XML 49 R39.htm IDEA: XBRL DOCUMENT

Note 14 - Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Summary of Reconciliation of Basic and Diluted Earnings Per Share

A reconciliation of the amounts used to calculate basic and diluted earnings per share for the three and six months ended June 30, 2022 and 2021 follows:

		Three Months Ended								Six Months Ended
		June 30,								June 30,
(in millions)		2022				2021				2022				2021
Net income		$	20			$	16			$	17			$	22
Less: Series B preferred stock cash and deemed dividends			(1	)			(1	)			(2	)			(2	)
Less: Series C preferred stock in-kind and deemed dividends			(1	)			(2	)			(3	)			(2	)
Less: Series A preferred stock cash and deemed dividends			—				—				—				(3	)
Plus: Expiration of Series A preferred stock embedded derivative			—				—				—				11
Less: Earnings attributable to Series C preferred shareholders			(2	)			—				(2	)			—
Net income available to common shareholders - basic		$	16			$	13			$	10			$	26

Effect of dilutive securities:
Add back: Series B preferred stock cash and deemed dividends		$	1			$	1			$	—			$	2
Add back: Series C preferred stock in-kind and deemed dividends			—				2				—				2
Net income available to common shareholders - diluted		$	17			$	16			$	10			$	30

		Three Months Ended								Six Months Ended
		June 30,								June 30,
(in millions of shares)		2022				2021				2022				2021
Weighted average shares — basic			78.9				78.5				78.8				78.2
Effect of dilutive securities
Series B preferred stock			9.5				9.5				—				6.5
Series C preferred stock			—				10.0				—				6.4
Employee stock options			1.2				2.0				1.1				2.2
Unvested restricted stock units			0.6				0.6				0.5				0.6
Weighted average shares — diluted			90.2				100.6				80.4				93.9