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EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Calculation of Basic and Diluted EPS

The following table presents the calculation of basic and diluted EPS, for the three months ended March 31, 2024 and 2023:

			Three months ended March 31,
			2024						2023
			(in millions, except per-share amounts)
Numerator for Basic and Diluted EPS
Net (loss) income			$	(10)					$	301
Denominator for Basic EPS
Weighted-average shares			69.0						71.3
Potential common shares, if dilutive:
Warrants			—						0.5
Restricted stock units			—						0.9
Performance stock units			—						0.8
Denominator for Diluted EPS
Weighted-average shares			69.0						73.5
EPS
Basic			$	(0.14)					$	4.22
Diluted			$	(0.14)					$	4.09

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table presents potentially dilutive weighted-average common shares which were excluded from the denominator for diluted EPS in periods of losses:

			Three months ended March 31,
			2024						2023
(in millions)
Shares issuable upon exercise of warrants			4.2						—
Shares issuable upon settlement of RSUs			0.9						—
Shares issuable upon settlement of PSUs			1.1						—
Total antidilutive shares			6.2						—

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- References

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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