v3.26.1
Net Income Per Share
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per Share
The following table sets forth the calculation of basic and diluted net income per share:
Three Months Ended March 31,
 20262025
 (In millions, except net income per share)
Numerator:
Net income$14 $298 
Denominator:
Shares outstanding at the beginning of the period50.9 55.0 
Weighted-average number of shares issued:
Stock-based compensation— 0.1 
Stock purchases— (0.5)
Denominator for basic net income per share50.9 54.6 
Effect of dilutive securities: (1)
Stock-based compensation0.1 0.2 
Denominator for diluted net income per share51.0 54.8 
Net income per share - Basic (2)
$0.27 $5.47 
Net income per share - Diluted (2)
$0.27 $5.45 
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(1)    The dilutive effect of all potentially dilutive common shares is calculated using the treasury stock method. Certain potentially dilutive common shares issuable are not included in the computation of diluted net income per share because to do so would be anti-dilutive. For the quarter ended March 31, 2026, 427,000 shares were excluded from diluted shares outstanding. For the quarter ended March 31, 2025, there were no shares excluded from diluted shares outstanding.
(2)    Source data for calculations in thousands.