Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Equity (Unaudited)

v3.23.3
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 299          
Period change 50          
Ending balance, shares at Sep. 30, 2022   88,000,000        
Balance as of end of period, value at Sep. 30, 2022 1,056 $ 1 1,561 290 35 (831)
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)          
Net income $ 101     101    
Period change 12       12  
Dividends (29)     (29)    
Repurchase of common stock (132)         (132)
APIC, Share-Based Payment Arrangement, Other, Increase for Cost Recognition 8   8      
Ending balance, shares at Sep. 30, 2022   88,000,000        
Balance as of end of period, value at Sep. 30, 2022 $ 1,056 $ 1 1,561 290 35 (831)
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   1,569 354 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 240          
Period change (4)          
Ending balance, shares at Sep. 30, 2023   83,000,000        
Balance as of end of period, value at Sep. 30, 2023 856 $ 1 1,588 467 34 (1,234)
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   1,569 354 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)          
Net income $ 103     103    
Period change (2)       (2)  
Dividends (29)     (29)    
Repurchase of common stock (105)         (105)
APIC, Share-Based Payment Arrangement, Other, Increase for Cost Recognition 10   10      
Stockholders' Equity, Other (1)     (1)    
Ending balance, shares at Sep. 30, 2023   83,000,000        
Balance as of end of period, value at Sep. 30, 2023 $ 856 $ 1 $ 1,588 $ 467 $ 34 $ (1,234)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Stock Repurchased During Period, Shares (1,000,000)