Basic and diluted loss per common share for the three months ended March 31, 2026 and 2025 were calculated as follows:
| | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | | 2026 | | 2025 | | | | | | | (Dollars in millions, except per share amounts, shares in thousands) | | Loss (numerator) | | | | | | | | | Net loss | $ | (200) | | | (201) | | | | | | | Net loss applicable to common stock for computing basic loss per common share | (200) | | | (201) | | | | | | | Net loss as adjusted for purposes of computing diluted loss per common share | (200) | | | (201) | | | | | | | Shares (denominator): | | | | | | | | | Weighted-average number of shares: | | | | | | | | | Outstanding during period | 1,026,823 | | | 1,018,252 | | | | | | | Non-vested restricted stock | (27,932) | | | (26,983) | | | | | | | Weighted average shares outstanding for computing basic loss per common share | 998,891 | | | 991,269 | | | | | | | Incremental common shares attributable to dilutive securities: | | | | | | | | | Shares issuable under convertible securities | — | | | — | | | | | | | Shares issuable under incentive compensation plans | — | | | — | | | | | | | Number of shares as adjusted for purposes of computing diluted loss per common share | 998,891 | | | 991,269 | | | | | | | Basic loss per common share | $ | (0.20) | | | (0.20) | | | | | | Diluted loss per common share(1) | $ | (0.20) | | | (0.20) | | | | | |
______________________________________________________________________ (1)For the three months ended March 31, 2026 and 2025, we excluded from the calculation of diluted loss per share 14 million and 12 million shares, respectively, potentially issuable under incentive compensation plans or convertible securities, as their effect, if included, would have been anti-dilutive due to our net loss position.
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