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INCOME PER COMMON SHARE
 9 Months Ended
Sep. 30, 2024
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,
 2024202320242023
Numerator (basic and diluted):
Net income$167 $249 $640 $717 
Less: Allocation to unvested restricted stock awards— — — — 
Net income attributable to common shareholders$167 $249 $640 $717 
Denominator:
Basic common shares (based upon weighted average)217 225 219 225 
Add: Dilutive effect of stock options and other stock-based incentives— 1 1 1 
Diluted common shares218 226 220 226 
For the three and nine months ended September 30, 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 September 30,Nine Months Ended September 30,
 2024202320242023
Number of stock options 53 392 168 861 
Number of restricted stock units — 8 — 4 
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, exclusive of excise tax, in open-market transactions or otherwise. During the nine months ended September 30, 2024, we repurchased and retired approximately 6.6 million shares of our common stock (including 0.5 million shares to offset the dilutive impact of restricted stock units granted in the nine months ended September 30, 2024) for approximately $486 million, inclusive of excise tax of $3 million. At September 30, 2024, we had approximately $1.2 billion remaining under the 2022 authorization.
We have declared and paid cash dividends per common share of $0.290 and $0.870 for the three and nine months ended September 30, 2024, respectively, and $0.285 and $0.855 for the three and nine months ended September 30, 2023, respectively.