Equity (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Stockholders Equity [Table Text Block]

The activity in equity during the three and nine-month periods ended September 30, 2024 and 2023 was as follows (dollars in millions, except per share amounts):


	Common Stock			Accumulated Other Comprehensive Loss		Retained Earnings

	Shares	Amount						Total
Balances as of December 31, 2023	101,159,609	$	1,750	$	(5)	$	1,574	$	3,319
Issuances of shares pursuant to equity-based plans	148,926	—		—		—		—
Issuances of shares pursuant to equity agreements	1,714,972	78		—		—		78

Other comprehensive income	—	—		1		—		1

Dividends declared ($0.4750 per share)	—	—		—		(48)		(48)
Net income	—	—		—		109		109

Balances as of March 31, 2024	103,023,507	$	1,828	$	(4)	$	1,635	$	3,459
Issuances of shares pursuant to equity-based plans	43,176	1		—		—		1

Stock-based compensation	—	4		—		—		4


Dividends declared ($0.5000 per share)	—	—		—		(52)		(52)
Net income	—	—		—		72		72
Balances as of June 30, 2024	103,066,683	$	1,833	$	(4)	$	1,655	$	3,484
Issuances of shares pursuant to equity-based plans	37,837	—		—		—		—
Issuances of shares pursuant to equity-based plans	2,351,070	100		—		—		100
Stock-based compensation	—	5		—		—		5
Other comprehensive income	—	—		(1)		—		(1)
Dividends declared ($0.5000 per share)	—	—		—		(52)		(52)
Net income	—	—		—		94		94
Balances as of September 30, 2024	105,455,590	$	1,938	$	(5)	$	1,697	$	3,630


	Common Stock			Accumulated Other Comprehensive Loss		Retained Earnings

	Shares	Amount						Total
Balances as of December 31, 2022	89,283,353	$	1,249	$	(4)	$	1,534	$	2,779
Issuances of shares pursuant to equity-based plans	159,603	—		—		—		—


Issuances of shares pursuant to equity agreements	7,178,016	300		—		—		300
Stock-based compensation	—	(1)		—		—		(1)
Dividends declared ($0.4525 per share)	—	—		—		(40)		(40)
Net income	—	—		—		74		74
Balances as of March 31, 2023	96,620,972	$	1,548	$	(4)	$	1,568	$	3,112
Issuances of shares pursuant to equity-based plans	30,245	1		—		—		1
Issuances of shares pursuant to equity agreements	2,212,610	92						92
Stock-based compensation	—	6		—		—		6
Other comprehensive income	—	—		1		—		1

Dividends declared ($0.4750 per share)	—	—		—		(51)		(51)
Net income	—	—		—		39		39
Balances as of June 30, 2023	98,863,827	$	1,647	$	(3)	$	1,556	$	3,200
Issuances of shares pursuant to equity-based plans	35,702	—		—		—		—
Issuances of shares pursuant to equity agreements	2,224,374	93		—		—		93
Stock-based compensation	—	4		—		—		4
Dividends declared ($0.4750 per share)	—	—		—		(49)		(49)
Net income	—	—		—		47		47
Balances as of September 30, 2023	101,123,903	$	1,744	$	(3)	$	1,554	$	3,295