| Schedule of Basic and Diluted Earnings (Loss) Per Common Share |
Basic and diluted earnings (loss) per common share are calculated as follows (in thousands, except for share and per share data): | | | | | | | | | | | | | | | | | | | | | | Successor | | | Predecessor | | Three Months Ended
September 30, 2026 | | Period From September 12, 2025 to September 30, 2025 | | | Period From July 1, 2025 to September 11, 2025 | | Numerator: | | | | | | | Net income (loss) | $ | 509,032 | | | $ | (192,287) | | | | $ | (14,366) | | Dividends on preferred stock | (34,231) | | | — | | | | — | | Net income (loss) attributable to common stockholders - Basic | $ | 474,801 | | | $ | (192,287) | | | | $ | (14,366) | | | | | | | | | | Denominator: | | | | | | | Basic weighted average shares of common stock outstanding | 89,080,303 | | | 43,617,459 | | | | 2,325,783 | | Effect of dilutive shares | 1,454,495 | | | — | | | | — | | Diluted weighted average shares of common stock outstanding | 90,534,798 | | | 43,617,459 | | | | 2,325,783 | | | | | | | | | | Income (loss) per common share: | | | | | | | Basic income (loss) per common share | $ | 5.33 | | | $ | (4.41) | | | | $ | (6.18) | | Diluted income (loss) per common share | $ | 5.24 | | | $ | (4.41) | | | | $ | (6.18) | | | | | | | | | | Successor | | | Predecessor | | Nine Months Ended
September 30, 2026 | | Period From September 12, 2025 to September 30, 2025 | | | Period From January 1, 2025 to September 11, 2025 | | Numerator: | | | | | | | Net loss | $ | (14,477) | | | $ | (192,287) | | | | $ | (26,990) | | Dividends on preferred stock | (73,894) | | | — | | | | — | | Net loss attributable to common stockholders - Basic | $ | (88,371) | | | $ | (192,287) | | | | $ | (26,990) | | | | | | | | | | Denominator: | | | | | | | Basic and diluted weighted average shares of common stock outstanding | 75,429,254 | | | 43,617,459 | | | | 2,299,243 | | | | | | | | | | Income (loss) per common share: | | | | | | | Basic income (loss) per common share | $ | (1.17) | | | $ | (4.41) | | | | $ | (11.74) | | Diluted income (loss) per common share | $ | (1.17) | | | $ | (4.41) | | | | $ | (11.74) | |
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