Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Equity (Unaudited)

v3.22.2.2
Condensed Consolidated and Combined Statements of Equity (Unaudited) - USD ($)
Total
Common Stock
Treasury Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Loss
Balance as of beginning of period, shares at Dec. 31, 2020   93,000,000        
Balance as of beginning of period, value at Dec. 31, 2020 $ 963,000,000 $ 1,000,000 $ (408,000,000) $ 1,504,000,000 $ (82,000,000) $ (52,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 24,000,000       24,000,000  
Period change 14,000,000         14,000,000
Dividends (15,000,000)       (15,000,000)  
Net share settlement of incentive equity awards (5,000,000)     (5,000,000)    
Change in deferred compensation 5,000,000     5,000,000    
Exercise of stock options 4,000,000     4,000,000    
Other 1,000,000       1,000,000  
Ending balance, shares at Mar. 31, 2021   93,000,000        
Balance as of end of period, value at Mar. 31, 2021 991,000,000 $ 1,000,000 (408,000,000) 1,508,000,000 (72,000,000) (38,000,000)
Balance as of beginning of period, shares at Dec. 31, 2020   93,000,000        
Balance as of beginning of period, value at Dec. 31, 2020 963,000,000 $ 1,000,000 (408,000,000) 1,504,000,000 (82,000,000) (52,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 195,000,000          
Period change 22,000,000          
Ending balance, shares at Sep. 30, 2021   93,000,000        
Balance as of end of period, value at Sep. 30, 2021 1,123,000,000 $ 1,000,000 (436,000,000) 1,527,000,000 61,000,000 (30,000,000)
Balance as of beginning of period, shares at Mar. 31, 2021   93,000,000        
Balance as of beginning of period, value at Mar. 31, 2021 991,000,000 $ 1,000,000 (408,000,000) 1,508,000,000 (72,000,000) (38,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 68,000,000       68,000,000  
Period change 5,000,000         5,000,000
Dividends (15,000,000)       (15,000,000)  
Net share settlement of incentive equity awards (1,000,000)     (1,000,000)    
Change in deferred compensation 8,000,000     8,000,000    
Exercise of stock options 4,000,000     4,000,000    
Ending balance, shares at Jun. 30, 2021   94,000,000        
Balance as of end of period, value at Jun. 30, 2021 1,060,000,000 $ 1,000,000 (408,000,000) 1,519,000,000 (19,000,000) (33,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of shares for restricted stock units vesting 0          
Issuance of shares for restricted stock units vesting (shares)   1,000,000        
Net income 103,000,000       103,000,000  
Period change 3,000,000          
Dividends (23,000,000)       (23,000,000)  
Stock Repurchased During Period, Shares   (1,000,000)        
Stock Repurchased During Period, Value (27,000,000)   (27,000,000)      
Net share settlement of incentive equity awards (1,000,000)     (1,000,000)    
Change in deferred compensation 8,000,000     8,000,000    
Other 0   (1,000,000) 1,000,000    
Ending balance, shares at Sep. 30, 2021   93,000,000        
Balance as of end of period, value at Sep. 30, 2021 1,123,000,000 $ 1,000,000 (436,000,000) 1,527,000,000 61,000,000 (30,000,000)
Balance as of beginning of period, shares at Dec. 31, 2021   92,000,000        
Balance as of beginning of period, value at Dec. 31, 2021 1,089,000,000 $ 1,000,000 (519,000,000) 1,543,000,000 79,000,000 (15,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 106,000,000       106,000,000  
Period change 31,000,000         31,000,000
Dividends (30,000,000)       (30,000,000)  
Stock Repurchased During Period, Value (38,000,000)   (38,000,000)      
Net share settlement of incentive equity awards (9,000,000)     (9,000,000)    
Change in deferred compensation 8,000,000     8,000,000    
Exercise of stock options 2,000,000     2,000,000    
Ending balance, shares at Mar. 31, 2022   92,000,000        
Balance as of end of period, value at Mar. 31, 2022 1,159,000,000 $ 1,000,000 (557,000,000) 1,544,000,000 155,000,000 16,000,000
Balance as of beginning of period, shares at Dec. 31, 2021   92,000,000        
Balance as of beginning of period, value at Dec. 31, 2021 1,089,000,000 $ 1,000,000 (519,000,000) 1,543,000,000 79,000,000 (15,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 299,000,000          
Period change 50,000,000          
Ending balance, shares at Sep. 30, 2022   88,000,000        
Balance as of end of period, value at Sep. 30, 2022 1,056,000,000 $ 1,000,000 (831,000,000) 1,561,000,000 290,000,000 35,000,000
Balance as of beginning of period, shares at Mar. 31, 2022   92,000,000        
Balance as of beginning of period, value at Mar. 31, 2022 1,159,000,000 $ 1,000,000 (557,000,000) 1,544,000,000 155,000,000 16,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 92,000,000       92,000,000  
Period change 7,000,000         7,000,000
Dividends $ (29,000,000)       (29,000,000)  
Stock Repurchased During Period, Shares (2,000,000)          
Stock Repurchased During Period, Value $ (142,000,000)   (142,000,000)      
Net share settlement of incentive equity awards (2,000,000)     (2,000,000)    
Change in deferred compensation 9,000,000     9,000,000    
Exercise of stock options 2,000,000     2,000,000    
Ending balance, shares at Jun. 30, 2022   90,000,000        
Balance as of end of period, value at Jun. 30, 2022 1,096,000,000 $ 1,000,000 (699,000,000) 1,553,000,000 218,000,000 23,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 101,000,000       101,000,000  
Period change 12,000,000         12,000,000
Dividends $ (29,000,000)       (29,000,000)  
Stock Repurchased During Period, Shares (2,000,000)          
Stock Repurchased During Period, Value $ (132,000,000)   (132,000,000)      
Change in deferred compensation 8,000,000     8,000,000    
Ending balance, shares at Sep. 30, 2022   88,000,000        
Balance as of end of period, value at Sep. 30, 2022 $ 1,056,000,000 $ 1,000,000 $ (831,000,000) $ 1,561,000,000 $ 290,000,000 $ 35,000,000