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INCOME PER COMMON SHARE | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
INCOME PER COMMON SHARE | L. 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 September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Numerator (basic and diluted): |  |  |  |  |  |  |
Net income | $ | 249 |  |  | $ | 218 |  |  | $ | 717 |  |  | $ | 729 |
Less: Allocation to redeemable noncontrolling interest | — |  |  | (2) |  |  | — |  |  | (2) |
Less: Allocation to unvested restricted stock awards | — |  |  | — |  |  | — |  |  | 3 |
Net income attributable to common shareholders | $ | 249 |  |  | $ | 220 |  |  | $ | 717 |  |  | $ | 728 |
Denominator: |  |  |  |  |  |  |
Basic common shares (based upon weighted average) | 225 |  |  | 226 |  |  | 225 |  |  | 232 |
Add: Stock option dilution | 1 |  |  | 1 |  |  | 1 |  |  | 1 |
Diluted common shares | 226 |  |  | 227 |  |  | 226 |  |  | 233 |
For the three and nine months ended September 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 September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Number of stock options | 392 |  | 670 |  | 861 |  | 623
Number of restricted stock units | 8 |  | 4 |  | 4 |  | 22 |
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 2.4 million shares of our common stock in the nine months ended September 30, 2023 for approximately $126 million. This included 0.2 million shares to offset the dilutive impact of restricted stock units granted in the nine months ended September 30, 2023. At September 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 $0.855 for the three and nine months ended September 30, 2023, respectively, and $0.280 and $0.840 for the three and nine months ended September 30, 2022, respectively.

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