Three Months Ended

Nine Months Ended

September 30,

(in millions)

2025

2024

2025

2024

Net earnings (loss)

$

13

$

18

$

(20

)

$

76

Less: Series B Preferred stock cash and accrued dividends

(1

)

(1

)

(3

)

(3

)

Less: Series C Preferred stock in-kind dividends

—

(2

)

(3

)

(5

)

Less: Series C Preferred stock exchange to common stock 
   deemed dividend

(19

)

—

(19

)

—

Less: Preferred stock deemed dividends

—

—

(1

)

(1

)

Less: Earnings attributable to Series C Preferred shareholders

—

(2

)

—

(9

)

Net (loss) earnings available to common shareholders - basic

$

(7

)

$

13

$

(46

)

$

58

Effect of dilutive securities:

Add back: Series B preferred stock cash, accrued and deemed  
   dividends

$

—

$

1

$

—

$

4

Net (loss) earnings available to common shareholders - diluted

$

(7

)

$

14

$

(46

)

$

62