Basic earnings (loss) per share are computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding for the respective period. Diluted earnings per share are calculated using the treasury-stock method.

The following table sets forth the computation of earnings (loss) per share on a basic and diluted basis for the periods indicated (in millions, except for share and per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Basic:
Net income (loss)	$	(90)	$	(70)	$	(362)	$	(113)
Weighted-average common shares outstanding, basic	229,978,266		227,941,534		229,698,938		227,307,480
Earnings (loss) per share, basic	$	(0.39)	$	(0.31)	$	(1.58)	$	(0.50)
Diluted:
Net income (loss)	$	(90)	$	(70)	$	(362)	$	(113)

Weighted-average common shares outstanding, basic	229,978,266		227,941,534		229,698,938		227,307,480
Effect of dilutive potential common shares	—		—		—		—
Weighted-average common shares outstanding, diluted	229,978,266		227,941,534		229,698,938		227,307,480

Earnings (loss) per share, diluted	$	(0.39)	$	(0.31)	$	(1.58)	$	(0.50)

Due to the net loss for each of the three and six months ended June 30, 2026 and 2025, diluted weighted-average shares outstanding are equal to basic weighted-average shares outstanding because the effect of all equity awards is anti-dilutive.