Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Equity (Unaudited)

v3.23.2
Condensed Consolidated and Combined Statements of Equity (Unaudited) - USD ($)
$ in Millions
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings, Appropriated [Member]
AOCI Attributable to Parent [Member]
Treasury Stock, Common
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 $ 1 $ 1,543 $ 79 $ (15) $ (519)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 106     106    
Period change 31       31  
Dividends (30)     (30)    
Repurchase of common stock (38)         (38)
Net share settlement of incentive equity awards (9)   (9)      
APIC, Share-Based Payment Arrangement, Other, Increase for Cost Recognition 8   8      
Stock Issued During Period, Value, Stock Options Exercised 2   2      
Ending balance, shares at Mar. 31, 2022   92,000,000        
Balance as of end of period, value at Mar. 31, 2022 1,159 $ 1 1,544 155 16 (557)
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 $ 1 1,543 79 (15) (519)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 198          
Period change 38          
Ending balance, shares at Jun. 30, 2022   90,000,000        
Balance as of end of period, value at Jun. 30, 2022 1,096 $ 1 1,553 218 23 (699)
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 $ 1 1,544 155 16 (557)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 92     92    
Period change 7       7  
Dividends (29)     (29)    
Repurchase of common stock (142)         (142)
Net share settlement of incentive equity awards (2)   (2)      
APIC, Share-Based Payment Arrangement, Other, Increase for Cost Recognition 9   9      
Stock Issued During Period, Value, Stock Options Exercised 2   2      
Ending balance, shares at Jun. 30, 2022   90,000,000        
Balance as of end of period, value at Jun. 30, 2022 $ 1,096 $ 1 1,553 218 23 (699)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock Repurchased During Period, Shares (2,000,000)          
Balance as of beginning of period, shares at Dec. 31, 2022   86,000,000        
Balance as of beginning of period, value at Dec. 31, 2022 $ 962 $ 1 1,569 318 38 (964)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 67     67    
Period change (6)       (6)  
Dividends (31)     (31)    
Repurchase of common stock (56)         (56)
Net share settlement of incentive equity awards (9)   (9)      
APIC, Share-Based Payment Arrangement, Other, Increase for Cost Recognition 9   9      
Ending balance, shares at Mar. 31, 2023   86,000,000        
Balance as of end of period, value at Mar. 31, 2023 936 $ 1 1,569 354 32 (1,020)
Balance as of beginning of period, shares at Dec. 31, 2022   86,000,000        
Balance as of beginning of period, value at Dec. 31, 2022 962 $ 1 1,569 318 38 (964)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 137          
Period change (2)          
Ending balance, shares at Jun. 30, 2023   84,000,000        
Balance as of end of period, value at Jun. 30, 2023 880 $ 1 1,578 394 36 (1,129)
Balance as of beginning of period, shares at Mar. 31, 2023   86,000,000        
Balance as of beginning of period, value at Mar. 31, 2023 936 $ 1 1,569 354 32 (1,020)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 70     70    
Period change 4       4  
Dividends (30)     (30)    
Repurchase of common stock (109)         (109)
APIC, Share-Based Payment Arrangement, Other, Increase for Cost Recognition 9   9      
Ending balance, shares at Jun. 30, 2023   84,000,000        
Balance as of end of period, value at Jun. 30, 2023 $ 880 $ 1 $ 1,578 $ 394 $ 36 $ (1,129)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock Repurchased During Period, Shares (2,000,000)