v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Unaudited) - USD ($)
shares in Millions, $ in Millions
Total
Total Versigent Shareholders’ Equity
Ordinary Shares
Additional Paid in Capital
Retained Earnings
Former Parent’s Net Investment
Accumulated Other Comprehensive Loss
Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2024     0          
Beginning balance at Dec. 31, 2024 $ 1,722 $ 1,524 $ 0 $ 0 $ 0 $ 1,865 $ (341) $ 198
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 208 202       202   6
Other comprehensive income 57 56         56 1
Dividend payments of consolidated affiliates to minority shareholders (22)             (22)
Net transfers from Former Parent 134 134       134    
Share-based compensation 16 16       16    
Ending balance (in shares) at Jun. 30, 2025     0          
Ending balance at Jun. 30, 2025 2,115 1,932 $ 0 0 0 2,217 (285) 183
Beginning balance (in shares) at Mar. 31, 2025     0          
Beginning balance at Mar. 31, 2025 1,881 1,682 $ 0 0 0 2,007 (325) 199
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 112 107       107   5
Other comprehensive income 41 40         40 1
Dividend payments of consolidated affiliates to minority shareholders (22)             (22)
Net transfers from Former Parent 95 95       95    
Share-based compensation 8 8       8    
Ending balance (in shares) at Jun. 30, 2025     0          
Ending balance at Jun. 30, 2025 2,115 1,932 $ 0 0 0 2,217 (285) 183
Beginning balance (in shares) at Dec. 31, 2025     0          
Beginning balance at Dec. 31, 2025 1,848 1,657 $ 0 0 0 1,925 (268) 191
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 197 196     118 78   1
Other comprehensive income 75 64         64 11
Taxes withheld on employees' restricted share award vestings (1) (1)   (1)        
Dividend payments of consolidated affiliates to minority shareholders (4)             (4)
Net transfers from Former Parent 44 44       17 27  
Share-based compensation 19 19   11   8    
Net transfers to and Cash distribution to Former Parent (1,894) (1,894)       (1,894)    
Reclassification of Former Parent’s net investment and issuance of ordinary shares in connection with separation (in shares)     71          
Reclassification of Former Parent’s net investment and issuance of ordinary shares in connection with separation 0   $ 1 133   (134)    
Ending balance (in shares) at Jun. 30, 2026     71          
Ending balance at Jun. 30, 2026 284 85 $ 1 143 118 0 (177) 199
Beginning balance (in shares) at Mar. 31, 2026     0          
Beginning balance at Mar. 31, 2026 143 (48) $ 0 0 0 164 (212) 191
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 116 118     118     (2)
Other comprehensive income 18 8         8 10
Taxes withheld on employees' restricted share award vestings (1) (1)   (1)        
Net transfers from Former Parent (9) (9)       (36) 27  
Share-based compensation 11 11   11        
Net transfers to and Cash distribution to Former Parent 6 6       6    
Reclassification of Former Parent’s net investment and issuance of ordinary shares in connection with separation (in shares)     71          
Reclassification of Former Parent’s net investment and issuance of ordinary shares in connection with separation 0   $ 1 133   (134)    
Ending balance (in shares) at Jun. 30, 2026     71          
Ending balance at Jun. 30, 2026 $ 284 $ 85 $ 1 $ 143 $ 118 $ 0 $ (177) $ 199