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Loss per share | 3 Months Ended
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Mar. 31, 2026
Earnings Per Share [Abstract] |
Loss per share | Loss per share The computation of basic loss per share ("LPS") 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 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 were as follows:
|  | Three months ended March 31, |  |  |
(In $ millions) |  | 2026 |  | 2025 |  |  |  |  |
Net loss available to stockholders |  | (7) |  |  | (14) |  |  |  |  |  |
Effect of dilution (interest on unsecured senior convertible bond) |  | 1 |  |  | 1 |  |  |  |  |  |
Diluted loss available to stockholders |  | (6) |  |  | (13) |  |  |  |  |  |
The components of the denominator for the calculation of basic and diluted LPS were as follows:
|  | Three months ended March 31, |  |  |  |  |
(In millions) |  | 2026 |  | 2025 |  |  |  |  |  |  |  |  |
Basic loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding |  | 62 |  |  | 62 |  |  |  |  |  |  |  |  |  |
Diluted loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Effect of dilution |  | 3 |  |  | 3 |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding adjusted for the effects of dilution |  | 65 |  |  | 65 |  |  |  |  |  |  |  |  |  |
The basic and diluted LPS were as follows:
|  | Three months ended March 31, |  |  |  |  |
(In $) |  | 2026 |  | 2025 |  |  |  |  |  |  |  |  |
Basic loss per share |  | (0.11) |  | (0.23) |  |  |  |  |  |  |  |  |
Diluted loss per share (1) |  | (0.11) |  | (0.23) |  |  |  |  |  |  |  |  |
(1) For the three months ended March 31, 2026 and March 31, 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 The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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