Earnings Per Share

6 Months Ended

Jun. 30, 2026

The following table presents the calculation of basic and diluted earnings per share (“EPS”):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025

	(in millions, except per share amounts)
Numerator:
Net income (loss) attributable to stockholders	$	47	$	(5)	$	58	$	(62)
Earnings attributable to participating securities	—		—		(1)		—
Net income (loss) attributable to stockholders, net of earnings allocated to participating securities	$	47	$	(5)	$	57	$	(62)
Denominator:
Weighted average shares outstanding – basic	200		199		200		199

Weighted average shares outstanding – diluted	200		199		200		199

Earnings (loss) per share – Basic(1)	$	0.24	$	(0.02)	$	0.29	$	(0.31)
Earnings (loss) per share – Diluted(1)	$	0.24	$	(0.02)	$	0.29	$	(0.31)

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(1)Per share amounts are calculated based on unrounded numbers and are calculated independently for each period presented.

Certain of our outstanding equity awards were excluded from the above calculation of EPS for the three and six months ended June 30, 2026 and 2025 because their effect would have been anti-dilutive.