Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Stockholders' Equity

The following summarizes our shareholders’ equity activity for the three and six months ended June 30, 2024 and 2023:

(Dollars in millions)	Capital in Excess of Par Value		Retained Income (Deficit)		Accumulated Other Comprehensive Loss		Noncontrolling Interests		Total Shareholders’ Equity
Balance at December 31, 2023	$	2,906	$	(1,954)	$	(28)	$	(2)	$	922
Net Income	—		112		—		11		123
Equity Awards, Granted, Vested and Exercised, Net of Shares Withheld for Taxes	4		—		—		—		4
Other Comprehensive Loss	—		—		(24)		—		(24)
Equity Issued for Acquisitions	75		—		—		—		75
Balance at March 31, 2024	$	2,985	$	(1,842)	$	(52)	$	9	$	1,100
Net Income	—		125		—		12		137
Equity Awards, Granted, Vested and Exercised, Net of Shares Withheld for Taxes	12		—		—		—		12
Distributions to Noncontrolling Interests	—		—		—		(9)		(9)
Balance at June 30, 2024	$	2,997	$	(1,717)	$	(52)	$	12	$	1,240
(Dollars in millions)	Capital in Excess of Par Value		Retained Income (Deficit)		Accumulated Other Comprehensive Income (Loss)		Noncontrolling Interests		Total Shareholders’ Equity
Balance at December 31, 2022	$	2,928	$	(2,371)	$	(22)	$	16	$	551
Net Income	—		72		—		9		81
Distributions to Noncontrolling Interests	—		—		—		(6)		(6)
Equity Awards, Granted, Vested and Exercised, Net of Shares Withheld for Taxes	(43)		—		—		—		(43)
Other Comprehensive Income	—		—		3		—		3
Balance at March 31, 2023	$	2,885	$	(2,299)	$	(19)	$	19	$	586
Net Income	—		82		—		8		90
Equity Awards, Granted, Vested and Exercised, Net of Shares Withheld for Taxes	6		—		—		—		6
Other Comprehensive Loss	—		—		(10)		—		(10)
Balance at June 30, 2023	$	2,891	$	(2,217)	$	(29)	$	27	$	672

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, 2024 and 2023:

(Dollars in millions)	Currency Translation Adjustment		Defined Benefit Pension		Total
Balance at December 31, 2023	$	(43)	$	15	$	(28)
Other Comprehensive Loss	(24)		—		(24)
Balance at June 30, 2024	$	(67)	$	15	$	(52)
Balance at December 31, 2022	$	(41)	$	19	$	(22)
Other Comprehensive Loss	$	(7)	—		(7)
Balance at June 30, 2023	$	(48)	$	19	$	(29)