Basic loss per share is computed by dividing net loss attributable to the Company by the weighted-average

number of shares outstanding during the applicable period. Diluted loss per share is the same as basic loss

per share, as the effect of all dilutive securities would be antidilutive. The three months ended March 31,

2026 excludes 4.2 million of potentially dilutive share-based awards as their effect would have been anti-

The calculation for basic and diluted earnings per share for any period presented prior to the Spin-Off were

based on the number of shares outstanding on the Separation and Distribution Date and have been

retrospectively presented. For periods prior to the Spin-Off, there are no dilutive equity instruments as there

The calculation of basic and diluted loss per share for the three months ended March 31, 2026 and 2025 was


	For the three months ended March 31,
(In millions, except per share data)	2026	2025
Numerator:
Net loss	$(118)	$(87)
Net loss attributable to noncontrolling interests	2	—
Net loss attributable to the Company	$(116)	$(87)
Denominator:
Basic weighted-average number of shares outstanding	553.2	553.1
Dilutive effect of share-based awards	—	—
Diluted weighted-average number of shares outstanding	553.2	553.1

Loss per share
Basic	$(0.21)	$(0.16)
Diluted	$(0.21)	$(0.16)

On April 21, 2026, the Board of Directors approved a share repurchase authorization of $1.0 billion, with a 12-

month expiration. The Company implemented the share repurchase program after the annual general meeting

on April 21, 2026. Share repurchases will be made either in the open market or through privately negotiated

transactions. Our share repurchase program will be executed in compliance with Swiss law. See Note 23 in