NOTE 10—EARNINGS (LOSS) PER SHARE

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Basic earnings (loss) per share is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding. Diluted earnings (loss) per share includes the effects of unvested RSUs with a service condition only, unvested contingently issuable PSUs that have service and performance conditions, and shares issuable upon exchange of the Existing Exchangeable Notes, if dilutive. Diluted earnings (loss) per share is computed using the treasury stock method for the RSUs and PSUs and the if-converted method for the Existing Exchangeable Notes.

The following table sets forth the computation of basic and diluted earnings (loss) per common share:

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Vested RSUs and PSUs have dividend rights identical to the Company’s Common Stock and are treated as outstanding shares for purposes of computing basic and diluted earnings (loss) per share.

Included in the computation of basic earnings (loss) per share are 4,043,321 contingently issuable RSUs whose issuance conditions were satisfied when the grantee attained retirement eligibility. These contingently issuable RSUs will not be issued until their vesting dates. These RSUs also are considered participating securities pursuant to ASC 260—Earnings Per Share. Application of the two-class method for computing both basic and diluted earnings (loss) per share results in the same earnings (loss) per share as the amounts presented in the table above. For the nine months ended September 30, 2026, 11,741,684 unvested RSUs were excluded from the computation of diluted loss per share as their effect would have been anti-dilutive. For both the three and nine months ended September 30, 2025, 4,494,025 unvested RSUs were excluded from the computation of diluted loss per share as their effect would have been anti-dilutive.

Unvested PSUs are subject to performance conditions and are included in diluted earnings (loss) per share, if dilutive, based on the number of shares, if any, that would be issuable under the terms of the award agreements if the end of the reporting period were the end of the contingency period. For the nine months ended September 30, 2026, 10,621,187 unvested PSUs at certain performance targets were excluded from the computation of diluted loss per share as they would not be issuable if the end of the reporting period were the end of the contingency period or as their effect would have been anti-dilutive. For both the three and nine months ended September 30, 2025, 2,201,477 unvested PSUs at certain performance targets were excluded from the computation of diluted loss per share as they would not be issuable if the end of the reporting period were the end of the contingency period or as their effect would have been anti-dilutive.

The Company excluded approximately 23.2 million shares issuable upon exchange of the Existing Exchangeable Notes from the computation of diluted loss per share for both the three and nine months ended September 30, 2026 as their effect would have been anti-dilutive. The Company excluded approximately 21.4 million shares issuable upon exchange of the Existing Exchangeable Notes from the computation of diluted loss per share for both the three and nine months ended September 30, 2025 as their effect would have been anti-dilutive.