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EARNINGS PER COMMON SHARE (Tables) | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Schedule of Net Income (Loss) per Common Share | Net income (loss) per common share has been computed as shown 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) | 2024 |  | 2023 |  | 2024 |  | 2023
Net income (loss) per share: |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |
Net income (loss) | $ | 724 |  | $ | 670 |  | $ | 1,457 |  | $ | 1,035
Less: dividends declared - common shares and unvested common shares | (87) |  | (72) |  | (163) |  | (136)
Undistributed earnings | 637 |  | 599 |  | 1,294 |  | 899
Percentage allocated to common shareholders (1) | 98.8% |  | 98.8% |  | 98.8% |  | 98.8%
| 630 |  | 591 |  | 1,279 |  | 888
Add: dividends declared - common shareholders | 86 |  | 71 |  | 161 |  | 135
Numerator for basic and diluted earnings per common share | $ | 715 |  | $ | 662 |  | $ | 1,440 |  | $ | 1,022
Denominator |  |  |  |  |  |  |
Denominator for basic earnings per weighted-average common shares | 42.8 |  | 40.7 |  | 42.9 |  | 39.7
Effect of dilutive securities: |  |  |  |  |  |  |
Options | — |  | — |  | — |  | —
Denominator for diluted earnings per adjusted weighted-average common shares | 42.8 |  | 40.7 |  | 42.9 |  | 39.7
Per common share net income (loss) |  |  |  |  |  |  |
Basic | $ | 16.70 |  | $ | 16.26 |  | $ | 33.57 |  | $ | 25.74
Diluted | $ | 16.70 |  | $ | 16.26 |  | $ | 33.57 |  | $ | 25.74
(1) Basic weighted - average common shares outstanding | 42.8 |  | 40.7 |  | 42.9 |  | 39.7
Basic weighted - average common shares outstanding and unvested common shares expected to vest | 43.4 |  | 41.2 |  | 43.4 |  | 40.2
Percentage allocated to common shareholders | 98.8% |  | 98.8% |  | 98.8% |  | 98.8%
(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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