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Earnings Per Share (Notes)
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Net Income per Share
7.Earnings Per Share
Basic EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income by the weighted average number of common shares outstanding during the period, plus the dilutive effect of time-based and performance-based restricted stock units (“RSUs”).
The following table summarizes the net income and the basic and diluted shares used in the earnings per share computations:
Three Months Ended March 31,
(in millions)
20252024
Net income$51 $79 
Weighted average common shares outstanding38 37 
Incremental shares from assumed time-based and performance-based RSU awards— 1 
Adjusted weighted average common shares outstanding38 38 
An immaterial number of shares of time-based and performance-based RSU awards were excluded from the calculation of diluted earnings per share due to such shares being anti-dilutive during the three months ended March 31, 2025 and 2024, respectively.