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EARNINGS PER COMMON SHARE (Tables) | 9 Months Ended
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Sep. 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 September 30, |  | Nine Months Ended September 30,
(Dollars in millions, except per share amounts) | 2023 |  | 2022 |  | 2023 |  | 2022
Net income (loss) per share: |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |
Net income (loss) | $ | 678 |  |  | $ | (319) |  |  | $ | 1,713 |  |  | $ | 101 |
Less: dividends declared - common shares and unvested common shares | (76) |  |  | (65) |  |  | (212) |  |  | (191) |
Undistributed earnings | 602 |  |  | (384) |  |  | 1,501 |  |  | (90) |
Percentage allocated to common shareholders (1) | 98.9 | % |  | 100.0 | % |  | 98.8 | % |  | 98.7 | %
| 595 |  |  | (384) |  |  | 1,483 |  |  | (88) |
Add: dividends declared - common shareholders | 75 |  |  | 65 |  |  | 210 |  |  | 188 |
Numerator for basic and diluted earnings per common share | $ | 671 |  |  | $ | (319) |  |  | $ | 1,693 |  |  | $ | 100 |
Denominator |  |  |  |  |  |  |
Denominator for basic earnings per weighted-average common shares | 42.9 |  | 38.8 |  | 40.8 |  | 38.8
Effect of dilutive securities: |  |  |  |  |  |  |
Options | — |  | — |  | — |  | —
Denominator for diluted earnings per adjusted weighted-average common shares | 42.9 |  | 38.8 |  | 40.8 |  | 38.8
Per common share net income (loss) |  |  |  |  |  |  |
Basic | $ | 15.63 |  |  | $ | (8.22) |  |  | $ | 41.49 |  |  | $ | 2.57 |
Diluted | $ | 15.63 |  |  | $ | (8.22) |  |  | $ | 41.49 |  |  | $ | 2.57 |
(1) Basic weighted - average common shares outstanding | 42.9 |  | 38.8 |  | 40.8 |  | 38.8
Basic weighted - average common shares outstanding and unvested common shares expected to vest | 43.4 |  | 38.8 |  | 41.3 |  | 39.4
Percentage allocated to common shareholders | 98.9 | % |  | 100.0 | % |  | 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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