v3.25.4
Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Income (Loss) Per Share of Common Stock
The following presents basic and diluted net income (loss) per share of common stock computed using the two-class method:

Basic and Diluted
Years ended December 31,
(In millions, except share and per share amounts)202520242023
Numerator:
Net income (loss) attributable to common stockholders$3,395 $4,480 $5,001 
Dividends declared on common stock1
(1,143)(1,032)(961)
Dividends on participating securities2
(58)(60)(51)
Earnings allocable to participating securities(50)(91)(115)
Undistributed income (loss) attributable to common stockholders: Basic2,144 3,297 3,874 
Dilution effect on distributable income attributable to Mandatory Convertible Preferred Stock— 97 46 
Dilution effect on distributable income attributable to contingent shares— — (5)
Undistributed income (loss) attributable to common stockholders: Diluted$2,144 $3,394 $3,915 
Denominator:
Weighted average number of shares of common stock outstanding: Basic 589,450,878 586,069,166 581,380,268 
Dilution effect of Mandatory Convertible Preferred Stock— 14,530,212 6,440,346 
Dilution effect of options887,361 1,090,151 994,172 
Dilution effect of warrants3,318,984 2,346,463 — 
Dilution effect of contingent shares— — 31,661 
Weighted average number of shares of common stock outstanding: Diluted593,657,223 604,035,992 588,846,447 
Net income (loss) per share of common stock: Basic
Distributed income$1.99 $1.82 $1.69 
Undistributed income (loss)3.59 5.57 6.63 
Net income (loss) per share of common stock: Basic$5.58 $7.39 $8.32 
Net income (loss) per share of common stock: Diluted
Distributed income$1.99 $1.82 $1.69 
Undistributed income (loss)3.55 5.51 6.59 
Net income (loss) per share of common stock: Diluted$5.54 $7.33 $8.28 
1 See note 16 for information regarding quarterly dividends.
2 Participating securities consist of vested and unvested RSUs that have rights to dividends and unvested restricted shares.
Schedule of Anti-dilutive Securities
The following table summarizes the anti-dilutive securities:

Years ended December 31,
202520242023
Weighted average unvested RSUs12,562,494 14,273,743 15,316,350 
Weighted average unexercised warrants477,848 63,388 4,761,918 
Weighted average Mandatory Convertible Preferred Stock14,551,626 — — 
Weighted average unvested restricted shares1,360,830 1,327,484 1,688,421