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EARNINGS PER COMMON SHARE | 3 Months Ended
--- | ---
Mar. 31, 2024
Earnings Per Share [Abstract] |
EARNINGS PER COMMON SHARE | EARNINGS PER COMMON SHARE The following table presents a reconciliation of net income (loss) and weighted-average common shares used in calculating basic and diluted earnings per common share:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023 |  |
|  |  |  |  | (in millions, except per share data)
Weighted-average common shares outstanding: |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding — basic |  |  |  |  | 330.2 |  |  | 361.9 |  |  |
Effect of dilutive potential common shares: |  |  |  |  |  |  |  |  |
Employee share awards (1) |  |  |  |  | 2.5 |  |  | 2.2 |  |  |
Weighted-average common shares outstanding — diluted |  |  |  |  | 332.7 |  |  | 364.1 |  |  |
Net income (loss): |  |  |  |  |  |  |  |  |
Net income (loss) |  |  |  |  | $ | 217 |  |  | $ | 266 |  |  |
Less: Net income (loss) attributable to the noncontrolling interest |  |  |  |  | 103 |  |  | 89 |  |  |
Net income (loss) attributable to Holdings |  |  |  |  | 114 |  |  | 177 |  |  |
Less: Preferred stock dividends |  |  |  |  | 14 |  |  | 14 |  |  |
Net income (loss) available to Holdings’ common shareholders |  |  |  |  | $ | 100 |  |  | $ | 163 |  |  |
Earnings per common share: |  |  |  |  |  |  |  |  |
Basic |  |  |  |  | $ | 0.30 |  |  | $ | 0.45 |  |  |
Diluted |  |  |  |  | $ | 0.30 |  |  | $ | 0.45 |  |  |
______________ (1)Calculated using the treasury stock method. For the three months ended March 31, 2024 and 2023, 3.0 million and 2.5 million, respectively, of outstanding stock awards, were not included in the computation of diluted earnings per share because their effect was anti-dilutive.

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