Basic earnings (loss) per share are computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding for the respective period. Diluted earnings per share are calculated using the treasury-stock method.

The following table sets forth the computation of earnings (loss) per share on a basic and diluted basis for the periods indicated (in millions, except for share and per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Basic:
Net income (loss)	$	(104)	$	(77)	$	(466)	$	(190)
Weighted-average common shares outstanding, basic	230,242,641		228,174,036		229,882,164		227,515,630
Earnings (loss) per share, basic	$	(0.45)	$	(0.34)	$	(2.03)	$	(0.84)
Diluted:
Net income (loss)	$	(104)	$	(77)	$	(466)	$	(190)

Weighted-average common shares outstanding, basic	230,242,641		228,174,036		229,882,164		227,515,630
Effect of dilutive potential common shares	—		—		—		—
Weighted-average common shares outstanding, diluted	230,242,641		228,174,036		229,882,164		227,515,630

Earnings (loss) per share, diluted	$	(0.45)	$	(0.34)	$	(2.03)	$	(0.84)

Due to the net loss for each of the three and nine months ended September 30, 2026 and 2025, diluted weighted-average shares outstanding are equal to basic weighted-average shares outstanding because the effect of all equity awards is anti-dilutive.