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CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Manager
Special Stock
Common Stock
Common Stock
Manager
Additional Paid In Capital
Additional Paid In Capital
Manager
Accumulated Other Comprehensive Loss
Retained Earnings
Total Stockholders’ Equity
Total Stockholders’ Equity
Manager
Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2018     100 85,800,303 [1]                
Beginning balance at Dec. 31, 2018 $ 3,117         $ 1,510   $ (30) $ 1,485 $ 2,965   $ 152
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuance of shares to Manager (in shares) [1]         182,029              
Issuance of shares to Manager   $ 8         $ 8       $ 8  
Dividends to common stockholders [2] (86)         (86)       (86)    
Distributions to noncontrolling interests (2)                     (2)
Comprehensive income (loss), net of taxes 69               70 70   (1)
Ending balance (in shares) at Mar. 31, 2019     100 85,982,332 [1]                
Ending balance at Mar. 31, 2019 3,106         1,432   (30) 1,555 2,957   149
Beginning balance (in shares) at Dec. 31, 2019     100 86,600,302 [1]                
Beginning balance at Dec. 31, 2019 2,811 [3]         1,198   (37) 1,641 2,802   9
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Issuance of shares to Manager (in shares) [1]         213,365              
Issuance of shares to Manager   $ 9         $ 9       $ 9  
Stock vested under compensation plans (in shares) [1],[4]       1,100                
Stock vested under compensation plans [4] 0         0       0    
Stock withheld for taxes on vested stock (in shares) [1],[4]       (301)                
Stock-based compensation expense 3         3       3    
Dividends to common stockholders [2] (87)         (87)       (87)    
Comprehensive income (loss), net of taxes 8             (3) 11 8    
Ending balance (in shares) at Mar. 31, 2020     100 86,814,466 [1]                
Ending balance at Mar. 31, 2020 $ 2,744 [3]         $ 1,123   $ (40) $ 1,652 $ 2,735   $ 9
[1]
The Company is authorized to issue 500,000,000 shares of common stock with a par value $0.001 per share.
[2]
See Note 13, “Related Party Transactions”, for cash dividends paid on shares for each period.
[3]
The Company is authorized to issue the following classes of stock: (i) 500,000,000 shares of common stock, par value $0.001 per share. At March 31, 2020 and December 31, 2019, the Company had 86,814,466 shares and 86,600,302 shares of common stock issued and outstanding, respectively; (ii) 100,000,000 shares of preferred stock, par value $0.001 per share authorized. At March 31, 2020 and December 31, 2019, no preferred stocks were issued or outstanding; and (iii) 100 shares of special stock, par value $0.001 per share, issued and outstanding to its Manager as at March 31, 2020 and December 31, 2019.
[4]
Stocks vested and issued under the 2016 Omnibus Employee Incentive Plan and 2014 Independent Directors' Equity Plan. Under the 2016 Omnibus Employee Incentive Plan, shares are withheld for the employee portion of taxes on vested awards and are available for future grants.