v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Loss
Noncontrolling Interests in Consolidated Subsidiaries
Class A common stock
Class A common stock
Common Stock Amount
Class B common stock
Class B common stock
Common Stock Amount
Balance, beginning of period (in shares) at Dec. 31, 2022             47,482,787   58,917,749
Balance, beginning of period at Dec. 31, 2022 $ 3,702 $ 318 $ 3,622 $ (242) $ 3   $ 1   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Total comprehensive income 77   58 19          
Repurchases of common stock (in shares) [1]             (1,018,931)    
Repurchases of common stock [1] (98) (98)              
Liability for repurchases of common stock [2] (8) (8)              
Employee stock plan issuance (in shares)             13,925    
Employee stock plan issuance 1 1              
Share-based payment activity (in shares)             366,917    
Share-based payment activity 22 22              
Balance, end of period (in shares) at Mar. 31, 2023             46,844,698   58,917,749
Balance, end of period at Mar. 31, 2023 3,696 235 3,680 (223) 3   $ 1   $ 0
Balance, beginning of period (in shares) at Dec. 31, 2022             47,482,787   58,917,749
Balance, beginning of period at Dec. 31, 2022 3,702 318 3,622 (242) 3   $ 1   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Total comprehensive income 212                
Cash dividends declared of $0.15 per share (see Note 14) (32)         $ (14)   $ (18)  
Balance, end of period (in shares) at Sep. 30, 2023             44,677,518   58,917,749
Balance, end of period at Sep. 30, 2023 3,589 25 3,784 (224) 3   $ 1   $ 0
Balance, beginning of period (in shares) at Mar. 31, 2023             46,844,698   58,917,749
Balance, beginning of period at Mar. 31, 2023 3,696 235 3,680 (223) 3   $ 1   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Total comprehensive income 85   68 17          
Repurchases of common stock (in shares) [1]             (968,629)    
Repurchases of common stock [1] (101) (101)              
Employee stock plan issuance (in shares)             18,337    
Employee stock plan issuance 2 2              
Share-based payment activity (in shares)             8,193    
Share-based payment activity 19 19              
Cash dividends declared of $0.15 per share (see Note 14) (16)   (16)            
Balance, end of period (in shares) at Jun. 30, 2023             45,902,599   58,917,749
Balance, end of period at Jun. 30, 2023 3,685 155 3,732 (206) 3   $ 1   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Total comprehensive income 50   68 (18)          
Repurchases of common stock (in shares) [1]             (1,246,366)    
Repurchases of common stock [1] (145) (145)              
Employee stock plan issuance (in shares)             14,489    
Employee stock plan issuance 2 2              
Share-based payment activity (in shares)             6,796    
Share-based payment activity 13 13              
Cash dividends declared of $0.15 per share (see Note 14) (16)   (16)     $ (7)   $ (9)  
Balance, end of period (in shares) at Sep. 30, 2023             44,677,518   58,917,749
Balance, end of period at Sep. 30, 2023 3,589 25 3,784 (224) 3   $ 1   $ 0
Balance, beginning of period (in shares) at Dec. 31, 2023           44,275,818 44,275,818 58,757,123 58,757,123
Balance, beginning of period at Dec. 31, 2023 3,567 0 3,738 (175) 3   $ 1   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Total comprehensive income 500   522 (22)          
Repurchases of common stock (in shares) [1]             (528,427)   (1,987,229)
Repurchases of common stock [1] (389) (2) (387)            
Employee stock plan issuance (in shares)             13,475    
Employee stock plan issuance 2 2              
Share-based payment activity (in shares)             635,482    
Share-based payment activity (5)   (5)            
Cash dividends declared of $0.15 per share (see Note 14) (15)   (15)            
Class share conversions (in shares)             766,296   (766,296)
Balance, end of period (in shares) at Mar. 31, 2024             45,162,644   56,003,598
Balance, end of period at Mar. 31, 2024 3,660 0 3,853 (197) 3   $ 1   $ 0
Balance, beginning of period (in shares) at Dec. 31, 2023           44,275,818 44,275,818 58,757,123 58,757,123
Balance, beginning of period at Dec. 31, 2023 3,567 0 3,738 (175) 3   $ 1   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Total comprehensive income 1,337                
Cash dividends declared of $0.15 per share (see Note 14) (46)         $ (20)   $ (26)  
Class share conversions (in shares)           1,379,064   (1,379,064)  
Balance, end of period (in shares) at Sep. 30, 2024           42,277,394 42,277,394 53,748,579 53,748,579
Balance, end of period at Sep. 30, 2024 3,700 0 3,886 (190) 3   $ 1   $ 0
Balance, beginning of period (in shares) at Mar. 31, 2024             45,162,644   56,003,598
Balance, beginning of period at Mar. 31, 2024 3,660 0 3,853 (197) 3   $ 1   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Total comprehensive income 323   359 (36)          
Repurchases of common stock (in shares) [1]             (906,875)    
Repurchases of common stock [1] (135) (21) (114)            
Employee stock plan issuance (in shares)             14,553    
Employee stock plan issuance 2 2              
Share-based payment activity (in shares)             32,883    
Share-based payment activity 19 19              
Cash dividends declared of $0.15 per share (see Note 14) (16)   (16)            
Class share conversions (in shares)             464,111   (464,111)
Balance, end of period (in shares) at Jun. 30, 2024             44,767,316   55,539,487
Balance, end of period at Jun. 30, 2024 3,853 0 4,082 (233) 3   $ 1   $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Total comprehensive income 514   471 43          
Repurchases of common stock (in shares) [3]             (2,858,280)   (1,642,251)
Repurchases of common stock [3] (663) (11) (652)            
Employee stock plan issuance (in shares)             12,920    
Employee stock plan issuance 2 2              
Share-based payment activity (in shares)             206,781    
Share-based payment activity 9 9              
Cash dividends declared of $0.15 per share (see Note 14) (15)   (15)     $ (6)   $ (9)  
Class share conversions (in shares)             148,657   (148,657)
Balance, end of period (in shares) at Sep. 30, 2024           42,277,394 42,277,394 53,748,579 53,748,579
Balance, end of period at Sep. 30, 2024 $ 3,700 $ 0 $ 3,886 $ (190) $ 3   $ 1   $ 0
[1]
(1) Includes a $1 million liability for the 1% U.S. federal excise tax on certain share repurchases enacted by the Inflation Reduction Act of 2022.
[2]
(2) Represents repurchases of 73,368 shares for $8 million that were initiated prior to March 31, 2023, but settled in the second quarter of 2023.
[3]
(3) Includes a $6 million liability for the 1% U.S. federal excise tax on certain share repurchases enacted by the Inflation Reduction Act of 2022.