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STOCKHOLDERS' EQUITY (Tables) | 3 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Schedule of preferred stock | The following table summarizes the Company’s preferred stock:
|  |  | March 31, 2024 |  | December 31, 2023
(dollars in millions, except per share data) | Liquidation value per share |  | Preferred Shares |  | Carrying Amount |  | Preferred Shares |  | Carrying Amount
Authorized ($25 par value per share) |  |  | 100,000,000 |  |  |  |  | 100,000,000 |  |  |
Issued and outstanding: |  |  |  |  |  |  |  |  |
Series B | $1,000 |  |  | 300,000 |  |  | $296 |  |  | 300,000 |  |  | $296 |
Series C | 1,000 |  |  | 300,000 |  |  | 297 |  |  | 300,000 |  |  | 297 |
Series D | 1,000 |  | (1) | 300,000 |  | (2) | 293 |  |  | 300,000 |  |  | 293 |
Series E | 1,000 |  | (1) | 450,000 |  | (3) | 437 |  |  | 450,000 |  |  | 437 |
Series F | 1,000 |  |  | 400,000 |  |  | 395 |  |  | 400,000 |  |  | 395 |
Series G | 1,000 |  |  | 300,000 |  |  | 296 |  |  | 300,000 |  |  | 296 |
Total |  |  | 2,050,000 |  |  | $2,014 |  |  | 2,050,000 |  |  | $2,014 |
(1) Equivalent to $25 per depositary share. (2) Represented by 12,000,000 depositary shares each representing a 1/40th interest in the Series D Preferred Stock. (3) Represented by 18,000,000 depositary shares each representing a 1/40th interest in the Series E Preferred Stock.
Schedule of dividends | The following table summarizes the Company’s dividend activity for the three months ended March 31, 2024 and 2023.
|  | Three Months Ended March 31, 2024 |  | Three Months Ended March 31, 2023
(dollars in millions, except per share data) |  | Dividends Declared per Share | Dividends Declared | Dividends Paid |  | Dividends Declared per Share | Dividends Declared | Dividends Paid
Common stock |  | $0.42 |  | $197 |  | $197 |  |  | $0.42 |  | $205 |  | $205 |
Preferred stock |  |  |  |  |  |  |  |
Series B |  | $21.72 |  | $7 |  | $7 |  |  | $— |  | $— |  | $9 |
Series C |  | 15.94 |  | 5 |  | 5 |  |  | 15.94 |  | 5 |  | 5 |
Series D |  | 15.88 |  | 5 |  | 5 |  |  | 15.88 |  | 5 |  | 5 |
Series E |  | 12.50 |  | 5 |  | 5 |  |  | 12.50 |  | 5 |  | 5 |
Series F |  | 14.13 |  | 5 |  | 6 |  |  | 14.13 |  | 5 |  | 6 |
Series G |  | 10.00 |  | 3 |  | 3 |  |  | 10.00 |  | 3 |  | 3 |
Total preferred stock |  |  | $30 |  | $31 |  |  |  | $23 |  | $33 |

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