v3.26.1
Consolidated Statement of Equity (Deficit) (Unaudited) - USD ($)
$ in Millions
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Accumulated Deficit [Member]
Accumulated Other Comprehensive Loss [Member]
Treasury Stock [Member]
Redeemable Convertible Preferred Stock [Member]
Balance at Dec. 31, 2024 $ 641   $ 1,150 $ (393) $ (104) $ (12) $ 218
Net earnings (loss) (7)     (7)      
Currency translation adjustments 6       6    
Pension and other postretirement liability adjustments (75)       (75)    
Preferred stock cash dividends (1)   (1)        
Preferred stock in-kind dividends (2)   (2)       2
Purchases of treasury stock [1] (1)         (1)  
Stock-based compensation 2   2        
Balance at Mar. 31, 2025 563   1,149 (400) (173) (13) 220
Balance at Dec. 31, 2024 641   1,150 (393) (104) (12) 218
Net earnings (loss) (33)            
Balance at Jun. 30, 2025 528   1,147 (426) (179) (14) 222
Balance at Mar. 31, 2025 563   1,149 (400) (173) (13) 220
Net earnings (loss) (26)     (26)      
Currency translation adjustments 7       7    
Pension and other postretirement liability adjustments (13)       (13)    
Preferred stock cash dividends (1)   (1)        
Preferred stock in-kind dividends (1)   (1)       1
Preferred stock deemed dividends (1)   (1)       1
Purchases of treasury stock [1] (1)         (1)  
Stock-based compensation 1   1        
Balance at Jun. 30, 2025 528   1,147 (426) (179) (14) 222
Balance at Dec. 31, 2025 614 $ 1 1,278 (521) (118) (26) 99
Net earnings (loss) (16)     (16)      
Currency translation adjustments 1       1    
Extinguishment of 4.0% Series B preferred stock 100   100       (100)
Issuance of 6.0% Series B preferred stock (102)   (102)       72
Preferred stock cash dividends (1)   (1)        
Preferred stock deemed dividends (1)   (1)       1
Purchases of treasury stock [1]     1     (1)  
Stock-based compensation 5   5        
Balance at Mar. 31, 2026 600 1 1,280 (537) (117) (27) 72
Balance at Dec. 31, 2025 614 1 1,278 (521) (118) (26) 99
Net earnings (loss) 1            
Balance at Jun. 30, 2026 623 1 1,286 (520) (115) (29) 74
Balance at Mar. 31, 2026 600 1 1,280 (537) (117) (27) 72
Net earnings (loss) 17     17      
Currency translation adjustments 3       3    
Pension and other postretirement liability adjustments (1)       (1)    
Preferred stock cash dividends (2)   (2)        
Preferred stock deemed dividends (2)   (2)       2
Purchases of treasury stock [1] (1)   1     (2)  
Stock-based compensation 9   9        
Balance at Jun. 30, 2026 $ 623 $ 1 $ 1,286 $ (520) $ (115) $ (29) $ 74
[1] Represents purchases of common stock to satisfy tax withholding obligations.