v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($)
$ in Millions
Total
Common Shares ($1 par value)
Paid-In Capital
Retained (Deficit) Earnings
Accumulated Other Comprehensive Income
Noncontrolling Interest
Beginning balance at Dec. 31, 2024 $ (53) $ 212 $ 0 $ (693) $ 201 $ 227
Increase (Decrease) in Stockholders' Equity            
Total comprehensive income (loss) 234     186 27 21
Shares issued 2   1      
Shares retired:            
Repurchased (131) (2) (18) (111)    
Surrendered (non-cash) (8)     (8)    
Cash dividends declared (66)     (66)    
Stock-based compensation 17   17      
Ending balance at Mar. 31, 2025 (6) 211 0 (693) 228 248
Beginning balance at Dec. 31, 2024 (53) 212 0 (693) 201 227
Increase (Decrease) in Stockholders' Equity            
Total comprehensive income (loss) 594          
Ending balance at Jun. 30, 2025 150 209 0 (583) 289 234
Beginning balance at Mar. 31, 2025 (6) 211 0 (693) 228 248
Increase (Decrease) in Stockholders' Equity            
Total comprehensive income (loss) 360     270 61 29
Shares retired:            
Repurchased (102) (2) (5) (95)    
Cash dividends declared (65)     (65)    
Dividends declared to noncontrolling interest (42)         (42)
Stock-based compensation 5   5      
Ending balance at Jun. 30, 2025 150 209 0 (583) 289 234
Beginning balance at Dec. 31, 2025 76 204 0 (688) 298 261
Increase (Decrease) in Stockholders' Equity            
Total comprehensive income (loss) 201     213 (21) 8
Shares issued 15 1 14      
Shares retired:            
Repurchased (203) (3) (28) (173)    
Surrendered (non-cash) (10)     (10)    
Cash dividends declared (65)     (65)    
Stock-based compensation 13   13      
Ending balance at Mar. 31, 2026 27 202 0 (722) 278 269
Beginning balance at Dec. 31, 2025 76 204 0 (688) 298 261
Increase (Decrease) in Stockholders' Equity            
Total comprehensive income (loss) 536          
Ending balance at Jun. 30, 2026 (118) 197 6 (849) 280 247
Beginning balance at Mar. 31, 2026 27 202 0 (722) 278 269
Increase (Decrease) in Stockholders' Equity            
Total comprehensive income (loss) 335     318 3 14
Shares issued 8 0 7      
Shares retired:            
Repurchased (393) (5) (7) (382)    
Cash dividends declared (63)     (63)    
Dividends declared to noncontrolling interest (37)         (37)
Stock-based compensation 6   6      
Ending balance at Jun. 30, 2026 $ (118) $ 197 $ 6 $ (849) $ 280 $ 247