EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2026

The following tables set forth the computation of basic and diluted earnings per common share (in millions):


	Three Months Ended June 30,
	2026		2025
	Class A	Class B	Common Stock
Basic earnings per common share:
Allocation of net income ..................................................................	$16	$3	$16
Less: Deemed dividends on perpetual preferred stock ....................	(3)	—	(3)
Net income attributable to common shareholders ...........................	13	3	13
Weighted average common shares outstanding - Basic ...................	215	38	78
Basic earnings per common share ...................................................	$0.07	$0.07	$0.17

	Three Months Ended June 30,
	2026		2025
	Class A	Class B	Common Stock
Diluted earnings per common share:
Allocation of net income ..................................................................	$16	$3	$16
Less: Deemed dividends on perpetual preferred stock ....................	(3)	—	(3)
Net income attributable to common shareholders ...........................	13	3	13
Weighted average common shares outstanding - Diluted................	222	38	226
Diluted earnings per common share ................................................	$0.06	$0.07	$0.06


	Six Months Ended June 30,
	2026		2025
	Class A	Class B	Common Stock
Basic and diluted earnings per common share:
Allocation of net loss .......................................................................	$(9)	$(1)	$(32)
Less: Deemed dividends on perpetual preferred stock ....................	(13)	(2)	(15)
Net loss attributable to common shareholders .................................	(22)	(3)	(47)
Weighted average common shares outstanding - basic and diluted	196	32	78
Basic and diluted loss per common share ........................................	$(0.11)	$(0.11)	$(0.60)

Figures in the table may not recalculate exactly due to rounding. Basic and diluted earnings per share are

calculated based on unrounded numbers.

The following tables set forth the computation of basic and diluted earnings per common share (in millions):


	Three Months Ended June 30,
	2026		2025
	Class A	Class B	Common Stock
Basic earnings per common share:
Allocation of net income ..................................................................	$16	$3	$16
Less: Deemed dividends on perpetual preferred stock ....................	(3)	—	(3)
Net income attributable to common shareholders ...........................	13	3	13
Weighted average common shares outstanding - Basic ...................	215	38	78
Basic earnings per common share ...................................................	$0.07	$0.07	$0.17

	Three Months Ended June 30,
	2026		2025
	Class A	Class B	Common Stock
Diluted earnings per common share:
Allocation of net income ..................................................................	$16	$3	$16
Less: Deemed dividends on perpetual preferred stock ....................	(3)	—	(3)
Net income attributable to common shareholders ...........................	13	3	13
Weighted average common shares outstanding - Diluted................	222	38	226
Diluted earnings per common share ................................................	$0.06	$0.07	$0.06


	Six Months Ended June 30,
	2026		2025
	Class A	Class B	Common Stock
Basic and diluted earnings per common share:
Allocation of net loss .......................................................................	$(9)	$(1)	$(32)
Less: Deemed dividends on perpetual preferred stock ....................	(13)	(2)	(15)
Net loss attributable to common shareholders .................................	(22)	(3)	(47)
Weighted average common shares outstanding - basic and diluted	196	32	78
Basic and diluted loss per common share ........................................	$(0.11)	$(0.11)	$(0.60)

Figures in the table may not recalculate exactly due to rounding. Basic and diluted earnings per share are

calculated based on unrounded numbers.