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EARNINGS PER SHARE | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE
| Three Months Ended March 31, |  |
| (in millions, except per share data) |  |  |  |
| 2025 |  | 2024 |  |  |  |
Net income (loss) | $ | 21 |  |  | $ | 109 |  |  |  |  |
Basic: |  |  |  |  |  |  |
Weighted average shares outstanding | 66.3 |  |  | 67.0 |  |  |  |  |
Earnings (loss) per share | $ | 0.32 |  |  | $ | 1.62 |  |  |  |  |
Diluted: |  |  |  |  |  |  |
Basic weighted average shares outstanding | 66.3 |  |  | 67.0 |  |  |  |  |
Effect of dilutive restricted stock | 0.6 |  |  | 0.9 |  |  |  |  |
Diluted weighted average shares outstanding | 66.9 |  |  | 67.9 |  |  |  |  |
Earnings (loss) per share | $ | 0.31 |  |  | $ | 1.60 |  |  |  |  |
Non-vested restricted stock awards and restricted stock units (“Restricted Stock”) granted by the Company are treated as potential common shares outstanding in computing diluted earnings per share using the treasury stock method. Weighted average Restricted Stock of approximately 0.5 million and 0.3 million were outstanding during the three months ended March 31, 2025 and 2024, respectively, but were not included in the computation of diluted shares as the effect would be anti-dilutive or performance targets were not expected to be achieved for awards contingent upon performance.

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