EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2023

The following table presents the calculation of basic and diluted earnings per common share from continuing operations:


	Three months ended June 30,				Six months ended June 30,
(Dollars in millions)	2023		2022		2023		2022
Earnings per share — Basic:
Earnings (loss) from continuing operations	$	(18)	$	240	$	122	$	416
Less: Distributed and undistributed earnings allocated to unvested stock	—		(1)		(1)		(2)
Earnings (loss) from continuing operations available to common shareholders	$	(18)	$	239	$	121	414

Weighted average common shares outstanding	45,975		49,852		46,176		50,474

Earnings (loss) from continuing operations per common share — Basic	$	(0.39)	$	4.80	$	2.64	$	8.20


Earnings per share — Diluted:
Earnings (loss) from continuing operations	$	(18)	$	240	$	122	$	416
Less: Distributed and undistributed earnings allocated to unvested stock	—		—		—		—
Earnings (loss) from continuing operations available to common shareholders — Diluted	$	(18)	$	240	$	122	$	416

Weighted average common shares outstanding — Basic	45,975		49,852		46,176		50,474
Effect of dilutive equity awards	—		1,073		980		1,226
Weighted average common shares outstanding — Diluted	45,975		50,925		47,156		51,700

Earnings (loss) from continuing operations per common share — Diluted	$	(0.39)	$	4.72	$	2.60	$	8.05

Anti-dilutive equity awards not included in diluted EPS	2,531		1,068		1,579		765

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Note: Amounts may not be additive due to rounding.