| In millions | 2023 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income tax (benefit) expense at the U.S. federal tax rate of 21% | $ | 22 | $ | 33 | $ | 53 | Foreign income tax differential | 22 | (2) | (8) | Additional U.S. tax on foreign income | 16 | 1 | 16 | State and local income taxes (net of federal effect) | (8) | 3 | (2) | Tax effects of intercompany restructurings prior to the Spin-Off | 120 | — | — | Other U.S. permanent book/tax differences | — | 1 | 1 | Nondeductible transaction costs | 1 | — | 4 | Disallowed executive compensation | 6 | 7 | 10 | Excess benefit/deficit from share-based payments | 5 | (1) | (2) | Change in branch tax status | — | — | 4 | Research and development tax credits | (2) | (1) | (1) | Foreign tax law changes | — | — | (6) | Valuation allowances | 44 | (1) | (2) | Change in liability for unrecognized tax benefits | 4 | (1) | (5) | Change in tax estimates for prior periods | 6 | 10 | — | Other, net | 3 | 1 | 2 | Total income tax (benefit) expense | $ | 239 | $ | 50 | $ | 64 | |||||||||||||||||||||||||||||||||||||
| Item | Description | Page | |||||||||
| Forward-Looking Statements | i | ||||||||||
| PART I | 1 | Business | 1 | ||||||||
| 1A. | Risk Factors | 13 | |||||||||
| 1B. | Unresolved Staff Comments | 36 | |||||||||
| 1C. | Cybersecurity | 36 | |||||||||
| 2 | Properties | 38 | |||||||||
| 3 | Legal Proceedings | 38 | |||||||||
| 4 | Mine Safety Disclosures | 38 | |||||||||
| PART II | 5 | Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 39 | ||||||||
| 6 | [Reserved] | 40 | |||||||||
| 7 | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 41 | |||||||||
| 7A. | Quantitative and Qualitative Disclosures about Market Risk | 59 | |||||||||
| 8 | Financial Statements and Supplementary Data | 61 | |||||||||
| 9 | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure | 125 | |||||||||
| 9A. | Controls and Procedures | 125 | |||||||||
| 9B. | Other Information | 125 | |||||||||
| 9C. | Disclosure Regarding Foreign Jurisdiction That Prevent Inspections | 125 | |||||||||
| PART III | 10 | Directors, Executive Officers and Corporate Governance | 126 | ||||||||
| 11 | Executive Compensation | 126 | |||||||||
| 12 | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 126 | |||||||||
| 13 | Certain Relationships and Related Transactions and Director Independence | 126 | |||||||||
| 14 | Principal Accountant Fees and Services | 126 | |||||||||
| PART IV | 15 | Exhibits and Financial Statement Schedule | 127 | ||||||||
| 16 | Form 10-K Summary | 130 | |||||||||
