EARNINGS (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2026

The following tables present the calculation of our basic and diluted earnings (loss) per share (“EPS”) and the corresponding weighted average shares outstanding referenced in these calculations:


	Three Months Ended March 31,
($ and shares outstanding in millions, except per share amounts)	2026		2025
Basic EPS:
Numerator:
Net income (loss) attributable to stockholders	$	66	$	(17)
Denominator:
Weighted average shares outstanding	81.9		95.5
Basic EPS(1)	$	0.81	$	(0.17)
Diluted EPS:
Numerator:
Net income (loss) attributable to stockholders	$	66	$	(17)
Denominator:
Weighted average shares outstanding	83.7		95.5
Diluted EPS(1)	$	0.79	$	(0.17)

Basic weighted average shares outstanding	81.9		95.5
RSUs(2), PSUs(3), Options(4) and ESPP	1.8		—
Diluted weighted average shares outstanding	83.7		95.5

(1)Earnings per share amounts are calculated using whole numbers.

(2) There were no shares of RSUs that would have been anti-dilutive to EPS under the treasury stock method for the three months ended March 31, 2026.

(3) There were no shares of PSUs that would have been anti-dilutive to EPS under the treasury stock method for the three months ended March 31, 2026.

(4) Excludes approximately 594,000 shares of Options that would have been anti-dilutive to EPS under the treasury stock method for the three months ended March 31, 2026. These Options could potentially dilute EPS in the future.

For the three months ended March 31, 2025, 1,307,252 potentially dilutive shares were excluded from the calculation of diluted weighted average shares outstanding and diluted earnings per share as a result of our net loss position.

Share Repurchases

On July 29, 2025, our Board of Directors approved a share repurchase program authorizing us to repurchase up to an aggregate of $600 million of our outstanding shares of common stock over a two-year period (the “2025 Repurchase Plan”.

The following table summarizes stock repurchase activity under the current and previous share repurchase programs as of March 31, 2026:


(in millions)	Shares	Cost
As of December 31, 2025	56	$	2,149
Repurchases	3	150
As of March 31, 2026	59	$	2,299

From April 1, 2026 through April 23, 2026, we repurchased approximately 0.9 million shares for $41 million. As of April 23, 2026, we had $237 million of remaining availability under the 2025 Repurchase Plan.