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v3.26.1

CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED) - USD ($) $ in Millions | Total | Common Stock | [1] | Additional Paid-in Capital | Net Parent Investment | Accumulated Other Comprehensive Loss | Retained Earnings | Noncontrolling Interest
--- | --- | --- | --- | --- | --- | --- | --- | ---
Beginning balance at Dec. 31, 2024 | $ 3,182 | $ 0 | $ 0 | $ 3,471 | $ (213) | $ 0 | $ (76)
Increase (Decrease) in Stockholders' Equity [Roll Forward] |  |  |  |  |  |  |
Net income | 140 |  |  | 134 |  |  | 6
Foreign exchange translation adjustment | 22 |  |  |  | 22 |  |
Pension and other postretirement benefit adjustments | (1) |  |  |  | (1) |  |
Changes in fair value of cash flow hedges | (11) |  |  |  | (11) |  |
Net transfers to Parent | (103) |  |  | (101) |  |  | (2)
Ending balance at Mar. 31, 2025 | 3,229 | 0 | 0 | 3,504 | (203) | 0 | (72)
Beginning balance at Dec. 31, 2025 | 1,377 | 2 | 1,495 | 0 | (127) | 41 | (34)
Increase (Decrease) in Stockholders' Equity [Roll Forward] |  |  |  |  |  |  |
Net income | 105 |  |  |  |  | 85 | 20
Dividends ($0.075 per share) | (12) |  |  |  |  | (12) |
Foreign exchange translation adjustment | (4) |  |  |  | (4) |  |
Pension and other postretirement benefit adjustments | 0 |  |  |  |  |  |
Changes in fair value of cash flow hedges | 3 |  |  |  | 3 |  |
Stock-based compensation | 5 |  | 5 |  |  |  |
Ending balance at Mar. 31, 2026 | $ 1,473 | $ 2 | $ 1,500 | $ 0 | $ (128) | $ 113 | $ (14)
[1] | See Note 11 - Shareowners’ Equity of the Notes to the Consolidated Financial Statements for a rollforward of common stock.

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