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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 $ 860,000,000     860,000,000    
Foreign currency translation adjustments (49,000,000) [3]         (49,000,000)
Fixed price diesel swaps 3,000,000         3,000,000
Stock compensation expense, net     60,000,000      
Tax withholding for share based compensation     (57,000,000)      
Repurchase of common stock (in shares)   (3,000,000) [1]     (3,000,000)  
Repurchase of common stock         $ (762,000,000)  
Balance (in shares) at Jun. 30, 2022 [1]   70,000,000        
Balance at Jun. 30, 2022   $ 1,000,000 2,570,000,000 8,411,000,000 $ (4,719,000,000) (217,000,000)
Balance (in shares) at Jun. 30, 2022         45,000,000  
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  
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  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 493,000,000     493,000,000    
Foreign currency translation adjustments (66,000,000) [3]         (66,000,000)
Fixed price diesel swaps $ 0          
Stock compensation expense, net     36,000,000      
Tax withholding for share based compensation     (1,000,000)      
Repurchase of common stock (in shares)   (2,000,000) [1]     (2,000,000)  
Repurchase of common stock         $ (500,000,000)  
Balance (in shares) at Jun. 30, 2022 [1]   70,000,000        
Balance at Jun. 30, 2022   $ 1,000,000 2,570,000,000 8,411,000,000 $ (4,719,000,000) (217,000,000)
Balance (in shares) at Jun. 30, 2022         45,000,000  
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 $ 1,042,000,000     1,042,000,000    
Dividends declared [4]       (205,000,000)    
Foreign currency translation adjustments 24,000,000 [3]         24,000,000
Fixed price diesel swaps $ (1,000,000)         (1,000,000)
Stock compensation expense, net (in shares) [1]   1,000,000        
Stock compensation expense, net     49,000,000      
Tax withholding for share based compensation     (54,000,000)      
Repurchase of common stock (in shares)   (2,000,000) [1]     (2,000,000)  
Repurchase of common stock         $ (503,000,000)  
Balance (in shares) at Jun. 30, 2023 68,280,874 68,000,000 [1]        
Balance at Jun. 30, 2023 $ 7,414,000,000 $ 1,000,000 2,621,000,000 10,493,000,000 $ (5,460,000,000) (241,000,000)
Balance (in shares) at Jun. 30, 2023 46,670,802       47,000,000  
Balance (in shares) at Mar. 31, 2023 [1]   69,000,000        
Balance at Mar. 31, 2023   $ 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         46,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 591,000,000     591,000,000    
Dividends declared [4]       (101,000,000)    
Foreign currency translation adjustments 23,000,000 [3]         23,000,000
Fixed price diesel swaps $ 0          
Stock compensation expense, net     25,000,000      
Tax withholding for share based compensation     (2,000,000)      
Repurchase of common stock (in shares)   (1,000,000)     (1,000,000)  
Repurchase of common stock         $ (252,000,000)  
Balance (in shares) at Jun. 30, 2023 68,280,874 68,000,000 [1]        
Balance at Jun. 30, 2023 $ 7,414,000,000 $ 1,000,000 $ 2,621,000,000 $ 10,493,000,000 $ (5,460,000,000) $ (241,000,000)
Balance (in shares) at Jun. 30, 2023 46,670,802       47,000,000  
[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 and $2.96 per share during the three and six months ended June 30, 2023, respectively.