v3.26.1
CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) - USD ($)
$ in Millions
Total
Common Stock
[1]
Additional Paid-in Capital
Net Parent Investment
Accumulated Other Comprehensive Loss
Retained Earnings
Noncontrolling Interest
Beginning balance at Dec. 31, 2024 $ 3,182 $ 0 $ 0 $ 3,471 $ (213) $ 0 $ (76)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 239     231     8
Foreign exchange translation adjustment 88       88    
Pension and other postretirement benefit adjustments (2)       (2)    
Changes in fair value of cash flow hedges (37)       (37)    
Net transfers to Parent 3     4     (1)
Ending balance at Jun. 30, 2025 3,473 0 0 3,706 (164) 0 (69)
Beginning balance at Mar. 31, 2025 3,229 0 0 3,504 (203) 0 (72)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 99     97     2
Foreign exchange translation adjustment 66       66    
Pension and other postretirement benefit adjustments (1)       (1)    
Changes in fair value of cash flow hedges (26)       (26)    
Net transfers to Parent 106     105     1
Ending balance at Jun. 30, 2025 3,473 0 0 3,706 (164) 0 (69)
Beginning balance at Dec. 31, 2025 1,377 2 1,495 0 (127) 41 (34)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 239         204 35
Dividends ($0.15 per share) (24)         (24)  
Foreign exchange translation adjustment (15)       (15)    
Pension and other postretirement benefit adjustments 0            
Changes in fair value of cash flow hedges 0            
Stock-based compensation 11   11        
Ending balance at Jun. 30, 2026 1,588 2 1,506 0 (142) 220 2
Beginning balance at Mar. 31, 2026 1,473 2 1,500 0 (128) 113 (14)
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 134         119 15
Dividends ($0.15 per share) (12)         (12)  
Foreign exchange translation adjustment (11)       (11)    
Pension and other postretirement benefit adjustments 0            
Changes in fair value of cash flow hedges (2)       (2)    
Stock-based compensation 6   6        
Ending balance at Jun. 30, 2026 $ 1,588 $ 2 $ 1,506 $ 0 $ (142) $ 220 $ 2
[1] See Note 11 – Shareowners’ Equity of the Notes to the Consolidated Financial Statements for a rollforward of common stock.