Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Earnings (Loss) per Share

The Company did not declare any common stock dividends in the periods presented.

The following table sets forth the computation of basic and diluted earnings (loss) per share of common stock:


						Three Months Ended March 31,
(in millions, except per share data in whole dollars and shares in thousands)						2026						2025
Basic Net Earnings (Loss) per Share:
Net Income (Loss)						$	(33)					$	(51)


Dividend - Preferred Stock						(2)						(2)
Adjusted Net Income (Loss) Available to Common Shareholders - Basic						$	(35)					$	(53)

Diluted Net Earnings (Loss) per Share:
Net Income (Loss)						$	(33)					$	(51)


Dividend - Preferred Stock						(2)						(2)
Adjusted Net Income (Loss) Available to Common Shareholders - Diluted						$	(35)					$	(53)

Weighted Average Common Shares Outstanding - Basic						154,903						161,830
Common Shares Issuable With Respect To:

Restricted Stock and Performance Units / Shares						—						—
8% Convertible Preferred Stock						—						—
Weighted Average Common Shares Outstanding - Diluted						154,903						161,830

Net Earnings (Loss) per Share:
Basic						$	(0.23)					$	(0.33)
Diluted						$	(0.23)					$	(0.33)

The following securities were not included in the computation of diluted earnings per share as they were either contingently issuable shares or shares that if included would have been anti-dilutive (shares in thousands):
Restricted stock and performance shares/units						13,224						7,782

Convertible preferred stock						5,393						5,393
Total Anti-Dilutive and Contingently Issuable Securities						18,617						13,175