Earnings (Loss) per Common Share (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Earnings (Loss) per Common Share

Basic earnings (loss) per common share (EPS) are calculated using the weighted average number of shares of common stock outstanding during each period. A reconciliation of the numerators and denominators of the basic and diluted EPS calculations on a GAAP basis follows.


	Three Months Ended September 30,					Nine Months Ended September 30,
(In millions, except per share data)	2026		2025			2026		2025
Numerator:
Net income	$	15	$	(86	)	$	56	$	(75	)
Denominator:
Weighted average shares used to compute basic EPS		93		98			94		100
Effect of dilutive securities:
Dilutive effect of restricted stock, restricted stock units, performance stock units, and Employee Stock Purchase Plan (ESPP)(1)		1		—			1		—
Dilutive potential common shares(2)		1		—			1		—
Weighted average shares used to compute diluted EPS		94		98			95		100
Basic earnings per common share	$	.16	$	(.87	)	$	.60	$	(.75	)
Diluted earnings per common share	$	.16	$	(.87	)	$	.59	$	(.75	)

(1)

Includes the potential dilutive effect of additional common shares that are issuable upon the vesting of restricted stock, restricted stock units and performance stock units and the outstanding commitment to issue shares under the ESPP, determined by the treasury stock method.

(2)

For the three months ended September 30, 2026 and 2025, approximately 0 million and 2 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive. For the nine months ended September 30, 2026 and 2025, securities covering approximately 0 million and 2 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.