Note 8—Earnings (Loss) Per Share The computations of basic and diluted earnings or loss per share were as follows (in millions, except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | | Six months ended June 30, | | | | 2026 | | 2025 | | | 2026 | | 2025 | | | | Basic | | Diluted | | Basic | | Diluted | | | Basic | | Diluted | | Basic | | Diluted | | Numerator for earnings (loss) per share | | | | | | | | | | | | | | | | | | | | | | | | | | | Net income (loss) | | $ | 170 | | $ | 170 | | $ | (938) | | $ | (938) | | | $ | 241 | | $ | 241 | | $ | (1,017) | | $ | (1,017) | | Effect of convertible debt instruments, net of tax | | | — | | | (126) | | | — | | | — | | | | — | | | — | | | — | | | — | | Income (loss) for per share calculation | | $ | 170 | | $ | 44 | | $ | (938) | | $ | (938) | | | $ | 241 | | $ | 241 | | $ | (1,017) | | $ | (1,017) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Denominator for earnings (loss) per share | | | | | | | | | | | | | | | | | | | | | | | | | | | Weighted-average shares outstanding | | | 1,120 | | | 1,120 | | | 888 | | | 888 | | | | 1,115 | | | 1,115 | | | 885 | | | 885 | | Effect of convertible debt instruments | | | — | | | 75 | | | — | | | — | | | | — | | | — | | | — | | | — | | Effect of share-based awards | | | — | | | 7 | | | — | | | — | | | | — | | | 7 | | | — | | | — | | Effect of warrants | | | — | | | — | | | — | | | — | | | | — | | | 3 | | | — | | | — | | Weighted-average shares for per share calculation | | | 1,120 | | | 1,202 | | | 888 | | | 888 | | | | 1,115 | | | 1,125 | | | 885 | | | 885 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Earnings (loss) per share | | $ | 0.15 | | $ | 0.04 | | $ | (1.06) | | $ | (1.06) | | | $ | 0.22 | | $ | 0.21 | | $ | (1.15) | | $ | (1.15) | |
We excluded from the computations certain shares issuable as follows because the effect would have been antidilutive (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | Six months ended | | | | | | | | | | | | | | | | | June 30, | | June 30, | | | | | | | | | | | | | | | | | 2026 | | 2025 | | 2026 | | 2025 | | Convertible debt instruments | | | | | | | | | | | | | | | | — | | | 119 | | | 75 | | | 119 | | Share-based awards | | | | | | | | | | | | | | | | 3 | | | 17 | | | 3 | | | 17 | | Warrants (a) | | | | | | | | | | | | | | | | — | | | — | | | — | | | — | |
| (a) | For the three and six months ended June 30, 2025, the warrants were antidilutive since the exercise price was greater than the average price for our shares. | |
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