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EARNINGS PER COMMON SHARE (Tables) | 9 Months Ended
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Sep. 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.
(Dollars in millions, except per share amounts) | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Net income (loss) per share: |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |
Net income (loss) | $ | 509 |  | $ | 678 |  | $ | 1,966 |  | $ | 1,713
Less: dividends declared - common shares and unvested common shares | (86) |  | (76) |  | (249) |  | (212)
Undistributed earnings | 423 |  | 602 |  | 1,717 |  | 1,501
Percentage allocated to common shareholders (1) | 98.8% |  | 98.9% |  | 98.8% |  | 98.8%
| 418 |  | 595 |  | 1,697 |  | 1,483
Add: dividends declared - common shareholders | 85 |  | 75 |  | 246 |  | 210
Numerator for basic and diluted earnings per common share | $ | 503 |  | $ | 671 |  | $ | 1,943 |  | $ | 1,693
Denominator |  |  |  |  |  |  |
Denominator for basic earnings per weighted-average common shares | 42.6 |  | 42.9 |  | 42.8 |  | 40.8
Effect of dilutive securities: |  |  |  |  |  |  |
Options | — |  | — |  | — |  | —
Denominator for diluted earnings per adjusted weighted-average common shares | 42.6 |  | 42.9 |  | 42.8 |  | 40.8
Per common share net income (loss) |  |  |  |  |  |  |
Basic | $ | 11.80 |  | $ | 15.63 |  | $ | 45.40 |  | $ | 41.49
Diluted | $ | 11.80 |  | $ | 15.63 |  | $ | 45.40 |  | $ | 41.49
(1) Basic weighted - average common shares outstanding | 42.6 |  | 42.9 |  | 42.8 |  | 40.8
Basic weighted - average common shares outstanding and unvested common shares expected to vest | 43.1 |  | 43.4 |  | 43.3 |  | 41.3
Percentage allocated to common shareholders | 98.8% |  | 98.9% |  | 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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