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CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Loss
[2]
Balance (in shares) at Dec. 31, 2021 [1]   72,000,000        
Balance at Dec. 31, 2021   $ 1,000,000 $ 2,567,000,000 $ 7,551,000,000 $ (3,957,000,000) $ (171,000,000)
Balance (in shares) at Dec. 31, 2021         42,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 367,000,000     367,000,000    
Foreign currency translation adjustments 17,000,000 [3]         17,000,000
Fixed price diesel swaps 3,000,000         3,000,000
Stock compensation expense, net     24,000,000      
Tax withholding for share based compensation     (56,000,000)      
Repurchase of common stock (in shares)   (1,000,000) [1]     (1,000,000)  
Repurchase of common stock         $ (262,000,000)  
Balance (in shares) at Mar. 31, 2022 [1]   72,000,000        
Balance at Mar. 31, 2022   $ 1,000,000 2,535,000,000 7,918,000,000 $ (4,219,000,000) (151,000,000)
Balance (in shares) at Mar. 31, 2022         43,000,000  
Balance (in shares) at Dec. 31, 2021 [1]   72,000,000        
Balance at Dec. 31, 2021   $ 1,000,000 2,567,000,000 7,551,000,000 $ (3,957,000,000) (171,000,000)
Balance (in shares) at Dec. 31, 2021         42,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Dividends declared $ 0          
Balance (in shares) at Dec. 31, 2022 69,356,981 69,000,000 [1]        
Balance at Dec. 31, 2022 $ 7,062,000,000 $ 1,000,000 2,626,000,000 9,656,000,000 $ (4,957,000,000) (264,000,000)
Balance (in shares) at Dec. 31, 2022 45,401,527       45,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 451,000,000     451,000,000    
Dividends declared [4]       (104,000,000)    
Foreign currency translation adjustments 1,000,000 [3]         1,000,000
Fixed price diesel swaps $ (1,000,000)         (1,000,000)
Stock compensation expense, net (in shares) [1]   1,000,000        
Stock compensation expense, net     24,000,000      
Tax withholding for share based compensation     (52,000,000)      
Repurchase of common stock (in shares)   (1,000,000) [1]     (1,000,000)  
Repurchase of common stock         $ (251,000,000)  
Balance (in shares) at Mar. 31, 2023 68,934,902 69,000,000 [1]        
Balance at Mar. 31, 2023 $ 7,130,000,000 $ 1,000,000 $ 2,598,000,000 $ 10,003,000,000 $ (5,208,000,000) $ (264,000,000)
Balance (in shares) at Mar. 31, 2023 46,006,490       46,000,000  
[1] Common stock outstanding decreased by approximately three million net shares during the year ended December 31, 2022.
[2] The Accumulated Other Comprehensive Loss balance primarily reflects foreign currency translation adjustments.
[3] There were no material reclassifications from accumulated other comprehensive loss reflected in other comprehensive income (loss) during 2023 or 2022. There was no material tax impact related to the foreign currency translation adjustments. In 2021, we remitted the cumulative amount of identified cash in our foreign operations in excess of near-term working capital needs. We continue to expect that the remaining balance of our undistributed foreign earnings will be indefinitely reinvested. If we determine that all or a portion of such foreign earnings are no longer indefinitely reinvested, we may be subject to additional foreign withholding taxes and U.S. state income taxes. There were no material taxes associated with other comprehensive income (loss) during 2023 or 2022.
[4] In January 2023, our Board of Directors approved our first-ever quarterly dividend program (accordingly, there were no dividends declared during 2022). We declared dividends of $1.48 per share during the three months ended March 31, 2023.