Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Equity (Unaudited)

v3.24.3
Condensed Consolidated and Combined Statements of Equity (Unaudited) - USD ($)
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings
AOCI Attributable to Parent [Member]
Treasury Stock, Common
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 $ 962,000,000 $ 1,000,000 $ 1,569,000,000 $ 318,000,000 $ 38,000,000 $ (964,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 67,000,000     67,000,000    
Period change (6,000,000)       (6,000,000)  
Dividends (31,000,000)     (31,000,000)    
Repurchase of common stock (56,000,000)         (56,000,000)
Net share settlement of incentive equity awards (9,000,000)   (9,000,000)      
Change in deferred compensation 9,000,000   9,000,000      
Ending balance, shares at Mar. 31, 2023   86,000,000        
Balance as of end of period, value at Mar. 31, 2023 936,000,000 $ 1,000,000 1,569,000,000 354,000,000 32,000,000 (1,020,000,000)
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 962,000,000 $ 1,000,000 1,569,000,000 318,000,000 38,000,000 (964,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 240,000,000          
Period change (4,000,000)          
Ending balance, shares at Sep. 30, 2023   83,000,000        
Balance as of end of period, value at Sep. 30, 2023 856,000,000 $ 1,000,000 1,588,000,000 467,000,000 34,000,000 (1,234,000,000)
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 936,000,000 $ 1,000,000 1,569,000,000 354,000,000 32,000,000 (1,020,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 70,000,000     70,000,000    
Period change 4,000,000       4,000,000  
Dividends $ (30,000,000)     (30,000,000)    
Repurchase of common stock (in shares) (2,000,000)          
Repurchase of common stock $ (109,000,000)         (109,000,000)
Change in deferred compensation 9,000,000   9,000,000      
Ending balance, shares at Jun. 30, 2023   84,000,000        
Balance as of end of period, value at Jun. 30, 2023 880,000,000 $ 1,000,000 1,578,000,000 394,000,000 36,000,000 (1,129,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 103,000,000     103,000,000    
Period change (2,000,000)       (2,000,000)  
Dividends $ (29,000,000)     (29,000,000)    
Repurchase of common stock (in shares) (1,000,000)          
Repurchase of common stock $ (105,000,000)         (105,000,000)
Change in deferred compensation 10,000,000   10,000,000      
Other (1,000,000)     (1,000,000)    
Ending balance, shares at Sep. 30, 2023   83,000,000        
Balance as of end of period, value at Sep. 30, 2023 856,000,000 $ 1,000,000 1,588,000,000 467,000,000 34,000,000 (1,234,000,000)
Balance as of beginning of period, shares at Dec. 31, 2023   81,000,000        
Balance as of beginning of period, value at Dec. 31, 2023 746,000,000 $ 1,000,000 1,599,000,000 488,000,000 19,000,000 (1,361,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 16,000,000     16,000,000    
Period change 8,000,000       8,000,000  
Dividends (32,000,000)     (32,000,000)    
Repurchase of common stock (57,000,000)         (57,000,000)
Net share settlement of incentive equity awards (17,000,000)   (17,000,000)      
Change in deferred compensation 10,000,000   10,000,000      
Ending balance, shares at Mar. 31, 2024   81,000,000        
Balance as of end of period, value at Mar. 31, 2024 674,000,000 $ 1,000,000 1,592,000,000 472,000,000 27,000,000 (1,418,000,000)
Balance as of beginning of period, shares at Dec. 31, 2023   81,000,000        
Balance as of beginning of period, value at Dec. 31, 2023 746,000,000 $ 1,000,000 1,599,000,000 488,000,000 19,000,000 (1,361,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 204,000,000          
Period change (19,000,000)          
Ending balance, shares at Sep. 30, 2024   78,000,000        
Balance as of end of period, value at Sep. 30, 2024 583,000,000 $ 1,000,000 1,628,000,000 600,000,000 0 (1,646,000,000)
Balance as of beginning of period, shares at Mar. 31, 2024   81,000,000        
Balance as of beginning of period, value at Mar. 31, 2024 674,000,000 $ 1,000,000 1,592,000,000 472,000,000 27,000,000 (1,418,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 86,000,000     86,000,000    
Period change (2,000,000)       (2,000,000)  
Dividends $ (31,000,000)     (31,000,000)    
Repurchase of common stock (in shares) (2,000,000)          
Repurchase of common stock $ (131,000,000)         (131,000,000)
Net share settlement of incentive equity awards (1,000,000)   (1,000,000)      
Change in deferred compensation 12,000,000   12,000,000      
Exercise of stock options 15,000,000   15,000,000      
Other 1,000,000     1,000,000    
Ending balance, shares at Jun. 30, 2024   79,000,000        
Balance as of end of period, value at Jun. 30, 2024 623,000,000 $ 1,000,000 1,618,000,000 528,000,000 25,000,000 (1,549,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 102,000,000     102,000,000    
Period change (25,000,000)       (25,000,000)  
Dividends $ (30,000,000)     (30,000,000)    
Repurchase of common stock (in shares) (1,000,000)          
Repurchase of common stock $ (97,000,000)         (97,000,000)
Net share settlement of incentive equity awards (1,000,000)   (1,000,000)      
Change in deferred compensation 11,000,000   11,000,000      
Ending balance, shares at Sep. 30, 2024   78,000,000        
Balance as of end of period, value at Sep. 30, 2024 $ 583,000,000 $ 1,000,000 $ 1,628,000,000 $ 600,000,000 $ 0 $ (1,646,000,000)