Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Schedule of Stockholders' Equity

9 – Shareholders’ Equity

The following summarizes our shareholders’ equity activity for the three and six months ended June 30, 2022 and 2021:

(Dollars in millions)	Capital in Excess of Par Value		Retained Deficit		Accumulated Other Comprehensive Income (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
Balance at March 31, 2022	$	2,908	$	(2,477)	$	(35)	$	30	$	426
Net Income	—		6		—		6		12
Other Comprehensive Income	—		—		59		—		59
Dividends to NCI	—		—		—		(11)		(11)
Equity Awards Granted, Vested and Exercised	5		—		—		—		5
Balance at June 30, 2022	$	2,913	$	(2,471)	$	24	$	25	$	491
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
Net Income (Loss)	—		(78)		—		5		(73)
Other Comprehensive Income	—		—		15		—		15
Dividends to NCI	—		—		—		(4)		(4)
Equity Awards Granted, Vested and Exercised	2		—		—		—		2
Other	—		—		—		(2)		(2)
Balance at June 30, 2021	$	2,899	$	(2,141)	$	(32)	$	33	$	759

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the changes in our accumulated other comprehensive income (loss) by component for the six months ended June 30, 2022 and 2021:

(Dollars in millions)	Currency Translation Adjustment		Defined Benefit Pension		Total
Balance at December 31, 2021	$	(36)	$	1	$	(35)
Other Comprehensive Income	59		—		59
Balance at June 30, 2022	$	23	$	1	$	24
Balance at December 31, 2020	$	(31)	$	(12)	$	(43)
Other Comprehensive Income	11		—		11
Balance at June 30, 2021	$	(20)	$	(12)	$	(32)