Earnings (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2026

Earnings (Loss) Per Share

Schedule of basic and diluted earnings or 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 September 30,													Nine months ended September 30,
		2026						2025							2026						2025
		Basic			Diluted			Basic			Diluted				Basic			Diluted			Basic			Diluted
Numerator for earnings (loss) per share
Net income (loss)		$	26		$	26		$	(1,923)		$	(1,923)			$	267		$	267		$	(2,940)		$	(2,940)

Denominator for earnings (loss) per share
Weighted-average shares outstanding			1,120			1,120			961			961				1,116			1,116			911			911
Effect of share-based awards			—			7			—			—				—			8			—			—
Effect of warrants			—			—			—			—				—			2			—			—
Weighted-average shares for per share calculation			1,120			1,127			961			961				1,116			1,126			911			911


Earnings (loss) per share		$	0.02		$	0.02		$	(2.00)		$	(2.00)			$	0.24		$	0.24		$	(3.23)		$	(3.23)

Schedule of antidilutive securities

We excluded from the computations certain shares issuable as follows because the effect would have been antidilutive (in millions):


															Three months ended						Nine months ended
															September 30,						September 30,
															2026			2025			2026			2025
Convertible debt instruments																75			88			75			109
Share-based awards																3			15			3			16
Warrants (a)																—			—			—			—

(a)

For the three and nine months ended September 30, 2025, the warrants were antidilutive since the exercise price was greater than the average price for our shares.