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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) - USD ($)
$ in Millions
Total
Total
Ordinary shares
Additional paid in capital
Treasury shares
Accumulated other comprehensive income / (loss)
Other reserves
Retained earnings
Non-controlling interests
Equity, beginning balance at Dec. 31, 2023 $ 742 $ 718 $ 4 $ 513 $ 0 $ 0 $ 136 $ 65 $ 24
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 22 21           21 1
Other comprehensive income / (loss) (11) (11)       (11)      
Total comprehensive (loss) / income 11 10       (11)   21 1
Share-based compensation 6 6         6    
Repurchase of ordinary shares (7) (7)     (7)        
Allocation of treasury shares to share-based compensation plan vested 0                
Other 0                
Transactions with non-controlling interests (1)               (1)
Equity, ending balance at Mar. 31, 2024 751 727 4 513 (7) (11) 142 86 24
Equity, beginning balance at Dec. 31, 2023 742 718 4 513 0 0 136 65 24
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 107                
Other comprehensive income / (loss) 0                
Total comprehensive (loss) / income 107                
Equity, ending balance at Sep. 30, 2024 804 780 4 513 (32) 0 154 141 24
Equity, beginning balance at Mar. 31, 2024 751 727 4 513 (7) (11) 142 86 24
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 77 76           76 1
Other comprehensive income / (loss) (5) (5)       (5)      
Total comprehensive (loss) / income 72 71       (5)   76 1
Share-based compensation 7 7         7    
Repurchase of ordinary shares (32) (32)     (32)        
Allocation of treasury shares to share-based compensation plan vested 0 0     28     (28)  
Other 0                
Transactions with non-controlling interests (2)               (2)
Equity, ending balance at Jun. 30, 2024 796 773 4 513 (11) (16) 149 134 23
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 8 7           7 1
Other comprehensive income / (loss) 16 16       16      
Total comprehensive (loss) / income 24 23       16   7 1
Share-based compensation 5 5         5    
Repurchase of ordinary shares (21) (21)     (21)        
Allocation of treasury shares to share-based compensation plan vested 0                
Other 0                
Transactions with non-controlling interests 0                
Equity, ending balance at Sep. 30, 2024 804 780 4 513 (32) 0 154 141 24
Equity, beginning balance at Dec. 31, 2024 727 706 4 513 (51) (14) 161 93 21
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 38 37           37 1
Other comprehensive income / (loss) 11 11       11      
Total comprehensive (loss) / income 49 48       11   37 1
Share-based compensation 6 6         6    
Repurchase of ordinary shares (15) (15)     (15)        
Allocation of treasury shares to share-based compensation plan vested 0 0     12     (12)  
Other 0 0       2   (2)  
Transactions with non-controlling interests (2)               (2)
Equity, ending balance at Mar. 31, 2025 765 745 4 513 (54) (1) 167 116 20
Equity, beginning balance at Dec. 31, 2024 727 706 4 513 (51) (14) 161 93 21
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 162                
Other comprehensive income / (loss) 34                
Total comprehensive (loss) / income 196                
Equity, ending balance at Sep. 30, 2025 863 845 4 513 (114) 21 181 240 18
Equity, beginning balance at Mar. 31, 2025 765 745 4 513 (54) (1) 167 116 20
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 36 36           36  
Other comprehensive income / (loss) 28 27       27     1
Total comprehensive (loss) / income 64 63       27   36 1
Share-based compensation 7 7         7    
Repurchase of ordinary shares (35) (35)     (35)        
Allocation of treasury shares to share-based compensation plan vested 0                
Other 0                
Transactions with non-controlling interests (2)               (2)
Equity, ending balance at Jun. 30, 2025 799 780 4 513 (89) 26 174 152 19
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 88 88           88  
Other comprehensive income / (loss) (5) (5)       (5)      
Total comprehensive (loss) / income 83 83       (5)   88  
Share-based compensation 7 7         7    
Repurchase of ordinary shares (25) (25)     (25)        
Allocation of treasury shares to share-based compensation plan vested 0                
Other 0                
Transactions with non-controlling interests (1)               (1)
Equity, ending balance at Sep. 30, 2025 $ 863 $ 845 $ 4 $ 513 $ (114) $ 21 $ 181 $ 240 $ 18