v3.26.3
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 321 311       311   10
Other comprehensive income (loss) 52 51         51 1
Dividend payments of consolidated affiliates to minority shareholders (28)             (28)
Net transfers from Former Parent (66) (66)       (66)    
Share-based compensation 24 24       24    
Ending balance (in shares) at Sep. 30, 2025     0          
Ending balance at Sep. 30, 2025 2,025 1,844 $ 0 0 0 2,134 (290) 181
Beginning balance (in shares) at Jun. 30, 2025     0          
Beginning balance at Jun. 30, 2025 2,115 1,932 $ 0 0 0 2,217 (285) 183
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 113 109       109   4
Other comprehensive income (loss) (5) (5)         (5) 0
Dividend payments of consolidated affiliates to minority shareholders (6)             (6)
Net transfers from Former Parent (200) (200)       (200)    
Share-based compensation 8 8       8    
Ending balance (in shares) at Sep. 30, 2025     0          
Ending balance at Sep. 30, 2025 2,025 1,844 $ 0 0 0 2,134 (290) 181
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 309 298     220 78   11
Other comprehensive income (loss) 50 39         39 11
Dividends on ordinary shares (9) (9)     (9)      
Dividend payments of consolidated affiliates to minority shareholders (4)             (4)
Taxes withheld on employees' restricted share award vestings (2) (2)   (2)        
Net transfers from Former Parent 44 44       17 27  
Share-based compensation 28 28   20   8    
Spin-off related adjustments (7) (7)   (7)        
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 Sep. 30, 2026     71          
Ending balance at Sep. 30, 2026 363 154 $ 1 144 211 0 (202) 209
Beginning balance (in shares) at Jun. 30, 2026     71          
Beginning balance at Jun. 30, 2026 284 85 $ 1 143 118 0 (177) 199
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 112 102     102     10
Other comprehensive income (loss) (25) (25)         (25) 0
Dividends on ordinary shares (9) (9)     (9)      
Taxes withheld on employees' restricted share award vestings (1) (1)   (1)        
Share-based compensation 9 9   9        
Spin-off related adjustments (7) (7)   (7)        
Ending balance (in shares) at Sep. 30, 2026     71          
Ending balance at Sep. 30, 2026 $ 363 $ 154 $ 1 $ 144 $ 211 $ 0 $ (202) $ 209