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INCOME PER COMMON SHARE
 9 Months Ended
Sep. 30, 2025
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 September 30,Nine Months Ended September 30,
 2025202420252024
Numerator (basic and diluted):
Net income$189 $167 $645 $640 
Less: Allocation to unvested restricted stock awards— — — — 
Net income attributable to common shareholders$189 $167 $645 $640 
Denominator:
Basic common shares (based upon weighted average)209 217 211 219 
Add: Dilutive effect of stock options and other stock-based incentives— — — 1 
Diluted common shares209 218 211 220 
For the three and nine months ended September 30, 2025, basic and diluted income per common share were calculated using the treasury stock method. For the three and nine months ended September 30, 2024, 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,
 2025202420252024
Number of stock options 395 53 368 168 
Number of restricted stock units — — 125 — 
Number of performance restricted stock units 47 — 47 — 
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, 2025, we repurchased and retired approximately 5.1 million shares of our common stock (including 0.3 million shares to offset the dilutive impact of restricted stock units granted in the nine months ended September 30, 2025) for approximately $357 million, inclusive of excise tax of $3 million. At September 30, 2025, we had approximately $542 million remaining under the 2022 authorization.
K. INCOME PER COMMON SHARE (Concluded)
We have declared and paid cash dividends per common share of $0.31 and $0.93 for the three and nine months ended September 30, 2025, respectively, and $0.29 and $0.87 for the three and nine months ended September 30, 2024, respectively.