EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding, including the dilutive effect of outstanding share-based instruments such as employee stock awards and warrants.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions, except per share amounts)	2025		2024		2025		2024
Net income	$	172	$	220	$	6	$	88
Basic weighted average shares outstanding	118.847		126.337		120.979		126.153
Dilutive effect of employee stock awards	2.083		1.627		2.204		1.421
Dilutive effect of stock warrants	—		0.346		—		0.283
Diluted weighted average shares outstanding	120.930		128.310		123.183		127.857
Basic earnings per share	$	1.45	$	1.74	$	0.05	$	0.70
Diluted earnings per share	$	1.42	$	1.71	$	0.05	$	0.69
Antidilutive amounts excluded from calculation:
Employee stock awards	1.2		1.1		1.1		1.9
Stock warrants	0.1		0.2		—		0.2