v3.25.4
EARNINGS PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of Basic and Diluted Net Income Per Common Share
A reconciliation of the components of basic and diluted earnings per common share is presented in the table below:

Year Ended December 31,
202520242023
(In millions, except per share amounts, shares in thousands)
Net income (loss) attributable to the period$(68)$359 $200 
Less: net income (loss) allocated to participating securities(1)
1 — — 
Net income (loss) attributable to common stockholders$(69)$359 $200 
Weighted average common shares outstanding:
Basic weighted average common shares outstanding142,530 93,932 74,176 
Effect of dilutive securities:
Potential common shares issuable(2)
— — — 
Diluted weighted average common shares outstanding142,530 93,932 74,176 
Net income (loss) per common share, basic$(0.48)$3.82 $2.69 
Net income (loss) per common share, diluted$(0.48)$3.82 $2.69 
(1)Unvested restricted stock units and performance restricted stock units that contain non-forfeitable dividend equivalent rights are considered participating securities and are therefore included in the earnings per share calculation pursuant to the two-class method.
(2)For the year ended December 31, 2025, 110,342 potential common shares were excluded from the computation of diluted earnings per common share because their inclusion would have been anti-dilutive as a result of recording a net loss attributable to the common shareholders for the period. For the years ended December 31, 2024 and 2023 no significant potential common shares were excluded from the computation of diluted earnings per common share.