Net Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method

Basic and diluted net earnings per common share based on the weighted average outstanding shares are summarized as follows:

	Three Months Ended March 31,
(In millions, except shares and per share amounts)	2023		2022
Basic:
Net income	$	204	$	203
Less common and preferred dividends	67		66
Undistributed earnings	137		137
Less undistributed earnings applicable to nonvested shares	1		1
Undistributed earnings applicable to common shares	136		136
Distributed earnings applicable to common shares	61		57
Total earnings applicable to common shares	$	197	$	193
Weighted average common shares outstanding (in thousands)	148,015		151,285
Net earnings per common share	$	1.33	$	1.27
Diluted:
Total earnings applicable to common shares	$	197	$	193
Weighted average common shares outstanding (in thousands)	148,015		151,285
Dilutive effect of stock options (in thousands)	23		402
Weighted average diluted common shares outstanding (in thousands)	148,038		151,687
Net earnings per common share	$	1.33	$	1.27

Schedule of Weighted Average Number of Shares

The following schedule presents the weighted average stock awards that were anti-dilutive and not included in the calculation of diluted earnings per share:

	Three Months Ended March 31,
(In thousands)	2023	2022
Restricted stock and restricted stock units	1,334	1,339
Stock options	1,230	109