v3.26.3
EARNINGS PER SHARE (Tables)
 9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Earnings and Number of Shares Used in Calculation of Basic and Diluted Earnings or Loss Per Share
The tables below illustrate the reconciliation of the earnings or loss and number of shares used in our calculation of basic and diluted earnings or loss per share attributable to common stockholders.
Three Months EndedNine Months Ended
(in millions, except per share amounts)September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Net income (loss) attributable to common stockholders$82 $(2)$181 $123 
Shares for basic earnings (loss) per share34.8 34.9 34.7 35.0 
Basic earnings (loss) per share$2.37 $(0.07)$5.23 $3.52 
Three Months EndedNine Months Ended
(in millions, except per share amounts)
September 30, 2026(1)
September 30, 2025
September 30, 2026(1)
September 30, 2025(1)
Net income (loss) attributable to common stockholders$82 $(2)$181 $123 
Add back of interest expense related to convertible notes, net of tax(2)
4 — 12 14 
Numerator used to calculate diluted earnings (loss) per share$86 $(2)$193 $137 
Shares for basic earnings (loss) per share34.8 34.9 34.7 35.0 
Effect of dilutive shares outstanding(3)
Employee SARs0.2 — — — 
Restricted stock units0.5 — 0.4 0.2 
2026 Convertible Notes
— — — 3.7 
2027 Convertible Notes
3.1 — 3.1 3.0 
Shares for diluted earnings (loss) per share38.6 34.9 38.2 41.9 
Diluted earnings (loss) per share$2.24 $(0.07)$5.07 $3.27 
(1) The computations of diluted earnings per share attributable to common stockholders above exclude approximately 940,000 and 645,000 shares of common stock, the maximum number of shares issuable as of September 30, 2026 and September 30, 2025, respectively, upon the vesting of certain performance-based and market-based awards, because the performance or market conditions required to be met for the shares subject to such awards to vest were not achieved by the end of the reporting period.
(2) For the third quarter of 2025, $4 million of interest expense related to convertible notes, net of tax, was excluded from the above calculation of diluted net loss per share attributable to common stockholders as the effects would have been anti-dilutive.
(3) For the third quarter of 2025, the following potentially dilutive securities were excluded from the above calculation of diluted net loss per share attributable to common stockholders as the effects of including these securities would have been anti-dilutive.
(in millions, except per share amounts)Three Months Ended
September 30, 2025
Restricted stock units0.3 
2026 Convertible Notes3.8 
2027 Convertible Notes 3.0 
7.1 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share For the third quarter of 2025, the following potentially dilutive securities were excluded from the above calculation of diluted net loss per share attributable to common stockholders as the effects of including these securities would have been anti-dilutive.
(in millions, except per share amounts)Three Months Ended
September 30, 2025
Restricted stock units0.3 
2026 Convertible Notes3.8 
2027 Convertible Notes 3.0 
7.1