EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2024

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:

	Three months ended March 31,
(Dollars in millions, except per share amounts; share amounts in thousands)	2024		2023
Earnings per share — Basic (1):
Earnings from continuing operations	$	85	$	140
Less: Distributed and undistributed earnings allocated to unvested stock	—		(1)
Earnings from continuing operations available to common shareholders	$	85	$	139
Weighted average common shares outstanding	43,858		46,377
Earnings from continuing operations per common share — Basic	$	1.93	$	3.00
Earnings per share — Diluted: (1)
Earnings from continuing operations	$	85	$	140
Less: Distributed and undistributed earnings allocated to unvested stock	—		—
Earnings from continuing operations available to common shareholders — Diluted	$	85	$	140
Weighted average common shares outstanding — Basic	43,858		46,377
Effect of dilutive equity awards	1,142		1,097
Weighted average common shares outstanding — Diluted	45,000		47,474
Earnings from continuing operations per common share — Diluted	$	1.89	$	2.95
Anti-dilutive equity awards not included in diluted EPS	81		627

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(1)Amounts in the table may not recalculate exactly due to rounding of earnings and shares.