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EARNINGS PER SHARE (Tables) | 6 Months Ended
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Jun. 30, 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 and six months ended June 30, 2024 and 2023:
| Three months ended June 30, |  | Six months ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (in millions, except per-share amounts)
Numerator for Basic and Diluted EPS |  |  |  |  |  |  |
Net income (loss) | $ | 8 |  |  | $ | 97 |  |  | $ | (2) |  |  | $ | 398 |
Denominator for Basic EPS |  |  |  |  |  |  |
Weighted-average shares | 68.1 |  |  | 69.7 |  |  | 68.6 |  |  | 70.5 |
Potential common shares, if dilutive: |  |  |  |  |  |  |
Warrants | 1.2 |  |  | 0.5 |  |  | — |  |  | 0.5 |
Restricted stock units | 0.4 |  |  | 0.9 |  |  | — |  |  | 0.9 |
Performance stock units | 0.3 |  |  | 0.8 |  |  | — |  |  | 0.8 |
Denominator for Diluted EPS |  |  |  |  |  |  |
Weighted-average shares | 70.0 |  |  | 71.9 |  |  | 68.6 |  |  | 72.7 |
EPS |  |  |  |  |  |  |
Basic | $ | 0.12 |  |  | $ | 1.39 |  |  | $ | (0.03) |  |  | $ | 5.65 |
Diluted | $ | 0.11 |  |  | $ | 1.35 |  |  | $ | (0.03) |  |  | $ | 5.47 |
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 June 30, |  | Six months ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (in millions) |  |  |  |
Shares issuable upon exercise of warrants | — |  |  | — |  |  | 4.2 |  |  | — |
Shares issuable upon settlement of RSUs | — |  |  | — |  |  | 0.8 |  |  | — |
Shares issuable upon settlement of PSUs | — |  |  | — |  |  | 1.0 |  |  | — |
Total antidilutive shares | — |  |  | — |  |  | 6.0 |  |  | — |

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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 + Details
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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 + Details
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