XML 16 R6.htm IDEA: XBRL DOCUMENT v3.25.1
Condensed Consolidated Statements of Changes in Stockholders' Equity (unaudited) - USD ($)
$ in Millions
Total
Noncumulative Convertible Preferred Stock Series B
Noncumulative Convertible Preferred Stock Series C
Series C Preferred Stock
Preferred Stock A (Par Value: $0.01)
Common Stock (Par Value: $0.01)
Paid-in Capital in excess of Par
Paid-in Capital in excess of Par
Series C Preferred Stock
(Accumulated deficit)/Retained Earnings
Treasury Stock, at Cost
Accumulated Other Comprehensive Loss, Net of Tax
Beginning balance (in shares) at Dec. 31, 2023 [1] 240,688,790                    
Beginning balance at Dec. 31, 2023 [1] $ 8,367       $ 503 $ 2 $ 8,236   $ 443 $ (218) $ (599)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Issuance and exercise of stock (in shares) [1] 25,543,655     2,250,333              
Issuance and exercise of stock [1] $ 102     $ 9   1 101 $ 9      
Issuance of warrants to purchase common shares $ 302           302        
Shares issued for restricted stock, net of forfeitures (in shares) [1] (86,865)                    
Shares issued for restricted stock, net of forfeitures [1] $ 0           (1)     1  
Compensation expense related to restricted stock awards 6           6        
Net (loss) (327)               (327)    
Dividends paid on common stock (35)               (35)    
Dividends paid on preferred stock $ (8)               (8)    
Purchase of common stock (in shares) [1] (300,714)                    
Purchase of common stock [1] $ (8)                 (8)  
Other comprehensive income (loss), net of tax $ (18)                   (18)
Ending balance (in shares) at Mar. 31, 2024 [1] 268,095,199                    
Ending balance at Mar. 31, 2024 [1] $ 8,390       503 3 8,653   73 (225) (617)
Beginning balance at Dec. 31, 2023 [1] 0                    
Preferred Stock Mezzanine (Par Value: $0.01)                      
Issuance of mezzanine preferred stock   $ 258 $ 337                
Issuance of common shares for the conversion of Series B/ C preferred, net [1]       $ 0              
Ending balance at Mar. 31, 2024 [1] $ 595                    
Beginning balance (in shares) at Dec. 31, 2024 414,934,628                    
Beginning balance at Dec. 31, 2024 $ 8,167       503 4 9,282   (763) (219) (640)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Shares issued for restricted stock, net of forfeitures (in shares) 463,831                    
Shares issued for restricted stock, net of forfeitures $ 0           (11)     11  
Compensation expense related to restricted stock awards 15           15        
Net (loss) (100)               (100)    
Dividends paid on common stock (4)               (4)    
Dividends paid on preferred stock $ (8)               (8)    
Purchase of common stock (in shares) (376,569)                    
Purchase of common stock $ (4)                 (4)  
Other comprehensive income (loss), net of tax $ 87                   87
Ending balance (in shares) at Mar. 31, 2025 415,021,890                    
Ending balance at Mar. 31, 2025 $ 8,153       $ 503 $ 4 $ 9,286   $ (875) $ (212) $ (553)
Beginning balance at Dec. 31, 2024 1                    
Ending balance at Mar. 31, 2025 $ 1                    
[1] On June 27, 2024, the Company announced a 1 for 3 reverse stock split, effective July 11, 2024. This reverse stock split is reflected retroactively in all periods presented. See Note 1 - Organization and Basis of Presentation.