The following table presents a reconciliation of net income (loss) and weighted-average common shares used in calculating basic and diluted earnings per common share: | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | | | (in millions, except per share data) | | Weighted-average common shares outstanding: | | | | | | | | | | Weighted-average common shares outstanding — basic | 278.3 | | | 303.2 | | | 279.8 | | | 305.5 | | | | | Effect of dilutive potential common shares: | | | | | | | | | | | Employee share awards (1) | — | | | — | | | 1.8 | | | — | | | | Weighted-average common shares outstanding — diluted | 278.3 | | | 303.2 | | | 281.6 | | | 305.5 | | | | | | | | | | | | | | | Net income (loss): | | | | | | | | | | | Net income (loss) | $ | (353) | | | $ | (283) | | | $ | 378 | | | $ | (133) | | | | | Less: Net income (loss) attributable to the noncontrolling interest | 100 | | | 66 | | | 210 | | | 153 | | | | | Net income (loss) attributable to Holdings | (453) | | | (349) | | | 168 | | | (286) | | | | | Less: Preferred stock dividends | 13 | | | 18 | | | 27 | | | 32 | | | | | Net income (loss) available to Holdings’ common shareholders | $ | (466) | | | $ | (367) | | | $ | 141 | | | $ | (318) | | | | | | | | | | | | | | | | Earnings per common share: | | | | | | | | | | | Basic | $ | (1.68) | | | $ | (1.21) | | | $ | 0.50 | | | $ | (1.04) | | | | | Diluted | $ | (1.68) | | | $ | (1.21) | | | $ | 0.50 | | | $ | (1.04) | | | |
______________ (1)Calculated using the treasury stock method.
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