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Earnings (Loss) per Common Share (Tables)
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Earnings (Loss) per Common Share

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In millions, except per share data)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

36

 

 

$

66

 

 

$

109

 

 

$

177

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares used to compute basic EPS

 

 

111

 

 

 

124

 

 

 

112

 

 

 

126

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Dilutive effect of restricted stock, restricted
   stock units, performance stock units, and
   Employee Stock Purchase Plan (ESPP)(1)

 

 

1

 

 

 

1

 

 

 

1

 

 

 

2

 

Dilutive potential common shares(2)

 

 

1

 

 

 

1

 

 

 

1

 

 

 

2

 

Weighted average shares used to compute
   diluted EPS

 

 

112

 

 

 

125

 

 

 

113

 

 

 

128

 

Basic earnings per common share

 

$

.32

 

 

$

.53

 

 

$

.98

 

 

$

1.40

 

Diluted earnings per common share

 

$

.32

 

 

$

.52

 

 

$

.97

 

 

$

1.39

 

 

(1)
Includes the potential dilutive effect of additional common shares that are issuable upon the vesting of restricted stock, restricted stock units and performance stock units and the outstanding commitment to issue shares under applicable ESPPs, determined by the treasury stock method.
(2)
For the three months ended June 30, 2024 and 2023, securities covering approximately 0 million and 0 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive. For the six months ended June 30, 2024 and 2023, securities covering approximately 0 million and 0 million shares, respectively, were outstanding but not included in the computation of diluted earnings per share because they were anti-dilutive.