v3.26.3
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) - USD ($)
$ in Millions
Total
Ordinary shares
Treasury shares
Accumulated other comprehensive income / (loss)
Additional paid in capital
Retained earnings
Non-controlling interests
Equity, beginning balance (in shares) at Dec. 31, 2024   143,523,308          
Equity, beginning balance at Dec. 31, 2024 $ 727 $ 4 $ (51) $ (14) $ 674 $ 93 $ 21
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 38         37 1
Other comprehensive (loss) / income 11     11      
Total comprehensive (loss) / income 49     11   37 1
Share-based compensation 6       6    
Repurchase of ordinary shares (in shares)   (1,421,058)          
Repurchase of ordinary shares (15)   (15)        
Allocation of treasury shares to share-based compensation plan vested (in shares)   815,749          
Allocation of treasury shares to share-based compensation plan vested 0   12     (12)  
Other 0     2   (2)  
Transactions with non-controlling interests (2)           (2)
Equity, ending balance (in shares) at Mar. 31, 2025   142,917,999          
Equity, ending balance at Mar. 31, 2025 765 $ 4 (54) (1) 680 116 20
Equity, beginning balance (in shares) at Dec. 31, 2024   143,523,308          
Equity, beginning balance at Dec. 31, 2024 727 $ 4 (51) (14) 674 93 21
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 162            
Other comprehensive (loss) / income 34            
Total comprehensive (loss) / income 196            
Equity, ending balance (in shares) at Sep. 30, 2025   137,801,779          
Equity, ending balance at Sep. 30, 2025 863 $ 4 (114) 21 694 240 18
Equity, beginning balance (in shares) at Mar. 31, 2025   142,917,999          
Equity, beginning balance at Mar. 31, 2025 765 $ 4 (54) (1) 680 116 20
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 36         36  
Other comprehensive (loss) / income 28     27     1
Total comprehensive (loss) / income 64     27   36 1
Share-based compensation 7       7    
Repurchase of ordinary shares (in shares)   (3,378,976)          
Repurchase of ordinary shares (35)   (35)        
Transactions with non-controlling interests (2)           (2)
Equity, ending balance (in shares) at Jun. 30, 2025   139,539,023          
Equity, ending balance at Jun. 30, 2025 799 $ 4 (89) 26 687 152 19
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 88         88  
Other comprehensive (loss) / income (5)     (5)      
Total comprehensive (loss) / income 83     (5)   88 0
Share-based compensation 7       7    
Repurchase of ordinary shares (in shares)   (1,737,244)          
Repurchase of ordinary shares (25)   (25)        
Transactions with non-controlling interests (1)           (1)
Equity, ending balance (in shares) at Sep. 30, 2025   137,801,779          
Equity, ending balance at Sep. 30, 2025 $ 863 $ 4 (114) 21 694 240 18
Equity, beginning balance (in shares) at Dec. 31, 2025 135,424,702 135,424,702          
Equity, beginning balance at Dec. 31, 2025 $ 971 $ 4 (153) 54 693 354 19
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 196         199 (3)
Other comprehensive (loss) / income (15)     (15)      
Total comprehensive (loss) / income 181     (15)   199 (3)
Share-based compensation 11       11    
Repurchase of ordinary shares (in shares)   (1,152,075)          
Repurchase of ordinary shares (28)   (28)        
Allocation of treasury shares to share-based compensation plan vested (in shares)   1,877,823          
Allocation of treasury shares to share-based compensation plan vested 0   24     (24)  
Transactions with non-controlling interests (3)           (3)
Equity, ending balance (in shares) at Mar. 31, 2026   136,150,450          
Equity, ending balance at Mar. 31, 2026 $ 1,132 $ 4 (157) 39 704 529 13
Equity, beginning balance (in shares) at Dec. 31, 2025 135,424,702 135,424,702          
Equity, beginning balance at Dec. 31, 2025 $ 971 $ 4 (153) 54 693 354 19
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 463            
Other comprehensive (loss) / income (28)            
Total comprehensive (loss) / income $ 435            
Equity, ending balance (in shares) at Sep. 30, 2026 134,536,604 134,536,604          
Equity, ending balance at Sep. 30, 2026 $ 1,341 $ 4 (111) 28 623 790 7
Equity, beginning balance (in shares) at Mar. 31, 2026   136,150,450          
Equity, beginning balance at Mar. 31, 2026 1,132 $ 4 (157) 39 704 529 13
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 148         146 2
Other comprehensive (loss) / income (7)     (7)      
Total comprehensive (loss) / income 141     (7)   146 2
Share-based compensation 8       8    
Repurchase of ordinary shares (in shares)   (622,722)          
Repurchase of ordinary shares (20)   (20)        
Other (3)     2   (2) (3)
Transactions with non-controlling interests (4)           (4)
Equity, ending balance (in shares) at Jun. 30, 2026   135,527,728          
Equity, ending balance at Jun. 30, 2026 1,254 $ 4 (177) 34 712 673 8
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 119         117 2
Other comprehensive (loss) / income (6)     (6)      
Total comprehensive (loss) / income 113     (6)   117 2
Share-based compensation 8       8    
Repurchase of ordinary shares (in shares)   (1,044,441)          
Repurchase of ordinary shares (30)   (30)        
Allocation of treasury shares to share-based compensation plan vested (in shares)   53,317          
Allocation of treasury shares to share-based compensation plan vested 0            
Cancellation of treasury shares (1)   96   (97)    
Transactions with non-controlling interests $ (3)           (3)
Equity, ending balance (in shares) at Sep. 30, 2026 134,536,604 134,536,604          
Equity, ending balance at Sep. 30, 2026 $ 1,341 $ 4 $ (111) $ 28 $ 623 $ 790 $ 7