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EARNINGS PER COMMON SHARE (Tables) | 3 Months Ended
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Mar. 31, 2025
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 March 31, |  |
| 2025 |  | 2024 |  |  |  |
Net income (loss) per share: |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |
Net income (loss) | $ | 210 |  | $ | 733 |  |  |  |
Less: dividends declared - common shares and unvested common shares | (85) |  | (76) |  |  |  |
Undistributed earnings | 125 |  | 657 |  |  |  |
Percentage allocated to common shareholders (1) | 98.9% |  | 98.9% |  |  |  |
| 123 |  | 649 |  |  |  |
Add: dividends declared - common shareholders | 84 |  | 75 |  |  |  |
Numerator for basic and diluted earnings per common share | $ | 208 |  | $ | 725 |  |  |  |
Denominator |  |  |  |  |  |  |
Denominator for basic earnings per weighted-average common shares | 42.3 |  | 42.9 |  |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |
Options | — |  | — |  |  |  |
Denominator for diluted earnings per adjusted weighted-average common shares | 42.3 |  | 42.9 |  |  |  |
Per common share net income (loss) |  |  |  |  |  |  |
Basic | $ | 4.90 |  | $ | 16.87 |  |  |  |
Diluted | $ | 4.90 |  | $ | 16.87 |  |  |  |
(1) Basic weighted - average common shares outstanding | 42.3 |  | 42.9 |  |  |  |
Basic weighted - average common shares outstanding and unvested common shares expected to vest | 42.8 |  | 43.4 |  |  |  |
Percentage allocated to common shareholders | 98.9% |  | 98.9% |  |  |  |
(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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