NET LOSS PER SHARE

12 Months Ended

Mar. 31, 2024

NET LOSS PER SHARE

NET LOSS PER SHARE

NOTE 6. NET LOSS PER SHARE

We did not declare any stock dividends in the periods presented. The following table provides the computation of basic and diluted earnings per share of common stock for the years ended March 31, 2024 and 2023, the three months ended March 31, 2022 (transition period), and the year ended December 31, 2021.

					Three Months
					Ended		Year Ended
	Year Ended March 31,				March 31,		December 31,
(In millions, except per share amounts)	2024		2023		2022		2021
Net income (loss) on which basic and diluted earnings per share is calculated	$	(340)	$	(1,374)	$	(229)	$	(2,304)
Number of shares on which basic and diluted earnings per share is calculated		229.2		226.7		224.4		224.1
Basic earnings (loss) per share		(1.48)		(6.06)		(1.02)		(10.28)
Diluted earnings (loss) per share		(1.48)		(6.06)		(1.02)		(10.28)

For the years ended March 31, 2024 and 2023, the three months ended March 31, 2022 (transition period), and the year ended December 31, 2021, the Company’s basic and diluted weighted-average shares outstanding were the same. The following securities were not included in the computation of diluted net loss per share because they would have been anti-dilutive:

			Three Months
			Ended	Year Ended
	Year Ended March 31,		March 31,	December 31,
(In millions)	2024	2023	2022	2021
Nonvested restricted stock units	8.8	9.4	9.8	10.2
Nonvested performance-conditioned stock units	3.0	2.3	—	—
Nonvested market-conditioned stock units	2.7	2.3	1.8	1.8
Stock options issued and outstanding	3.6	3.7	3.8	3.8
Total	18.1	17.7	15.5	15.8