116 20
Equity, beginning balance (in shares) at Dec. 31, 2024   143,523,308          
Equity, beginning balance at Dec. 31, 2024 727 $ 4 (51) (14) 674 93 21
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 74            
Other comprehensive loss 39            
Total comprehensive (loss) / income 113            
Equity, ending balance (in shares) at Jun. 30, 2025   139,539,023          
Equity, ending balance at Jun. 30, 2025 799 $ 4 (89) 26 687 152 19
Equity, beginning balance (in shares) at Mar. 31, 2025   142,917,999          
Equity, beginning balance at Mar. 31, 2025 765 $ 4 (54) (1) 680 116 20
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 36         36  
Other comprehensive loss 28     27     1
Total comprehensive (loss) / income 64     27   36 1
Share-based compensation 7       7    
Repurchase of ordinary shares (in shares)   (3,378,976)          
Repurchase of ordinary shares (35)   (35)        
Allocation of treasury shares to share-based compensation plan vested 0            
Other 0            
Transactions with non-controlling interests (2)           (2)
Equity, ending balance (in shares) at Jun. 30, 2025   139,539,023          
Equity, ending balance at Jun. 30, 2025 $ 799 $ 4 (89) 26 687 152 19
Equity, beginning balance (in shares) at Dec. 31, 2025 135,424,702 135,424,702          
Equity, beginning balance at Dec. 31, 2025 $ 971 $ 4 (153) 54 693 354 19
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 196         199 (3)
Other comprehensive loss (15)     (15)      
Total comprehensive (loss) / income 181     (15)   199 (3)
Share-based compensation 11       11    
Repurchase of ordinary shares (in shares)   (1,152,075)          
Repurchase of ordinary shares (28)   (28)        
Allocation of treasury shares to share-based compensation plan vested (in shares)   1,877,823          
Allocation of treasury shares to share-based compensation plan vested 0   24     (24)  
Transactions with non-controlling interests (3)           (3)
Equity, ending balance (in shares) at Mar. 31, 2026   136,150,450          
Equity, ending balance at Mar. 31, 2026 $ 1,132 $ 4 (157) 39 704 529 13
Equity, beginning balance (in shares) at Dec. 31, 2025 135,424,702 135,424,702          
Equity, beginning balance at Dec. 31, 2025 $ 971 $ 4 (153) 54 693 354 19
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 344            
Other comprehensive loss (22)            
Total comprehensive (loss) / income $ 322            
Equity, ending balance (in shares) at Jun. 30, 2026 135,527,728 135,527,728          
Equity, ending balance at Jun. 30, 2026 $ 1,254 $ 4 (177) 34 712 673 8
Equity, beginning balance (in shares) at Mar. 31, 2026   136,150,450          
Equity, beginning balance at Mar. 31, 2026 1,132 $ 4 (157) 39 704 529 13
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 148         146 2
Other comprehensive loss (7)     (7)      
Total comprehensive (loss) / income 141     (7)   146 2
Share-based compensation 8       8    
Repurchase of ordinary shares (in shares)   (622,722)          
Repurchase of ordinary shares (20)   (20)        
Allocation of treasury shares to share-based compensation plan vested 0            
Other (3)     2   (2) (3)
Transactions with non-controlling interests $ (4)           (4)
Equity, ending balance (in shares) at Jun. 30, 2026 135,527,728 135,527,728          
Equity, ending balance at Jun. 30, 2026 $ 1,254 $ 4 $ (177) $ 34 $ 712 $ 673 $ 8