Shareholders' Equity

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Shareholders' Equity

9 – Shareholders’ Equity

The following summarizes our shareholders’ equity activity for the three months ended March 31, 2022 and 2021:

(Dollars in millions)	Capital in Excess of Par Value		Retained Deficit		Accumulated Other Comprehensive Loss		Non-controlling Interests “NCI”		Total Shareholders’ Equity
Balance at December 31, 2021	$	2,904	$	(2,397)	$	(35)	$	24	$	496
Net Income (Loss)	—		(80)		—		6		(74)
Equity Awards, Granted, Vested and Exercised	4		—		—		—		4
Other Comprehensive Loss	—		—		—		—		—
Balance at March 31, 2022	$	2,908	$	(2,477)	$	(35)	$	30	$	426
Balance at December 31, 2020	$	2,897	$	(1,947)	$	(43)	$	30	$	937
Net Income (Loss)	—		(116)		—		6		(110)
Dividends to NCI	—		—		—		(2)		(2)
Other Comprehensive Loss	—		—		(4)		—		(4)
Balance at March 31, 2021	$	2,897	$	(2,063)	$	(47)	$	34	$	821

The following table presents the changes in our accumulated other comprehensive loss by component for the three months ended March 31, 2022 and 2021:

(Dollars in millions)	Currency Translation Adjustment		Defined Benefit Pension		Total
Balance at December 31, 2021	$	(36)	$	1	$	(35)
Other Comprehensive Loss	—		—		—
Balance at March 31, 2022	$	(36)	$	1	$	(35)
Balance at December 31, 2020	$	(31)	$	(12)	$	(43)
Other Comprehensive Loss	(4)		—		(4)
Balance at March 31, 2021	$	(35)	$	(12)	$	(47)