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Interim Condensed Consolidated Statements of Equity - USD ($)
$ in Millions
Total
Common stock
Additional paid-in capital
Treasury Stock
Retained Earnings
Accumulated other comprehensive loss
Beginning Balance (in shares) at Dec. 31, 2022   50,000,000        
Beginning Balance at Dec. 31, 2022 $ 1,827 $ 0 $ 2,309 $ (931) $ 913 $ (464)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Common Stock repurchased (61)     (61)    
Net income 201 [1]       201  
Other comprehensive income (loss) 73         73
Ending Balance (in shares) at Mar. 31, 2023   50,000,000        
Ending Balance at Mar. 31, 2023 2,040 $ 0 2,309 (992) 1,114 (391)
Beginning Balance (in shares) at Dec. 31, 2022   50,000,000        
Beginning Balance at Dec. 31, 2022 1,827 $ 0 2,309 (931) 913 (464)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 987          
Ending Balance (in shares) at Dec. 31, 2023 50,697,442 50,000,000        
Ending Balance at Dec. 31, 2023 $ 3,071 $ 0 1,770 (310) [2] 1,901 (290)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 344       344  
Other comprehensive income (loss) $ (25)         (25)
Ending Balance (in shares) at Mar. 31, 2024 50,697,442 50,000,000        
Ending Balance at Mar. 31, 2024 $ 3,390 $ 0 $ 1,770 $ (310) [2] $ 2,245 $ (315)
[1] Recast for consistency with the current presentation due to the change in the presentation of certain financial results. Please refer to Note 2 – Summary of significant accounting policies - Change in the presentation of certain financial results and reclassification of prior year results.
[2] As of March 31, 2024, the Company held 224,945 shares as treasury stock.