The following table presents the calculation of basic and diluted EPS, for the three and six months ended June 30, 2025 and 2024:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | | | 2025 | | 2024 | | 2025 | | 2024 | | | | | | | | | | | | | | | | | | (in millions, except per-share amounts) | | Numerator for Basic and Diluted EPS | | | | | | | | | | | | Net income (loss) | $ | 172 | | | $ | 8 | | | $ | 287 | | | $ | (2) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Denominator for Basic EPS | | | | | | | | | | | | | Weighted-average shares | 89.0 | | | 68.1 | | | 89.8 | | | 68.6 | | | | | | | | | | | | | | | | | | Potential common shares, if dilutive: | | | | | | | | | | | | | Warrants | — | | | 1.2 | | | — | | | — | | | | | | Restricted stock units | 0.3 | | | 0.4 | | | 0.3 | | | — | | | | | | Performance stock units | 0.1 | | | 0.3 | | | 0.2 | | | — | | | | | | | | | | | | | | | | | | | Denominator for Diluted EPS | | | | | | | | | | | | | Weighted-average shares | 89.4 | | | 70.0 | | | 90.3 | | | 68.6 | | | | | | | | | | | | | | | | | | | EPS | | | | | | | | | | | | | Basic | $ | 1.93 | | | $ | 0.12 | | | $ | 3.20 | | | $ | (0.03) | | | | | | | Diluted | $ | 1.92 | | | $ | 0.11 | | | $ | 3.18 | | | $ | (0.03) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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