| Schedule of Shareholders' Equity |
The activity in equity during the three and six-month periods ended June 30, 2026 and 2025 was as follows (dollars in millions, except per share amounts):
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Common Stock |
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Accumulated
Other |
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Shares |
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Amount |
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Comprehensive
Loss |
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Retained Earnings |
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Total |
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Balances as of December 31, 2025 |
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115,559,079 |
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$ |
2,382 |
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$ |
(4 |
) |
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$ |
1,755 |
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$ |
4,133 |
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Issuances of shares pursuant to equity-based plans |
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169,951 |
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— |
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— |
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— |
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— |
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Issuance costs pursuant to equity agreements |
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— |
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(1 |
) |
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— |
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— |
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(1 |
) |
Deferred equity issuance costs |
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— |
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(8 |
) |
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— |
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— |
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(8 |
) |
Stock-based compensation |
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— |
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13 |
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— |
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— |
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13 |
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Dividends declared ($0.525 per share) |
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— |
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— |
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— |
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(62 |
) |
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(62 |
) |
Net income |
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— |
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— |
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— |
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45 |
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45 |
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Balances as of March 31, 2026 |
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115,729,030 |
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2,386 |
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(4 |
) |
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1,738 |
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4,120 |
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Issuances of shares pursuant to equity-based plans |
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29,224 |
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1 |
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— |
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— |
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1 |
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Stock-based compensation |
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— |
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(2 |
) |
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— |
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— |
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(2 |
) |
Dividends declared ($0.55125 per share) |
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— |
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— |
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— |
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(64 |
) |
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(64 |
) |
Net income |
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— |
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— |
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— |
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68 |
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|
68 |
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Balances as of June 30, 2026 |
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115,758,254 |
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$ |
2,385 |
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$ |
(4 |
) |
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$ |
1,742 |
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$ |
4,123 |
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Common Stock |
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Accumulated
Other |
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Shares |
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Amount |
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Comprehensive
Loss |
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Retained
Earnings |
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Total |
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Balances as of December 31, 2024 |
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109,342,251 |
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$ |
2,118 |
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$ |
(4 |
) |
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$ |
1,680 |
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$ |
3,794 |
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Issuances of shares pursuant to equity-based plans |
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161,074 |
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— |
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— |
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— |
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— |
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Stock-based compensation |
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— |
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5 |
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— |
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— |
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5 |
|
Dividends declared ($0.500 per share) |
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— |
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— |
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— |
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(55 |
) |
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(55 |
) |
Net income |
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— |
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— |
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— |
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|
100 |
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|
100 |
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Balances as of March 31, 2025 |
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109,503,325 |
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2,123 |
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(4 |
) |
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1,725 |
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3,844 |
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Issuances of shares pursuant to equity-based plans |
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58,563 |
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1 |
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— |
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— |
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1 |
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Stock-based compensation |
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— |
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3 |
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— |
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— |
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3 |
|
Dividends declared ($0.525 per share) |
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— |
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|
— |
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|
|
— |
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(58 |
) |
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(58 |
) |
Net income |
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— |
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— |
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— |
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|
62 |
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|
62 |
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Balances as of June 30, 2025 |
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109,561,888 |
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$ |
2,127 |
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$ |
(4 |
) |
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$ |
1,729 |
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$ |
3,852 |
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