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CONSOLIDATED STATEMENTS OF EQUITY (DEFICIT) - USD ($)
$ in Millions
Total
Series A Preferred Stock
Common Stock
Series A Preferred Stock
Series A Preferred Stock
Series A Preferred Stock
Common Stock
Common Stock
Common Stock
[1]
Treasury Stock
Additional Paid-in Capital
Additional Paid-in Capital
Series A Preferred Stock
Retained Deficit
Retained Deficit
Series A Preferred Stock
Retained Deficit
Common Stock
Accumulated Other Comprehensive Income/(Loss)
Beginning balance (in shares) at Dec. 31, 2021       246,000,000   64,000,000 [1]                
Beginning balance at Dec. 31, 2021 $ (468)     $ 0   $ 0   $ 0 $ 1,326   $ (1,790)     $ (4)
Beginning balance (in shares) at Dec. 31, 2021               0            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income 390                   390      
Share repurchases (6)               (4)   (2)      
Other comprehensive income (loss), net of tax 40                         40
Preferred Stock dividends (83)                   (83)      
Stock-based compensation 11               11          
Ending balance (in shares) at Dec. 31, 2022       246,000,000   64,000,000 [1]                
Ending balance at Dec. 31, 2022 (116)     $ 0   $ 0   $ 0 1,333   (1,485)     36
Ending balance (in shares) at Dec. 31, 2022               0            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income 261                   261      
Share repurchases (in shares)         (70,000,000)   (28,000,000)              
Share repurchases   $ (567) $ (213)             $ (366)   $ (201) $ (213)  
Excise tax on share repurchases (8)                   (8)      
Other comprehensive income (loss), net of tax (39)                         (39)
Preferred Stock dividends (42)                   (42)      
Issuance of common stock for preference dividends (in shares) [1]           26,000,000                
Issuance of Common Stock for preference dividends 0               209   (209)      
Conversion of Series A Preferred Stock to Common Stock (in shares)       176,000,000   176,000,000 [1]                
Conversion of Series A Preferred Stock to Common Stock (25)                   (25)      
Stock-based compensation 14               14          
Ending balance (in shares) at Dec. 31, 2023       0   238,000,000 [1]                
Ending balance at Dec. 31, 2023 $ (735)     $ 0   $ 0   $ 0 1,190   (1,922)     (3)
Ending balance (in shares) at Dec. 31, 2023 0             0            
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Net income $ 282                   282      
Share repurchases (in shares) (33,493,224)             (34,000,000)            
Share repurchases $ (296)             $ (296)            
Excise tax on share repurchases (3)             $ (3)            
Shares issued under stock plan, net of shares withheld for employee taxes (in shares)           3,000,000 [1]   1,000,000            
Shares issued under stock plan, net of shares withheld for employee taxes (7)             $ (7)            
Other comprehensive income (loss), net of tax 76                         76
Common Stock dividends (13)                   (13)      
Stock-based compensation 23               23          
Ending balance (in shares) at Dec. 31, 2024       0   241,000,000 [1]                
Ending balance at Dec. 31, 2024 $ (673)     $ 0   $ 0   $ (306) $ 1,213   $ (1,653)     $ 73
Ending balance (in shares) at Dec. 31, 2024 34,599,391             35,000,000            
[1] Common shares issued less treasury shares equals common shares outstanding