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NET INCOME PER SHARE (Tables) | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Net Income Per Share of Common Stock | Net income per share of common stock is as follows for the three-month periods ended March 31, 2024 and 2023:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  |  |  |  |  | Basic |  | Diluted |  | Basic |  | Diluted
Net income per common share (1) |  |  |  |  |  |  |  |  | $ | 6.78 |  |  | $ | 6.78 |  |  | $ | 4.01 |  |  | $ | 3.97 |
Numerator (in millions): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  |  |  |  |  |  |  |  | $ | 344 |  |  | $ | 344 |  |  | $ | 201 |  |  | $ | 201 |
Effect of dilutive 2028 Notes |  |  |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | 2 |
Net income available to common stock |  |  |  |  |  |  |  |  | $ | 344 |  |  | $ | 344 |  |  | $ | 201 |  |  | $ | 203 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average of common stock outstanding for earnings per share |  |  |  |  |  |  |  |  | 50,697,442 |  | 50,697,442 |  | 50,245,073 |  | 50,245,073
Adjustment for assumed conversions |  |  |  |  |  |  |  |  | — |  | — |  | — |  | 990,268
Adjusted weighted average of common stock outstanding for earnings per share |  |  |  |  |  |  |  |  | 50,697,442 |  | 50,697,442 |  | 50,245,073 |  | 51,235,341
(1) Figures have been calculated using non-rounded amounts.

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