XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Net revenues $ 1,826 $ 1,784 $ 5,157 $ 5,169
Cost of revenues 1,259 1,273 3,554 3,737
Gross profit 567 511 1,603 1,432
Selling, general, and administrative expenses 425 407 1,235 1,148
Operating income 142 104 368 284
Interest expense, net 41 37 110 112
Loss on extinguishment of debt, net 0 0 0 3
Investment expense (income) and other, net 1 (7) 6 (18)
Other expense, net 42 30 116 97
Income before income taxes 100 74 252 187
Income tax provision 31 20 69 59
Net income 69 54 183 128
Net income (loss) attributable to common shareholders:        
Stock dividend on Series B Preferred Stock 0 (11) (7) (33)
Conversion of Series B Preferred Stock 0 0 (372) 0
Net income (loss) attributable to common shareholders $ 69 $ 43 $ (196) $ 95
Net income (loss) per common share:        
Basic (in dollars per share) $ 0.23 $ 0.15 $ (0.74) $ 0.32
Diluted (in dollars per share) $ 0.23 $ 0.15 $ (0.74) $ 0.32
Weighted average shares outstanding:        
Basic (in shares) 274,640,368 235,418,566 265,308,881 234,996,055
Diluted (in shares) 275,919,951 270,038,322 265,308,881 268,924,096