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EARNINGS PER COMMON SHARE (Tables) | 3 Months Ended
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Mar. 31, 2023
Earnings Per Share [Abstract] |
Schedule of Net Income (Loss) per Common Share | Net income (loss) per common share has been computed as per below, based upon weighted average common basic and dilutive shares outstanding.
|  |  | Three Months Ended March 31,
(Dollars in millions, except per share amounts) |  |  |  |  | 2023 |  | 2022
Net income (loss) per share: |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |
Net income (loss) |  |  |  |  | $ | 365 |  |  | $ | 298 |
Less: dividends declared-common shares and unvested common shares |  |  |  |  | (65) |  |  | (61) |
Undistributed earnings |  |  |  |  | 300 |  |  | 237 |
Percentage allocated to common shareholders (1) |  |  |  |  | 98.7 | % |  | 98.7 | %
|  |  |  |  | 296 |  |  | 234 |
Add: dividends declared-common shareholders |  |  |  |  | 64 |  |  | 60 |
Numerator for basic and diluted earnings per common share |  |  |  |  | $ | 360 |  |  | $ | 294 |
Denominator |  |  |  |  |  |  |
Denominator for basic earnings per weighted-average common shares |  |  |  |  | 38.7 |  | 38.8
Effect of dilutive securities: |  |  |  |  |  |  |
Options |  |  |  |  | — |  | —
Denominator for diluted earnings per adjusted weighted-average common shares |  |  |  |  | 38.7 |  | 38.8
Per common share net income (loss) |  |  |  |  |  |  |
Basic |  |  |  |  | $ | 9.31 |  |  | $ | 7.57 |
Diluted |  |  |  |  | $ | 9.31 |  |  | $ | 7.56 |
(1) Basic weighted-average common shares outstanding |  |  |  |  | 38.7 |  | 38.8
Basic weighted-average common shares outstanding and unvested common shares expected to vest |  |  |  |  | 39.2 |  | 39.3
Percentage allocated to common shareholders |  |  |  |  | 98.7 | % |  | 98.7 | %
(Some amounts may not reconcile due to rounding.)

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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