NET INCOME PER SHARE

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

NET INCOME PER SHARE

NOTE 12: NET INCOME PER SHARE

The following table presents the calculation of basic and diluted earnings per share (“EPS”):

(in millions, except share and per share data)	Three Months Ended September 30,								Nine Months Ended September 30,
	2024				2025				2024				2025
	Class A		Class B		Class A		Class B		Class A		Class B		Class A		Class B
Basic EPS:
Numerator
Net income	$	129	$	21	$	485	$	71	$	425	$	70	$	1,112	$	166
Net income attributable to common stockholders	$	129	$	21	$	485	$	71	$	425	$	70	$	1,112	$	166
Denominator
Weighted-average common shares outstanding - basic	761,931,947		122,176,598		776,153,997		113,107,223		756,319,103		123,863,470		770,107,702		115,238,862
Basic EPS	$	0.17	$	0.17	$	0.63	$	0.63	$	0.56	$	0.56	$	1.44	$	1.44
Diluted EPS:
Numerator
Net income	$	129	$	21	$	485	$	71	$	425	$	70	$	1,112	$	166
Reallocation of net income as a result of conversion of Class B to Class A common stock	21		—		71		—		70		—		166		—
Reallocation of net income to Class B common stock	—		—		—		(3)		—		(1)		—		(6)
Net income for diluted EPS	$	150	$	21	$	556	$	68	$	495	$	69	$	1,278	$	160
Denominator
Weighted-average common shares outstanding - basic	761,931,947		122,176,598		776,153,997		113,107,223		756,319,103		123,863,470		770,107,702		115,238,862
Dilutive effect of stock options and unvested shares	21,436,205		—		28,679,440		—		23,373,019		—		33,259,499		—
Conversion of Class B to Class A common stock	122,176,598		—		113,107,223		—		123,863,470		—		115,238,862		—
Weighted-average common shares outstanding - diluted	905,544,750		122,176,598		917,940,660		113,107,223		903,555,592		123,863,470		918,606,063		115,238,862
Diluted EPS	$	0.17	$	0.17	$	0.61	$	0.61	$	0.55	$	0.55	$	1.39	$	1.39

The following potential common shares were excluded from the calculation of diluted EPS because their effect would have been anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions that were not satisfied by the end of the period:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2025	2024	2025
Market-Based RSUs	11,065,463	—	11,065,463	—
Time-Based RSUs	746,083	—	774,579	76,826
Warrants	14,278,034	—	14,278,034	—
Total anti-dilutive securities	26,089,580	—	26,118,076	76,826