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Consolidated Statements of Total Equity - USD ($)
$ in Millions
Total
Common stock
Additional paid in capital
Retained earnings
Accumulated other comprehensive (loss) income
Treasury stock
Total parent shareholders' equity
Non-controlling interest
Balance at Dec. 31, 2020 $ 2,423 $ 103 $ 1,329 $ 2,471 $ (347) [1] $ (1,147) $ 2,409 $ 14
Balance, shares at Dec. 31, 2020   103,000,000            
Comprehensive Income:                
Net income 437     435     435 2
Foreign currency translation (86)       (87) [1]   (87) 0
Pension liability 26       26 [1]   26  
Comprehensive income 377           375 2
Stock-based compensation 15         15 15  
Cash dividends declared (165)     (165)     (165)  
Dividends paid to non-controlling interest on subsidiary shares (1)             (1)
Balance at Dec. 31, 2021 2,648 $ 103 1,329 2,742 (408) [1] (1,133) 2,633 15
Balance, shares at Dec. 31, 2021   103,000,000            
Comprehensive Income:                
Net income 425     423     423 2
Foreign currency translation (136)       (134) [1]   (134) (1)
Pension liability 20       20 [1]   20  
Comprehensive income 309           309 0
Stock repurchased and retired amount $ (115) $ 11 216 631   (744) (115)  
Retired and repurchased shares, shares 1,440,572 (11,000,000)            
Stock-based compensation $ 10         10 10  
Cash dividends declared (224)     (224)     (224)  
Dividends paid to non-controlling interest on subsidiary shares (2)             (2)
Balance at Dec. 31, 2022 $ 2,626 $ 91 1,113 2,310 (522) [1] (379) 2,613 13
Balance, shares at Dec. 31, 2022 86,200,000 91,000,000            
Comprehensive Income:                
Net income $ 489     488     488 1
Foreign currency translation 20       20   20 0
Pension liability 6       6 [1]   6  
Comprehensive income 514           513 1
Stock repurchased and retired amount $ (356) $ 4 70 282     (356)  
Retired and repurchased shares, shares 3,671,252 (4,000,000)            
Stock-based compensation $ 11         11 11  
Cash dividends declared (225)     (225)     (225)  
Dividends paid to non-controlling interest on subsidiary shares (1)             (1)
Balance at Dec. 31, 2023 $ 2,570 $ 88 $ 1,044 $ 2,289 $ (496) [1] $ (368) $ 2,557 $ 13
Balance, shares at Dec. 31, 2023 82,600,000 88,000,000            
[1] See Note 14 for further details – includes tax effects where applicable.