Basic earnings per share is based upon the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share includes the effect of certain stock options and other equity-based compensation awards. Our unvested restricted stock units contain non-forfeitable rights to dividend equivalents and are considered participating securities. We compute basic and diluted earnings per share under the two-class method.


	Three Months Ended June 30,
	2025				2024
Millions of dollars	Continuing Operations		Discontinued Operations		Continuing Operations		Discontinued Operations
Net income (loss)	$	155	$	(40)	$	946	$	(22)


Dividends on redeemable non-controlling interests	(1)		—		(1)		—
Net income attributable to participating securities	(3)		—		(5)		—
Net income (loss) attributable to ordinary shareholders – basic and diluted	$	151	$	(40)	$	940	$	(22)

Millions of shares, except per share amounts
Basic weighted average common stock outstanding	322		322		325		325
Effect of dilutive securities	—		—		1		1
Diluted weighted average common stock outstanding	322		322		326		326

Earnings per share:
Basic	$	0.47	$	(0.13)	$	2.89	$	(0.07)
Diluted	$	0.47	$	(0.13)	$	2.88	$	(0.06)



	Six Months Ended June 30,
	2025				2024
Millions of dollars	Continuing Operations		Discontinued Operations		Continuing Operations		Discontinued Operations
Net income	$	178	$	114	$	1,379	$	18


Dividends on redeemable non-controlling interests	(3)		—		(3)		—
Net income attributable to participating securities	(5)		—		(6)		—
Net income attributable to ordinary shareholders – basic and diluted	$	170	$	114	$	1,370	$	18

Millions of shares, except per share amounts
Basic weighted average common stock outstanding	323		323		325		325
Effect of dilutive securities	—		—		1		1
Diluted weighted average common stock outstanding	323		323		326		326

Earnings per share:
Basic	$	0.53	$	0.35	$	4.21	$	0.05
Diluted	$	0.53	$	0.35	$	4.20	$	0.05