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CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Class A common stock
Class B common stock
Total stockholders' equity
Common stock
Class A common stock
Common stock
Class B common stock
Additional paid in capital
Retained earnings
Accumulated other comprehensive loss
Non-controlling interests
Beginning balance (in shares) at Dec. 31, 2024         2,350 0        
Beginning balance at Dec. 31, 2024       $ 2,897 $ 23 $ 0 $ 512 $ 2,611 $ (249) $ 3,470
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income       396       396   83
Stock-based compensation       (17)     (17)      
Subsidiary dividends       (68)       (68)    
Subsidiary distributions                   (82)
Other comprehensive income (loss)       3         3  
Conversion of class A common stock to class B common stock (in shares)         (1,969) 1,969        
Conversion of Class A common stock to Class B common stock         $ (20) $ 20        
Issuance of Class A common stock, net (in shares)         70          
Issuance of Class A common stock, net       1,670 $ 1   1,669      
Ending balance (in shares) at Mar. 31, 2025         451 1,969        
Ending balance at Mar. 31, 2025       4,881 $ 4 $ 20 2,164 2,939 (246) 3,471
Beginning balance (in shares) at Dec. 31, 2024         2,350 0        
Beginning balance at Dec. 31, 2024       2,897 $ 23 $ 0 512 2,611 (249) 3,470
Ending balance (in shares) at Jun. 30, 2025         456 1,969        
Ending balance at Jun. 30, 2025       5,269 $ 4 $ 20 2,180 3,307 (242) 3,536
Beginning balance (in shares) at Mar. 31, 2025         451 1,969        
Beginning balance at Mar. 31, 2025       4,881 $ 4 $ 20 2,164 2,939 (246) 3,471
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income       368       368   68
Stock-based compensation (in shares)         5          
Stock-based compensation       16     16      
Subsidiary distributions                   (2)
Other comprehensive income (loss)       4         4 (1)
Ending balance (in shares) at Jun. 30, 2025         456 1,969        
Ending balance at Jun. 30, 2025       5,269 $ 4 $ 20 2,180 3,307 (242) 3,536
Beginning balance (in shares) at Dec. 31, 2025   488 1,969   488 1,969        
Beginning balance at Dec. 31, 2025 $ 10,300     6,743 $ 4 $ 20 2,238 4,720 (239) 3,557
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income       488       488   95
Stock-based compensation (in shares)         26          
Stock-based compensation         $ 1          
Stock-based compensation       43     42      
Dividends declared on common stock       (45)       (45)    
Subsidiary distributions                   (169)
Other comprehensive income (loss)       4         4  
Ending balance (in shares) at Mar. 31, 2026         514 1,969        
Ending balance at Mar. 31, 2026       7,233 $ 5 $ 20 2,280 5,163 (235) 3,483
Beginning balance (in shares) at Dec. 31, 2025   488 1,969   488 1,969        
Beginning balance at Dec. 31, 2025 10,300     6,743 $ 4 $ 20 2,238 4,720 (239) 3,557
Ending balance (in shares) at Jun. 30, 2026   529 1,969   529 1,969        
Ending balance at Jun. 30, 2026 12,079     8,572 $ 5 $ 20 2,313 6,466 (232) 3,507
Beginning balance (in shares) at Mar. 31, 2026         514 1,969        
Beginning balance at Mar. 31, 2026       7,233 $ 5 $ 20 2,280 5,163 (235) 3,483
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income       1,347       1,347   65
Stock-based compensation (in shares)         15          
Stock-based compensation       33     33      
Dividends declared on common stock       (44)       (44)    
Subsidiary distributions                   (41)
Other comprehensive income (loss)       3         3  
Ending balance (in shares) at Jun. 30, 2026   529 1,969   529 1,969        
Ending balance at Jun. 30, 2026 $ 12,079     $ 8,572 $ 5 $ 20 $ 2,313 $ 6,466 $ (232) $ 3,507