Net Income Per Common Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Basic And Diluted Net Income Per Common Share

Basic and diluted net income per common share are presented in the following table.

	Three Months Ended March 31,
(in millions, except per share data)	2022		2021
Basic and diluted
Net income	$	189	$	350
Less:
Income allocated to participating securities	1		1
Preferred stock dividends	6		6
Net income attributable to common shares	$	182	$	343
Basic average common shares	131		140
Basic net income per common share	$	1.39	$	2.46
Basic average common shares	131		140
Dilutive common stock equivalents:
Net effect of the assumed exercise of stock awards	2		1
Diluted average common shares	133		141
Diluted net income per common share	$	1.37	$	2.43

Schedule of Average Shares Excluded From Diluted Net Income Per Common Share Computation

The following average shares related to outstanding options to purchase shares of common stock were not included in the computation of diluted net income per common share because the options were anti-dilutive for the period.

	Three Months Ended March 31,
(average outstanding options in thousands)	2022	2021
Average outstanding options	322	782
Range of exercise prices	$92.58 - $95.25	$67.53 - $95.25