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INCOME PER COMMON SHARE
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
INCOME PER COMMON SHARE
K. INCOME PER COMMON SHARE

Reconciliations of the numerators and denominators used in the computations of basic and diluted income per common share were as follows, in millions:
Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
Numerator (basic and diluted):
Net income$263 $278 $468 $511 
Less: Allocation to redeemable noncontrolling interest— 1 — — 
Less: Allocation to unvested restricted stock awards— 1 — 2 
Net income attributable to common shareholders$263 $276 $468 $509 
Denominator:
Basic common shares (based upon weighted average)225 231 226 235 
Add: Stock option dilution1 2 — 2 
Diluted common shares226 233 226 237 
For the three and six months ended June 30, 2023 and 2022, we allocated dividends and undistributed earnings to the unvested restricted stock awards.
The following stock options, restricted stock units and performance restricted stock units were excluded from the computation of weighted-average diluted common shares outstanding due to their anti-dilutive effect, in thousands:
Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
Number of stock options 897670843599
Number of restricted stock units 11324920217 
Number of performance restricted stock units 15— 15— 
Effective October 20, 2022, our Board of Directors authorized the repurchase, for retirement, of up to $2.0 billion of shares of our common stock in open-market transactions or otherwise, replacing the previous Board of Directors authorization established in 2021. We repurchased and retired approximately 1.6 million shares of our common stock in the six months ended June 30, 2023 for approximately $81 million. This included 0.2 million shares to offset the dilutive impact of restricted stock units granted in the six months ended June 30, 2023. At June 30, 2023, we had approximately $1.9 billion remaining under the 2022 authorization.
We have declared and paid cash dividends per common share of $0.285 and $0.570 for the three and six months ended June 30, 2023, respectively, and $0.280 and $0.560 for the three and six months ended June 30, 2022, respectively.