Three Months Ended

Six Months Ended

June 30,

(in millions)

2026

2025

2026

2025

Net earnings (loss)

$

17

$

(26

)

$

1

$

(33

)

Less: Series B Preferred stock cash dividends

(2

)

(1

)

(3

)

(2

)

Less: Series C Preferred stock in-kind dividends

—

(1

)

—

(3

)

Less: Preferred stock deemed dividends

(2

)

(1

)

(3

)

(1

)

Less: Deemed dividend on preferred stock amendment

—

—

(2

)

—

Net earnings (loss) available to common shareholders - basic

$

13

$

(29

)

$

(7

)

$

(39

)