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Loss/Earnings per share (Tables) | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Schedule of calculation of basic and diluted EPS | The components of the numerator for the calculation of basic and diluted (LPS)/EPS were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30, |  |  |
(In $ millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |
Net (loss)/income available stockholders |  | (11) |  |  | 32 |  |  | (67) |  |  | 345 |  |  |  |
Effect of dilution (interest on unsecured senior convertible bond) |  | 1 |  |  | 1 |  |  | 4 |  |  | 4 |  |  |  |
Diluted (loss)/income available to stockholders |  | (10) |  |  | 33 |  |  | (63) |  |  | 349 |  |  |  |
The components of the denominator for the calculation of basic and diluted (LPS)/EPS were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30, |  |  |
(In millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |
Basic (loss)/earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding (1) |  | 62 |  |  | 67 |  |  | 62 |  |  | 70 |  |  |  |  |  |
Diluted (loss)/earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Effect of dilution |  | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  |  |  |  |
Weighted average number of common shares outstanding adjusted for the effects of dilution |  | 65 |  |  | 70 |  |  | 65 |  |  | 73 |  |  |  |  |  |
(1) Weighted average number of Shares outstanding in the three and nine months ended September 30, 2024 excludes shares repurchased during the period. The basic and diluted (LPS)/EPS were as follows:
|  | Three months ended September 30, |  | Nine months ended September 30, |  |  |
(In $) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |
Basic (loss)/earnings per share |  | (0.17) |  | 0.49 |  | (1.08) |  | 4.97 |  |  |  |  |
Diluted (loss)/earnings per share (1) |  | (0.17) |  | 0.49 |  | (1.08) |  | 4.82 |  |  |  |  |
(1) For the three and nine months ended September 30, 2025, the effect of including all potentially dilutive instruments in the calculation resulted in decreased loss per share, which is anti-dilutive. As a result, the basic and diluted loss per share are equal.

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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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