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EARNINGS PER COMMON SHARE (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, |  | Six Months Ended June 30,
(Dollars in millions, except per share amounts) | 2023 |  | 2022 |  | 2023 |  | 2022
Net income (loss) per share: |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |
Net income (loss) | $ | 670 |  |  | $ | 123 |  |  | $ | 1,035 |  |  | $ | 420 |
Less: dividends declared - common shares and unvested common shares | (72) |  |  | (65) |  |  | (136) |  |  | (126) |
Undistributed earnings | 599 |  |  | 58 |  |  | 899 |  |  | 294 |
Percentage allocated to common shareholders (1) | 98.8 | % |  | 98.6 | % |  | 98.8 | % |  | 98.7 | %
| 591 |  |  | 57 |  |  | 888 |  |  | 290 |
Add: dividends declared - common shareholders | 71 |  |  | 64 |  |  | 135 |  |  | 124 |
Numerator for basic and diluted earnings per common share | $ | 662 |  |  | $ | 121 |  |  | $ | 1,022 |  |  | $ | 415 |
Denominator |  |  |  |  |  |  |
Denominator for basic earnings per weighted-average common shares | 40.7 |  | 38.9 |  | 39.7 |  | 38.9
Effect of dilutive securities: |  |  |  |  |  |  |
Options | — |  | — |  | — |  | —
Denominator for diluted earnings per adjusted weighted-average common shares | 40.7 |  | 38.9 |  | 39.7 |  | 38.9
Per common share net income (loss) |  |  |  |  |  |  |
Basic | $ | 16.26 |  |  | $ | 3.11 |  |  | $ | 25.74 |  |  | $ | 10.67 |
Diluted | $ | 16.26 |  |  | $ | 3.11 |  |  | $ | 25.74 |  |  | $ | 10.67 |
(1) Basic weighted - average common shares outstanding | 40.7 |  | 38.9 |  | 39.7 |  | 38.9
Basic weighted - average common shares outstanding and unvested common shares expected to vest | 41.2 |  | 39.4 |  | 40.2 |  | 39.4
Percentage allocated to common shareholders | 98.8 | % |  | 98.6 | % |  | 98.8 | % |  | 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 -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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