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INCOME PER COMMON SHARE
 3 Months Ended
Mar. 31, 2024
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 March 31,
 20242023
Numerator (basic and diluted):
Net income$215 $205 
Less: Allocation to unvested restricted stock awards— — 
Net income attributable to common shareholders$215 $205 
Denominator:
Basic common shares (based upon weighted average)221 226 
Add: Dilutive effect of stock options and other stock-based incentives1 1 
Diluted common shares221 227 
For the three months ended March 31, 2024 and 2023, 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 March 31,
 20242023
Number of stock options 109 789 
Number of restricted stock units — 272 
Number of performance restricted stock units — 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, exclusive of excise tax, in open-market transactions or otherwise. We repurchased and retired approximately 2.1 million shares of our common stock in the three months ended March 31, 2024 for approximately $148 million. These share repurchases included 0.4 million shares to offset the dilutive impact of restricted stock units granted in the three months ended March 31, 2024. Cash paid for share repurchases was approximately $145 million in the three months ended March 31, 2024. At March 31, 2024, we had approximately $1.5 billion remaining under the 2022 authorization.
We have declared and paid cash dividends per common share of $0.290 for the three months ended March 31, 2024 and $0.285 for the three months ended March 31, 2023.