| EARNINGS PER SHARE CALCULATIONS On June 24, 2026, the Company effected the Reverse Stock Split of the Company’s common stock, par value $0.01 per share, at a ratio of 1-for-3, and amended the Certificate of Incorporation to reflect a corresponding reduction in the number of authorized shares of the Company's common stock. The Company's shares of outstanding common stock and earnings per share calculations have been retrospectively revised to reflect this change.
The following tables provide earnings per share calculations for the three and six months ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | | Net Income (Loss) for Earnings Per Share Calculations – Basic & Diluted | Three Months Ended June 30, | Six Months Ended June 30, | | In millions | 2026 | 2025 | 2026 | 2025 | | Income from continuing operations, net of tax | $ | 191 | | $ | 24 | | $ | 341 | | $ | 104 | | | Net income from continuing operations attributable to noncontrolling interests | 4 | | — | | 7 | | 2 | | | | | | | | Income from continuing operations attributable to common stockholders | $ | 187 | | $ | 24 | | $ | 334 | | $ | 102 | | | (Loss) income from discontinued operations, net of tax | (44) | | 46 | | (30) | | (615) | | | Net income from discontinued operations attributable to noncontrolling interests | — | | 11 | | — | | 17 | | | (Loss) income from discontinued operations attributable to common stockholders, net of tax | $ | (44) | | $ | 35 | | $ | (30) | | $ | (632) | | | Net income (loss) attributable to common stockholders | $ | 143 | | $ | 59 | | $ | 304 | | $ | (530) | |
| | | | | | | | | | | | | | | | Earnings (Loss) Per Share Calculations – Basic | Three Months Ended June 30, | Six Months Ended June 30, | | Dollars per share | 2026 | 2025 | 2026 | 2025 | | Earnings from continuing operations attributable to common stockholders | $ | 1.38 | | $ | 0.17 | | $ | 2.45 | | $ | 0.73 | | | (Loss) earnings from discontinued operations, net of tax | (0.32) | | 0.25 | | (0.22) | | (4.53) | | Earnings (loss) attributable to common stockholders 1 | $ | 1.05 | | $ | 0.42 | | $ | 2.23 | | $ | (3.80) | |
| | | | | | | | | | | | | | | | Earnings (Loss) Per Share Calculations – Diluted | Three Months Ended June 30, | Six Months Ended June 30, | | Dollars per share | 2026 | 2025 | 2026 | 2025 | | Earnings from continuing operations attributable to common stockholders | $ | 1.37 | | $ | 0.17 | | $ | 2.43 | | $ | 0.73 | | | (Loss) earnings from discontinued operations, net of tax | (0.32) | | 0.25 | | (0.22) | | (4.52) | | Earnings (loss) attributable to common stockholders 1 | $ | 1.05 | | $ | 0.42 | | $ | 2.22 | | $ | (3.79) | |
| | | | | | | | | | | | | | | Share Count Information | Three Months Ended June 30, | Six Months Ended June 30, | | Shares in millions | 2026 | 2025 | 2026 | 2025 | | Weighted-average common shares – basic | 135.9 | | 139.6 | | 136.3 | | 139.6 | | | Plus dilutive effect of equity compensation plans | 0.9 | | 0.3 | | 0.9 | | 0.3 | | | | | | | | Weighted-average common shares – diluted | 136.8 | | 139.9 | | 137.2 | | 139.9 | | Stock options, restricted stock units, and performance-based restricted stock units excluded from EPS calculations 2 | 0.3 | | 0.9 | | 0.2 | | 0.8 | |
1.Earnings per share amounts are computed independently for income from continuing operations, income from discontinued operations and net income attributable to common stockholders. As a result, the per share amounts from continuing operations and discontinued operations may not equal the total per share amounts for net income attributable to common stockholders. 2.These outstanding options to purchase shares of common stock, restricted stock units and performance-based restricted stock units were excluded from the calculation of diluted earnings per share because the effect of including them would have been antidilutive.
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