Note 8—Earnings (Loss) Per Share The computations of basic and diluted earnings or loss per share were as follows (in millions, except per share data): | | | | | | | | | | | | | | | | Three months ended March 31, | | | | 2026 | | 2025 | | | | Basic | | Diluted | | Basic | | Diluted | | Numerator for earnings (loss) per share | | | | | | | | | | | | | | Net income (loss) | | $ | 71 | | $ | 71 | | $ | (79) | | $ | (79) | | Effect of convertible debt instruments, net of tax | | | — | | | — | | | — | | | (29) | | Income (loss) for per share calculation | | $ | 71 | | $ | 71 | | $ | (79) | | $ | (108) | | | | | | | | | | | | | | | | Denominator for earnings (loss) per share | | | | | | | | | | | | | | Weighted-average shares outstanding | | | 1,109 | | | 1,109 | | | 883 | | | 883 | | Effect of convertible debt instruments | | | — | | | — | | | — | | | 75 | | Effect of share-based awards | | | — | | | 9 | | | — | | | — | | Effect of warrants | | | — | | | 6 | | | — | | | — | | Weighted-average shares for per share calculation | | | 1,109 | | | 1,124 | | | 883 | | | 958 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Earnings (loss) per share | | $ | 0.06 | | $ | 0.06 | | $ | (0.09) | | $ | (0.11) | |
We excluded from the computations certain shares issuable as follows because the effect would have been antidilutive (in millions): | | | | | | | | | | | | | | | | | | Three months ended | | | | | | March 31, | | | | | | | | 2026 | | 2025 | | Convertible debt instruments | | | | | | | | | 75 | | | 45 | | Share-based awards | | | | | | | | | 4 | | | 13 | | Warrants (a) | | | | | | | | | — | | | — | |
| (a) | For the three months ended March 31, 2025, the warrants were antidilutive since the exercise price was greater than the average price for our shares. | |
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