Equity (Notes)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Equity

SHAREHOLDERS’ EQUITY

The activity in equity during the three- and nine-month periods ended September 30, 2021 and 2020 was as follows (dollars in millions, except per share amounts):

	Common Stock			Accumulated Other Comprehensive Loss		Retained Earnings
	Shares	Amount						Total
Balances as of December 31, 2020	89,537,331	$	1,231	$	(11)	$	1,393	$	2,613
Issuances of shares pursuant to equity-based plans	39,417	—		—		—		—
Stock-based compensation	—	2		—		—		2
Dividends declared ($0.4075 per share)	—	—		—		(36)		(36)
Net income	—	—		—		96		96
Balances as of March 31, 2021	89,576,748	$	1,233	$	(11)	$	1,453	$	2,675
Issuances of shares pursuant to equity-based plans	74,974	1		—		—		1
Stock-based compensation	—	4		—		—		4
Repurchase of common stock	(250,000)	(3)		—		(9)		(12)
Dividends declared ($0.4300 per share)	—	—		—		(39)		(39)
Net income	—	—		—		32		32
Balances as of June 30, 2021	89,401,722	$	1,235	$	(11)	$	1,437	$	2,661
Issuances of shares pursuant to equity-based plans	7,290	—		—		—		—
Stock-based compensation	—	2		—		—		2
Other comprehensive income	—	—		1		—		1
Dividends declared ($0.4300 per share)	—	—		—		(39)		(39)
Net income	—	—		—		50		50
Balances as of September 30, 2021	89,409,012	$	1,237	$	(10)	$	1,448	$	2,675

	Common Stock			Accumulated Other Comprehensive Loss		Retained Earnings
	Shares	Amount						Total
Balances as of December 31, 2019	89,387,124	$	1,220	$	(10)	$	1,381	$	2,591
Issuances of shares pursuant to equity-based plans	77,397	—		—		—		—
Other comprehensive income	—	—		1		—		1
Dividends declared ($0.3850 per share)	—	—		—		(35)		(35)
Net income	—	—		—		81		81
Balances as of March 31, 2020	89,464,521	$	1,220	$	(9)	$	1,427	$	2,638
Issuances of shares pursuant to equity-based plans	42,430	1		—		—		1
Stock-based compensation	—	3		—		—		3
Dividends declared ($0.3850 per share)	—	—		—		(35)		(35)
Net income	—	—		—		39		39
Balances as of June 30, 2020	89,506,951	$	1,224	$	(9)	$	1,431	$	2,646
Issuances of shares pursuant to equity-based plans	2,832	—		—		—		—
Stock-based compensation	—	2		—		—		2
Dividends declared ($0.4075 per share)	—	—		—		(36)		(36)
Net income (loss)	—	—		—		(17)		(17)
Balances as of September 30, 2020	89,509,783	$	1,226	$	(9)	$	1,378	$	2,595