v3.26.1
CONSOLIDATED INTERIM STATEMENTS OF EQUITY (DEFICIT) (UNAUDITED) - USD ($)
$ in Millions
Total
Common Stock
Treasury Stock
Additional Paid-in Capital
Retained Deficit
Accumulated Other Comprehensive (Loss) / Income
Common stock, beginning balance (in shares) at Dec. 31, 2024 [1]   241,000,000        
Beginning balance at Dec. 31, 2024 $ (673) $ 0 $ (306) $ 1,213 $ (1,653) $ 73
Treasury stock, beginning balance (in shares) at Dec. 31, 2024     35,000,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 62       62  
Share repurchases (in shares)     3,000,000      
Share repurchases (30)   $ (30)      
Excise tax on share repurchases 0          
Shares issued under stock plan, net of shares withheld for employee taxes (in shares) [1]   1,000,000        
Shares issued under stock plan, net of shares withheld for employee taxes (3)   (3)      
Other comprehensive income/(loss), net of tax (62)         (62)
Stock-based compensation 6     6    
Common stock, ending balance (in shares) at Mar. 31, 2025 [1]   242,000,000        
Ending balance at Mar. 31, 2025 (700) $ 0 $ (339) 1,219 (1,591) 11
Treasury stock, ending balance (in shares) at Mar. 31, 2025     38,000,000      
Common stock, beginning balance (in shares) at Dec. 31, 2024 [1]   241,000,000        
Beginning balance at Dec. 31, 2024 (673) $ 0 $ (306) 1,213 (1,653) 73
Treasury stock, beginning balance (in shares) at Dec. 31, 2024     35,000,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 149          
Other comprehensive income/(loss), net of tax (232)          
Common stock, ending balance (in shares) at Jun. 30, 2025 [1]   242,000,000        
Ending balance at Jun. 30, 2025 (812) $ 0 $ (362) 1,226 (1,517) (159)
Treasury stock, ending balance (in shares) at Jun. 30, 2025     41,000,000      
Common stock, beginning balance (in shares) at Mar. 31, 2025 [1]   242,000,000        
Beginning balance at Mar. 31, 2025 (700) $ 0 $ (339) 1,219 (1,591) 11
Treasury stock, beginning balance (in shares) at Mar. 31, 2025     38,000,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 87       87  
Share repurchases (in shares)     3,000,000      
Share repurchases (22)   $ (22)      
Excise tax on share repurchases 0          
Shares issued under stock plan, net of shares withheld for employee taxes (1)   (1)      
Other comprehensive income/(loss), net of tax (170)         (170)
Dividends (13)       (13)  
Stock-based compensation 7     7    
Common stock, ending balance (in shares) at Jun. 30, 2025 [1]   242,000,000        
Ending balance at Jun. 30, 2025 (812) $ 0 $ (362) 1,226 (1,517) (159)
Treasury stock, ending balance (in shares) at Jun. 30, 2025     41,000,000      
Common stock, beginning balance (in shares) at Dec. 31, 2025 [1]   243,000,000        
Beginning balance at Dec. 31, 2025 $ (802) $ 0 $ (520) 1,240 (1,384) (138)
Treasury stock, beginning balance (in shares) at Dec. 31, 2025 51,993,388   52,000,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 95       95  
Share repurchases (in shares)     4,000,000      
Share repurchases (87)   $ (87)      
Excise tax on share repurchases (1)   $ (1)      
Shares issued under stock plan, net of shares withheld for employee taxes (in shares)   2,000,000 [1] 1,000,000      
Shares issued under stock plan, net of shares withheld for employee taxes (17)   $ (17)      
Other comprehensive income/(loss), net of tax 40         40
Dividends (16)       (16)  
Stock-based compensation 7     7    
Common stock, ending balance (in shares) at Mar. 31, 2026 [1]   245,000,000        
Ending balance at Mar. 31, 2026 (781) $ 0 $ (625) 1,247 (1,305) (98)
Treasury stock, ending balance (in shares) at Mar. 31, 2026     57,000,000      
Common stock, beginning balance (in shares) at Dec. 31, 2025 [1]   243,000,000        
Beginning balance at Dec. 31, 2025 $ (802) $ 0 $ (520) 1,240 (1,384) (138)
Treasury stock, beginning balance (in shares) at Dec. 31, 2025 51,993,388   52,000,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 196          
Other comprehensive income/(loss), net of tax 84          
Common stock, ending balance (in shares) at Jun. 30, 2026 [1]   245,000,000        
Ending balance at Jun. 30, 2026 $ (675) $ 0 $ (655) 1,254 (1,220) (54)
Treasury stock, ending balance (in shares) at Jun. 30, 2026 58,666,936   58,000,000      
Common stock, beginning balance (in shares) at Mar. 31, 2026 [1]   245,000,000        
Beginning balance at Mar. 31, 2026 $ (781) $ 0 $ (625) 1,247 (1,305) (98)
Treasury stock, beginning balance (in shares) at Mar. 31, 2026     57,000,000      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 101       101  
Share repurchases (in shares)     1,000,000      
Share repurchases (28)   $ (28)      
Excise tax on share repurchases 1   1      
Shares issued under stock plan, net of shares withheld for employee taxes (3)   (3)      
Other comprehensive income/(loss), net of tax 44         44
Dividends (16)       (16)  
Stock-based compensation 7     7    
Common stock, ending balance (in shares) at Jun. 30, 2026 [1]   245,000,000        
Ending balance at Jun. 30, 2026 $ (675) $ 0 $ (655) $ 1,254 $ (1,220) $ (54)
Treasury stock, ending balance (in shares) at Jun. 30, 2026 58,666,936   58,000,000      
[1] Common shares issued less treasury shares equals common shares outstanding