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Loss/Earnings per share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Loss/Earnings per share Loss/Earnings per share
The computation of basic loss/earnings per share ("(LPS)/EPS") is based on the weighted average number of common shares of the Company, par value $0.01 per share (the "Shares"), outstanding during the period. Diluted (LPS)/EPS includes the effect of the assumed conversion of potentially dilutive instruments related to the effect of the unsecured senior convertible bond and share based compensation. Refer to Note 9 – "Debt" for further details on the unsecured senior convertible bond.
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)2025202420252024
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)2025202420252024
Basic (loss)/earnings per share: 
Weighted average number of common shares outstanding (1)
62 67 62 70 
Diluted (loss)/earnings per share: 
Effect of dilution3 3 3 3 
Weighted average number of common shares outstanding adjusted for the effects of dilution65 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 $)2025202420252024
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.