Note 15 - Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Summary of Reconciliation of Basic and Diluted Earnings Per Share

A reconciliation of the amounts used to calculate basic and diluted earnings per share for the three months ended March 31, 2021 and 2020 follows:

	Three Months Ended
	March 31,
(in millions)	2021			2020
Net income (loss)	$	6		$	(111	)
Less: Preferred stock cash dividends		(1	)		(3	)
Less: Preferred stock deemed dividends		(2	)		(2	)
Less: Preferred stock in-kind dividend		(1	)		—
Plus: Expiration of Series A preferred stock embedded derivative		11			—
Net income (loss) available to common shareholders    - basic and diluted	$	13		$	(116	)

(in millions of shares)
Weighted average shares — basic	77.8	43.6
Effect of dilutive securities
Employee stock options	2.3	—
Unvested restricted stock units	0.5	—
Weighted average shares — diluted	80.6	43.6