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Net Income Per Share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Net Income Per Share | Net Income Per Share The following table sets forth the calculation of basic and diluted net income per share:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In millions, except net income per share)
Numerator: |  |  |  |  |  |  |
Net income | $ | 79 |  |  | $ | 326 |  |  | $ | 632 |  |  | $ | 928 |
Denominator: |  |  |  |  |  |  |
Shares outstanding at the beginning of the period | 53.6 |  |  | 58.1 |  |  | 55.0 |  |  | 57.8 |
Weighted-average number of shares issued: |  |  |  |  |  |  |
Stock-based compensation | — |  |  | — |  |  | 0.2 |  |  | 0.2 |
Stock purchases | (1.1) |  |  | (0.5) |  |  | (1.7) |  |  | (0.2) |
Denominator for basic net income per share | 52.5 |  |  | 57.6 |  |  | 53.5 |  |  | 57.8 |
Effect of dilutive securities: (1) |  |  |  |  |  |  |
Stock-based compensation | — |  |  | 0.1 |  |  | 0.1 |  |  | 0.3 |
Denominator for diluted net income per share | 52.5 |  |  | 57.7 |  |  | 53.6 |  |  | 58.1 |
Net income per share - Basic (2) | $ | 1.51 |  |  | $ | 5.67 |  |  | $ | 11.81 |  |  | $ | 16.05 |
Net income per share - Diluted (2) | $ | 1.51 |  |  | $ | 5.65 |  |  | $ | 11.79 |  |  | $ | 15.97 |
______________________________ (1) The dilutive effect of all potentially dilutive common shares is calculated using the treasury stock method. Certain potentially dilutive common shares issuable are not included in the computation of diluted net income per share because to do so would be anti-dilutive. For the three and nine months ended September 30, 2025, 532,000 and 265,000 shares were excluded from diluted shares outstanding. For the three and nine months ended September 30, 2024, 196,000 and 102,000 shares, respectively, were excluded from diluted shares outstanding. (2) Source data for calculations in thousands.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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