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Loss Per Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Loss Per Share Loss Per Share
Basic loss per share is calculated by dividing net loss by the weighted average number of shares outstanding. Diluted loss per share is calculated similarly but includes potential dilution from restricted stock units, the crewmember stock purchase plan, convertible notes, warrants issued under various federal payroll support programs, and any other potentially dilutive instruments using the treasury stock and if-converted method. Anti-dilutive common stock equivalents excluded from the computation of diluted loss per share amounts were 81.6 million and 3.8 million for the three months ended March 31, 2025 and March 31, 2024, respectively. The increase in anti-dilutive common stock equivalents is due to the 2.50% convertible senior notes due 2029, issued in August 2024.
The following table shows how we computed basic and diluted loss per common share for the three months ended March 31, 2025 and 2024 (dollars and share data in millions):
Three Months Ended March 31,
 20252024
Net loss$(208)$(716)
Weighted average basic shares353.7 339.7 
Effect of dilutive securities— — 
Weighted average diluted shares353.7 339.7 
Loss per common share
Basic$(0.59)$(2.11)
Diluted$(0.59)$(2.11)