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CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Accumulated Other Comprehensive Income (Loss)
Common Stock
Treasury Stock
Additional Paid-In Capital
Retained Earnings
Non-Controlling Interest
Balance as of beginning of period at Dec. 31, 2022 $ 8,076 $ (1,688) $ 9 $ (1,910) $ 5,481 $ 5,866 $ 318
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 387         373 14
Other comprehensive income (loss), net of tax 54 52         2
Shares issued under incentive plans, net (9)       (9)    
Stock-based compensation 22       22    
Treasury stock repurchase (62)     (62)      
Balance as of end of period at Mar. 31, 2023 8,468 (1,636) 9 (1,972) 5,494 6,239 334
Balance as of beginning of period at Dec. 31, 2022 8,076 (1,688) 9 (1,910) 5,481 5,866 318
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 620            
Other comprehensive income (loss), net of tax (9)            
Balance as of end of period at Jun. 30, 2023 8,288 (1,691) 9 (1,972) 5,494 6,129 319
Balance as of beginning of period at Dec. 31, 2022 8,076 (1,688) 9 (1,910) 5,481 5,866 318
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Treasury stock repurchase (2,000)            
Balance as of end of period at Dec. 31, 2023 9,005 (1,486) 9 (1,972) 5,535 6,591 328
Balance as of beginning of period at Mar. 31, 2023 8,468 (1,636) 9 (1,972) 5,494 6,239 334
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 233         199 34
Other comprehensive income (loss), net of tax (63) (55)         (8)
Dividends declared on common stock [1] (309)         (309)  
Shares issued under incentive plans, net (18)       (18)    
Stock-based compensation 18       18    
Dividends attributable to non-controlling interest (41)           (41)
Balance as of end of period at Jun. 30, 2023 8,288 (1,691) 9 (1,972) 5,494 6,129 319
Balance as of beginning of period at Dec. 31, 2023 9,005 (1,486) 9 (1,972) 5,535 6,591 328
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 289         269 20
Other comprehensive income (loss), net of tax (389) (386)         (3)
Shares issued under incentive plans, net (22)       (22)    
Stock-based compensation 23       23    
Acquisition of VCS Business 3,000       3,000    
Balance as of end of period at Mar. 31, 2024 11,906 (1,872) 9 (1,972) 8,536 6,860 345
Balance as of beginning of period at Dec. 31, 2023 9,005 (1,486) 9 (1,972) 5,535 6,591 328
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 2,658            
Other comprehensive income (loss), net of tax (204)            
Balance as of end of period at Jun. 30, 2024 14,079 (1,686) 9 (1,972) 8,563 8,854 311
Balance as of beginning of period at Mar. 31, 2024 11,906 (1,872) 9 (1,972) 8,536 6,860 345
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 2,369         2,337 32
Other comprehensive income (loss), net of tax 185 186         (1)
Dividends declared on common stock [2] (343)         (343)  
Shares issued under incentive plans, net 2       2    
Stock-based compensation 25       25    
Dividends attributable to non-controlling interest (65)           (65)
Balance as of end of period at Jun. 30, 2024 $ 14,079 $ (1,686) $ 9 $ (1,972) $ 8,563 $ 8,854 $ 311
[1]
(2) Cash dividends declared were $0.37 per share for the three months ended June 30, 2023
[2]
(1) Cash dividends declared were $0.38 per share for the three months ended June 30, 2024