v3.26.1
Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Equity Equity
Earnings Per Unit – Diluted earnings per unit is calculated based on the weighted-average number of common units and potential common units outstanding during the period, including, when outstanding, the dilutive effect of convertible notes (see Note 7). During periods with dilution, the dilutive effect of the outstanding convertible notes is calculated using the if-converted method.

The reconciliation of XPLR's basic and diluted earnings per unit is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(millions, except per unit amounts)
Numerator – net income (loss) attributable to XPLR:
From continuing operations$38 $87 $71 $(1)
From discontinued operations— (8)— (18)
Net income (loss) attributable to XPLR$38 $79 $71 $(19)
Denominator:
Weighted-average number of common units outstanding – basic94.3 94.0 94.2 93.8 
Effect of dilutive convertible notes(a)
— — — — 
Weighted-average number of common units outstanding – assuming dilution94.3 94.0 94.2 93.8 
Earnings (loss) per common unit attributable to XPLR – basic and assuming dilution:
From continuing operations$0.40 $0.93 $0.76 $(0.01)
From discontinued operations— (0.09)— (0.19)
Earnings (loss) per common unit attributable to XPLR – basic and assuming dilution$0.40 $0.84 $0.76 $(0.20)
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(a)During all periods the outstanding convertible notes were antidilutive and as such were not included in the calculation of diluted earnings per unit.
ATM Program – XPLR's at-the-market equity issuance program (ATM program) expired in late March 2026. In order to renew the ATM program, in March 2026, XPLR filed a registration statement with the SEC, which became effective in April 2026, for up to $300 million of common units which may be sold under the renewed ATM program, depending on market conditions and other considerations, to support XPLR's liquidity and capital needs.

Class B Noncontrolling Interests – In 2020 and 2021, a subsidiary of XPLR sold Class B noncontrolling membership interests in Genesis Holdings to a third-party investor. In June 2026, XPLR exercised a buyout right and purchased 10% of the originally issued Class B membership interests in Genesis Holdings for approximately $149 million.

Accumulated Other Comprehensive Loss – For each of the three and six months ended June 30, 2026 and 2025, XPLR recognized less than $1 million of other comprehensive income related to an equity method investee. At June 30, 2026 and 2025, XPLR's accumulated other comprehensive loss totaled approximately $11 million and $12 million, respectively, of which $6 million and $6 million, respectively, was attributable to a noncontrolling interest and $5 million and $6 million, respectively, was attributable to XPLR.