Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated and Combined Statements of Equity (Unaudited)

v3.21.2
Condensed Consolidated and Combined Statements of Equity (Unaudited) - USD ($)
shares in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment
Common Stock
Treasury Stock
Additional Paid-in Capital
Retained Earnings/(Accumulated Deficit)
Retained Earnings/(Accumulated Deficit)
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Loss
Beginning balance, shares at Dec. 31, 2019     94          
Balance as of beginning of period, value at Dec. 31, 2019 $ 1,212,000,000 $ (10,000,000) $ 1,000,000 $ (363,000,000) $ 1,488,000,000 $ 113,000,000 $ (10,000,000) $ (27,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income/(loss) 22,000,000         22,000,000    
Period change (39,000,000)             (39,000,000)
Dividends (30,000,000)         (30,000,000)    
Repurchase of common stock (shares)     (1)          
Repurchase of common stock (45,000,000)     (45,000,000)        
Net share settlement of incentive equity awards (2,000,000)       (2,000,000)      
Change in deferred compensation 4,000,000       4,000,000      
Ending balance, shares at Mar. 31, 2020     93          
Balance as of end of period, value at Mar. 31, 2020 1,112,000,000   $ 1,000,000 (408,000,000) 1,490,000,000 95,000,000   (66,000,000)
Beginning balance, shares at Dec. 31, 2019     94          
Balance as of beginning of period, value at Dec. 31, 2019 1,212,000,000 $ (10,000,000) $ 1,000,000 (363,000,000) 1,488,000,000 113,000,000 $ (10,000,000) (27,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income/(loss) (125,000,000)              
Period change (35,000,000)              
Ending balance, shares at Sep. 30, 2020     93          
Balance as of end of period, value at Sep. 30, 2020 963,000,000   $ 1,000,000 (408,000,000) 1,498,000,000 (66,000,000)   (62,000,000)
Beginning balance, shares at Mar. 31, 2020     93          
Balance as of beginning of period, value at Mar. 31, 2020 1,112,000,000   $ 1,000,000 (408,000,000) 1,490,000,000 95,000,000   (66,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income/(loss) (174,000,000)         (174,000,000)    
Period change (1,000,000)             (1,000,000)
Dividends (8,000,000)         (8,000,000)    
Net share settlement of incentive equity awards (2,000,000)       (2,000,000)      
Change in deferred compensation 6,000,000       6,000,000      
Other 0       (1,000,000) 1,000,000    
Ending balance, shares at Jun. 30, 2020     93          
Balance as of end of period, value at Jun. 30, 2020 933,000,000   $ 1,000,000 (408,000,000) 1,493,000,000 (86,000,000)   (67,000,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income/(loss) 27,000,000         27,000,000    
Period change 5,000,000             5,000,000
Dividends (7,000,000)         (7,000,000)    
Change in deferred compensation 5,000,000       5,000,000      
Ending balance, shares at Sep. 30, 2020     93          
Balance as of end of period, value at Sep. 30, 2020 963,000,000   $ 1,000,000 (408,000,000) 1,498,000,000 (66,000,000)   (62,000,000)
Beginning balance, shares at Dec. 31, 2020     93          
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/(loss) 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          
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)
Beginning balance, shares at Dec. 31, 2020     93          
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/(loss) 195,000,000              
Period change 22,000,000              
Ending balance, shares at Sep. 30, 2021     93          
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)
Beginning balance, shares at Mar. 31, 2021     93          
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/(loss) 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      
Issuance of shares for restricted stock units vesting (shares)     1          
Issuance of shares for restricted stock units vesting 0              
Ending balance, shares at Jun. 30, 2021     94          
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]                
Net income/(loss) 103,000,000              
Period change 3,000,000             3,000,000
Dividends (23,000,000)         (23,000,000)    
Repurchase of common stock (shares)     (1)          
Repurchase of common stock (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          
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)