EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

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

	Years ended December 31,
(Dollars in millions, except per share amounts; share amounts in thousands)	2023		2022		2021
Earnings per common share — Basic
Earnings from continuing operations	$	406	$	863	$	522
Less: Distributed and undistributed earnings allocated to unvested stock	(2)		(5)		(2)
Earnings from continuing operations available to common shareholders	$	404	$	858	$	520
Weighted average common shares outstanding	45,383		49,549		52,338
Earnings from continuing operations per common share — Basic	$	8.89	$	17.32	$	9.92
Earnings per common share — Diluted
Earnings from continuing operations	$	406	$	863	$	522
Less: Distributed and undistributed earnings allocated to unvested stock	—		—		(2)
Earnings from continuing operations available to common shareholders — Diluted	$	406	$	863	$	520
Weighted average common shares outstanding — Basic	45,383		49,549		52,338
Effect of dilutive equity awards	1,104		1,337		1,170
Weighted average common shares outstanding — Diluted	46,486		50,887		53,508
Earnings from continuing operations per common share — Diluted	$	8.73	$	16.96	$	9.70
Anti-dilutive equity awards not included in diluted EPS	825		662		682

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Amounts in the table may not recalculate due to rounding of earnings and shares.