Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

The details of the earnings per share calculations for the years ended December 31, 2022, 2021 and 2020 are as follows:

	Year Ended December 31
	2022		2021		2020
	(Dollars in millions except per share amounts)
Basic earnings per share:
Net Income	$	390	$	495	$	80
Less: preferred stock dividend	(157)		(97)		—
Net income available for distribution	233		398		80
Less: earnings allocated to participating securities	(184)		(280)		—
Net income available to common shareholders	49		118		80
Weighted average common shares outstanding - Basic	64,708,635		69,706,183		75,543,461
EPS – Basic	$	0.75	$	1.69	$	1.06
Diluted earnings per share:
Method used:	Two-class		If-converted
Weighted average common shares outstanding - Basic	64,708,635		69,706,183		75,543,461
Dilutive effect of unvested RSUs and other contingently issuable shares	367,357		28,155		557,048
Dilutive effect of participating securities	—		247,768,962		—
Weighted average common shares outstanding – Diluted	65,075,992		317,503,300		76,100,509
EPS – Diluted	$	0.75	$	1.56	$	1.05