Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENT OF EQUITY (UNAUDITED)

v3.24.3
CONSOLIDATED STATEMENT OF EQUITY (UNAUDITED) - USD ($)
shares in Thousands, $ in Millions
Total
Common Stock
Former Parent's investment
Retained earnings
Retained earnings
Cumulative Effect, Adjustment
Accumulated other comprehensive loss
Noncontrolling interest
Beginning balance at Dec. 31, 2022 $ 12,371   $ (5,368) $ 14,567   $ 34 $ 3,138
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net (loss) income 760     614     146
Other comprehensive loss (52)         (52) 0
Share-based compensation 164   139       25
Exercise of options and RSU vestings in period 5   (49)       54
Withholding taxes on net share settlements of share-based compensation (52)   (52)        
Shares repurchased (274)   45       (319)
Dividends paid by subsidiary (48)           (48)
Other, net (48)   (22) 1     (27)
Ending balance at Sep. 30, 2023 12,826   (5,307) 15,182   (18) 2,969
Beginning balance at Jun. 30, 2023 12,614   (5,298) 14,948   4 2,960
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net (loss) income 291     233     58
Other comprehensive loss (23)         (22) (1)
Share-based compensation 63   54       9
Exercise of options and RSU vestings in period 4   (32)       36
Withholding taxes on net share settlements of share-based compensation (33)   (33)        
Shares repurchased (72)   5       (77)
Dividends paid by subsidiary (15)           (15)
Other, net (3)   (3) 1     (1)
Ending balance at Sep. 30, 2023 12,826   (5,307) 15,182   (18) 2,969
Beginning balance at Dec. 31, 2023 $ 13,102 $ 0 (5,284) 15,353 $ (1) 7 3,026
Beginning balance (in shares) at Dec. 31, 2023 0 0          
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net (loss) income $ (2,362)     (1,952)     (410)
Other comprehensive loss (39)         (37) (2)
Share-based compensation 170   131 15     24
Exercise of options and RSU vestings in period 0   (55)       55
Withholding taxes on net share settlements of share-based compensation (39)   (39)        
Dividends paid by subsidiary (51)           (51)
Tax sharing adjustment with Former Parent 82   82        
Other, net (3)   (3)        
Change in capitalization in connection with LSXM Split-Off (in shares)   339,000          
Change in capitalization in connection with the Split-Off $ 0   5,168 (2,526)     (2,642)
Ending balance (in shares) at Sep. 30, 2024 339,000 339,000          
Ending balance at Sep. 30, 2024 $ 10,859 $ 0 0 10,889   (30) 0
Beginning balance at Jun. 30, 2024 13,722 $ 0 (5,242) 15,859 $ (4) (19) 3,124
Beginning balance (in shares) at Jun. 30, 2024   0          
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net (loss) income (2,958)     (2,456)     (502)
Other comprehensive loss (11)         (11)  
Share-based compensation 64   41 16     7
Exercise of options and RSU vestings in period 0   (30)       30
Withholding taxes on net share settlements of share-based compensation (16)   (16)        
Dividends paid by subsidiary (17)           (17)
Other, net (3)   (3)        
Change in capitalization in connection with LSXM Split-Off (in shares)   339,000          
Change in capitalization in connection with the Split-Off $ 0   5,168 (2,526)     (2,642)
Ending balance (in shares) at Sep. 30, 2024 339,000 339,000          
Ending balance at Sep. 30, 2024 $ 10,859 $ 0 $ 0 $ 10,889   $ (30) $ 0