v3.26.3
UNAUDITED CONDENSED STATEMENTS OF EQUITY - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Former Parent Investment
Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2024   0        
Beginning balance at Dec. 31, 2024 $ 11,683 $ 0 $ 0 $ 0 $ 11,680 $ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Comprehensive income (loss), net of tax 57       58 (1)
Net increase (decrease) in Former Parent Investment (44)       (44)  
Ending balance (in shares) at Mar. 31, 2025   0        
Ending balance at Mar. 31, 2025 11,696 $ 0 0 0 11,694 2
Beginning balance (in shares) at Dec. 31, 2024   0        
Beginning balance at Dec. 31, 2024 11,683 $ 0 0 0 11,680 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 194          
Ending balance (in shares) at Sep. 30, 2025   0        
Ending balance at Sep. 30, 2025 11,560 $ 0 0 0 11,561 (1)
Beginning balance (in shares) at Mar. 31, 2025   0        
Beginning balance at Mar. 31, 2025 11,696 $ 0 0 0 11,694 2
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Comprehensive income (loss), net of tax 58       65 (7)
Net increase (decrease) in Former Parent Investment (137)       (137)  
Ending balance (in shares) at Jun. 30, 2025   0        
Ending balance at Jun. 30, 2025 11,617 $ 0 0 0 11,622 (5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 71          
Comprehensive income (loss), net of tax 75       71 4
Net increase (decrease) in Former Parent Investment (132)       (132)  
Ending balance (in shares) at Sep. 30, 2025   0        
Ending balance at Sep. 30, 2025 $ 11,560 $ 0 0 0 11,561 (1)
Beginning balance (in shares) at Dec. 31, 2025 0 0        
Beginning balance at Dec. 31, 2025 $ 11,485 $ 0 0 0 11,489 (4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Comprehensive income (loss), net of tax 56       55 1
Net increase (decrease) in Former Parent Investment 42       42  
Ending balance (in shares) at Mar. 31, 2026   0        
Ending balance at Mar. 31, 2026 $ 11,583 $ 0 0 0 11,586 (3)
Beginning balance (in shares) at Dec. 31, 2025 0 0        
Beginning balance at Dec. 31, 2025 $ 11,485 $ 0 0 0 11,489 (4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 150          
Ending balance (in shares) at Sep. 30, 2026 294,840,885 295,000,000        
Ending balance at Sep. 30, 2026 $ 9,827 $ 3 9,777 24 0 23
Beginning balance (in shares) at Mar. 31, 2026   0        
Beginning balance at Mar. 31, 2026 11,583 $ 0 0 0 11,586 (3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Comprehensive income (loss), net of tax 58       53 5
Net increase (decrease) in Former Parent Investment (1,806)       (1,806)  
Ending balance (in shares) at Jun. 30, 2026   0        
Ending balance at Jun. 30, 2026 9,835 $ 0 0 0 9,833 2
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 42     42    
Comprehensive income (loss), net of tax (1)         (1)
Net transfers from Former Parent, including Separation adjustments (40)       (62) 22
Issuance of common stock in connection with the Separation and reclassification of Former Parent Investment (in shares)   295,000,000        
Issuance of common stock in connection with the Separation and reclassification of Former Parent Investment 0 $ 3 9,768   (9,771)  
Dividends to common stockholders (18)     (18)    
Stock-based compensation $ 9   9      
Ending balance (in shares) at Sep. 30, 2026 294,840,885 295,000,000        
Ending balance at Sep. 30, 2026 $ 9,827 $ 3 $ 9,777 $ 24 $ 0 $ 23