Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated and Combined Statements of Equity (Unaudited)

v3.25.1
Condensed Consolidated and Combined Statements of Equity (Unaudited) - USD ($)
$ in Millions
Total
Common Shares Outstanding
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income
Treasury Stock, Common
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 $ 1 $ 1,599 $ 488 $ 19 $ (1,361)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 16     16    
Period change 8       8  
Dividends (32)     (32)    
Repurchase of common stock (57)         (57)
Net share settlement of incentive equity awards (17)   (17)      
Change in deferred compensation 10   10      
Ending balance, shares at Mar. 31, 2024   81,000,000        
Balance as of end of period, value at Mar. 31, 2024 674 $ 1 1,592 472 27 (1,418)
Balance as of beginning of period, shares at Dec. 31, 2024   78,000,000        
Balance as of beginning of period, value at Dec. 31, 2024 650 $ 1 1,647 654 17 (1,669)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 61     61    
Period change (13)       (13)  
Dividends $ (32)     (32)    
Repurchase of common stock (in shares) (1,000,000)          
Repurchase of common stock $ (76)         (76)
Net share settlement of incentive equity awards (22)   (22)      
Change in deferred compensation $ 10   10      
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures 1,000,000          
Other $ 1   (1)      
Ending balance, shares at Mar. 31, 2025   78,000,000        
Balance as of end of period, value at Mar. 31, 2025 $ 579 $ 1 $ 1,636 $ 683 $ 4 $ (1,745)