v3.26.1
Net Income Per Share (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Denominators for The Computation of Basic and Diluted Earnings Per Share
The following table sets forth the calculation of basic and diluted net income per share:
Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
 (In millions, except net income per share)
Numerator:
Net income$60 $255 $74 $553 
Denominator:
Shares outstanding at the beginning of the period51.1 53.6 50.9 55.0 
Weighted-average number of shares issued:
Stock-based compensation— — 0.1 0.2 
Stock purchases— — — (1.1)
Denominator for basic net income per share51.1 53.6 51.0 54.1 
Effect of dilutive securities: (1)
Stock-based compensation0.2 0.1 0.2 0.2 
Denominator for diluted net income per share51.3 53.7 51.2 54.3 
Net income per share - Basic (2)
$1.19 $4.75 $1.46 $10.23 
Net income per share - Diluted (2)
$1.19 $4.75 $1.46 $10.19 
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(1)    The dilutive effect of all potentially dilutive common shares is calculated using the treasury stock method. Certain potentially dilutive common shares issuable are not included in the computation of diluted net income per share because to do so would be anti-dilutive. For the three and six months ended June 30, 2026, 318,000 and 341,000 shares, respectively, were excluded from diluted shares outstanding. For the three months ended June 30, 2025, 133,000 shares were excluded from diluted shares outstanding. For the six months ended June 30, 2025 there were no shares excluded from diluted shares outstanding.
(2)    Source data for calculations in thousands.