Earnings (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings (Loss) Per Share

Schedule of basic and diluted 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)

Schedule of antidilutive securities

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.