Earnings Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share

14. Earnings Per Share

Basic EPS is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the applicable period. Diluted EPS is computed by dividing income by the weighted-average number of shares of common stock outstanding, increased by incremental shares that would be outstanding if potentially dilutive non-participating securities were converted to common stock as calculated using the treasury stock method. EPS for the periods were:

	Successor				Predecessor		Successor				Predecessor
	Three Months Ended June 30, 2024		May 18 through June 30, 2023		April 1 through May 17, 2023		Six Months Ended June 30, 2024		May 18 through June 30, 2023		January 1 through May 17, 2023
Numerator: (Millions of Dollars)
Net Income (Loss)	$	458	$	31	$	419	$	777	$	31	$	465
Less:
Net income (loss) attributable to noncontrolling interest	4		2		(12)		29		2		(14)
Net Income (Loss) Attributable to Stockholders (Successor) / Member (Predecessor)	$	454	$	29	$	431	$	748	$	29	$	479
Denominator: (Thousands)
Weighted-Average Number of Common Shares Outstanding - Basic	57,434		59,029		—		58,119		59,029		—
Warrants	268		32		—		234		32		—
Restricted stock units	332		28		—		262		28		—
Performance stock units	1,741		—		—		1,654		—		—
Weighted-Average Number of Common Shares Outstanding - Diluted	59,775		59,088		—		60,269		59,088		—
Earnings per Share - Basic	$	7.90	$	0.49	N/A		$	12.87	$	0.49	N/A
Earnings per Share - Diluted	7.60		0.49		N/A		12.41		0.49		N/A