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CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2022 [1]   69,000,000        
Beginning balance at Dec. 31, 2022   $ 1 $ 2,626 $ 9,656 $ (4,957) $ (264) [2]
Beginning balance (in shares) at Dec. 31, 2022         45,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 1,042     1,042    
Dividends declared [3]       (205)    
Foreign currency translation adjustments 24 [4]         24 [2]
Fixed price diesel swaps (1)         (1) [2]
Stock compensation expense, net (in shares) [1]   1,000,000        
Stock compensation expense, net     49      
Tax withholding for share based compensation     (54)      
Repurchase of common stock (in shares)   (2,000,000) [1]     (2,000,000)  
Repurchase of common stock         $ (503)  
Ending balance (in shares) at Jun. 30, 2023 [1],[2]   68,000,000        
Ending balance at Jun. 30, 2023   $ 1 2,621 10,493 $ (5,460) (241) [2],[3]
Ending balance (in shares) at Jun. 30, 2023         47,000,000  
Beginning balance (in shares) at Mar. 31, 2023 [1],[2]   69,000,000        
Beginning balance at Mar. 31, 2023   $ 1 2,598 10,003 $ (5,208) (264) [3]
Beginning balance (in shares) at Mar. 31, 2023         46,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 591     591    
Dividends declared [3]       (101)    
Foreign currency translation adjustments 23 [4]         23 [3]
Fixed price diesel swaps $ 0          
Stock compensation expense, net     25      
Tax withholding for share based compensation     (2)      
Repurchase of common stock (in shares)   (1,000,000) [1],[2]     (1,000,000)  
Repurchase of common stock         $ (252)  
Ending balance (in shares) at Jun. 30, 2023 [1],[2]   68,000,000        
Ending balance at Jun. 30, 2023   $ 1 2,621 10,493 $ (5,460) (241) [2],[3]
Ending balance (in shares) at Jun. 30, 2023         47,000,000  
Beginning balance (in shares) at Dec. 31, 2023 67,269,577 67,000,000 [1]        
Beginning balance at Dec. 31, 2023 $ 8,130 $ 1 2,650 11,672 $ (5,965) (228) [2]
Beginning balance (in shares) at Dec. 31, 2023 47,740,819       48,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 1,178     1,178    
Dividends declared [3]       (220)    
Foreign currency translation adjustments (64) [4]         (64) [2]
Fixed price diesel swaps $ 0          
Stock compensation expense, net     55      
Tax withholding for share based compensation     (41)      
Repurchase of common stock (in shares)   (1,000,000) [1]     (1,000,000)  
Repurchase of common stock         $ (757)  
Ending balance (in shares) at Jun. 30, 2024 66,235,191 66,000,000 [1],[2]        
Ending balance at Jun. 30, 2024 $ 8,281 $ 1 2,664 12,630 $ (6,722) (292) [2],[3]
Ending balance (in shares) at Jun. 30, 2024 48,874,017       49,000,000  
Beginning balance (in shares) at Mar. 31, 2024 [1],[2]   67,000,000        
Beginning balance at Mar. 31, 2024   $ 1 2,638 12,103 $ (6,343) (279) [3]
Beginning balance (in shares) at Mar. 31, 2024         48,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 636     636    
Dividends declared [3]       (109)    
Foreign currency translation adjustments (13) [4]         (13) [3]
Fixed price diesel swaps $ 0          
Stock compensation expense, net     27      
Tax withholding for share based compensation     (1)      
Repurchase of common stock (in shares)   (1,000,000) [1],[2]     (1,000,000)  
Repurchase of common stock         $ (379)  
Ending balance (in shares) at Jun. 30, 2024 66,235,191 66,000,000 [1],[2]        
Ending balance at Jun. 30, 2024 $ 8,281 $ 1 $ 2,664 $ 12,630 $ (6,722) $ (292) [2],[3]
Ending balance (in shares) at Jun. 30, 2024 48,874,017       49,000,000  
[1] Common stock outstanding decreased by approximately two million net shares during the year ended December 31, 2023.
[2] The Accumulated Other Comprehensive Loss balance primarily reflects foreign currency translation adjustments.
[3] We declared dividends of $1.63 and $1.48 per share during the three months ended June 30, 2024 and 2023, respectively, and $3.26 and $2.96 per share during the six months ended June 30, 2024 and 2023, respectively.
[4] There were no material reclassifications from accumulated other comprehensive loss reflected in other comprehensive income (loss) during 2024 or 2023. There were no material taxes associated with other comprehensive income (loss) during 2024 or 2023.