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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       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 [1] 463          
Other comprehensive income (loss) 169          
Ending Balance (in shares) at Jun. 30, 2023   50,000,000        
Ending Balance at Jun. 30, 2023 2,252 $ 0 2,309 (1,138) 1,376 (295)
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)
Beginning Balance (in shares) at Mar. 31, 2023   50,000,000        
Beginning Balance at Mar. 31, 2023 2,040 $ 0 2,309 (992) 1,114 (391)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Common Stock repurchased (146)     (146)    
Net income 262 [1]       262  
Other comprehensive income (loss) 96         96
Ending Balance (in shares) at Jun. 30, 2023   50,000,000        
Ending Balance at Jun. 30, 2023 $ 2,252 $ 0 2,309 (1,138) 1,376 (295)
Beginning Balance (in shares) at Dec. 31, 2023 50,697,442 50,000,000        
Beginning 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   50,000,000        
Ending Balance at Mar. 31, 2024 $ 3,390 $ 0 1,770 (310) [2] 2,245 (315)
Beginning Balance (in shares) at Dec. 31, 2023 50,697,442 50,000,000        
Beginning Balance at Dec. 31, 2023 $ 3,071 $ 0 1,770 (310) [2] 1,901 (290)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 875          
Other comprehensive income (loss) $ (289)          
Ending Balance (in shares) at Jun. 30, 2024 50,697,438 50,000,000        
Ending Balance at Jun. 30, 2024 $ 3,656 $ 0 1,770 (311) 2,776 (579)
Beginning Balance (in shares) at Mar. 31, 2024   50,000,000        
Beginning Balance at Mar. 31, 2024 3,390 $ 0 1,770 (310) [2] 2,245 (315)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Common Stock repurchased (1)     (1)    
Net income 531       531  
Other comprehensive income (loss) $ (264)         (264)
Ending Balance (in shares) at Jun. 30, 2024 50,697,438 50,000,000        
Ending Balance at Jun. 30, 2024 $ 3,656 $ 0 $ 1,770 $ (311) $ 2,776 $ (579)
[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 June 30, 2024, the Company held 225,474 shares as treasury stock.