(Loss) Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Schedule of Basic and Diluted (Loss) Earnings Per Common Share

Basic and diluted (loss) earnings per common share for the three and six months ended June 30, 2025 and 2024 were calculated as follows:

	Three Months Ended June 30,			Six Months Ended June 30,
	2025		2024	2025	2024
	(Dollars in millions, except per share amounts, shares in thousands)
(Loss) Income (numerator)
Net (loss) income	$	(915)	(49)	(1,116)	8
Net (loss) income applicable to common stock for computing basic (loss) earnings per common share	(915)		(49)	(1,116)	8
Net (loss) income as adjusted for purposes of computing diluted (loss) earnings per common share	(915)		(49)	(1,116)	8
Shares (denominator):
Weighted-average number of shares:
Outstanding during period	1,026,486		1,015,857	1,022,369	1,013,603
Non-vested restricted stock	(31,943)		(28,618)	(29,463)	(27,556)
Weighted average shares outstanding for computing basic (loss) earnings per common share	994,543		987,239	992,906	986,047
Incremental common shares attributable to dilutive securities:
Shares issuable under convertible securities	—		—	—	10
Shares issuable under incentive compensation plans	—		—	—	1,167
Number of shares as adjusted for purposes of computing diluted (loss) earnings per common share	994,543		987,239	992,906	987,224
Basic (loss) earnings per common share	$	(0.92)	(0.05)	(1.12)	0.01
Diluted (loss) earnings per common share(1)	$	(0.92)	(0.05)	(1.12)	0.01

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(1)For the three and six months ended June 30, 2025, we excluded from the calculation of diluted loss per share 7 million and 9 million shares, respectively, potentially issuable under incentive compensation plans or convertible securities, as their effect, if included, would have been anti-dilutive due to our net loss position. For the three months ended June 30, 2024, we excluded from the calculation of diluted loss per share less than 1 million shares potentially issuable under incentive compensation plans or convertible securities, as their effect, if included, would have been anti-dilutive due to our net loss position.