Three Months Ended

Six Months Ended

June 30,

(in millions)

2023

2022

2023

2022

Net earnings

$

35

$

20

$

68

$

17

Less: Series B Preferred stock cash dividends

(1

)

(1

)

(2

)

(2

)

Less: Series C Preferred stock in-kind dividends

(2

)

(1

)

(3

)

(2

)

Less: Preferred stock deemed dividends

—

(1

)

(1

)

Less: Earnings attributable to Series C Preferred shareholders

(4

)

(2

)

(8

)

(2

)

Net earnings available to common shareholders - basic

$

28

$

16

$

54

$

10

Effect of dilutive securities:

Add back: Series B preferred stock cash and deemed dividends

$

1

$

1

$

2

$

—

Add back: Convertible Notes interest expense

1

—

2

—

Net earnings available to common shareholders - diluted

$

30

$

17

$

58

$

10