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Earnings Per Share | 6 Months Ended
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Jun. 30, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The computations of basic and diluted earnings per common share were as follows.
EARNINGS PER SHARE COMPUTATIONS
| Three Months Ended June 30, |  |  |  | Six Months Ended June 30,
(Dollars in millions, except per share data; shares in thousands) | 2025 |  | 2024 |  |  |  |  |  | 2025 |  | 2024
Net income | $ | 245 |  |  | $ | 204 |  |  |  |  |  |  | $ | 467 |  |  | $ | 401 |
Net income attributable to noncontrolling interest | 4 |  |  | 5 |  |  |  |  |  |  | 8 |  |  | 10 |
Net income attributable to controlling interest | 241 |  |  | 199 |  |  |  |  |  |  | 459 |  |  | 391 |
Preferred stock dividends | 8 |  |  | 15 |  |  |  |  |  | 13 |  |  | 23 |
Net income available to common shareholders | $ | 233 |  |  | $ | 184 |  |  |  |  |  |  | $ | 446 |  |  | $ | 368 |
Weighted average common shares outstanding—basic | 508,125 |  |  | 543,981 |  |  |  |  |  |  | 512,596 |  |  | 549,479 |
Effect of dilutive restricted stock, performance equity awards and options | 5,481 |  |  | 3,112 |  |  |  |  |  |  | 6,105 |  |  | 3,060 |
Weighted average common shares outstanding—diluted | 513,606 |  |  | 547,093 |  |  |  |  |  |  | 518,701 |  |  | 552,539 |
Basic earnings per common share | $ | 0.46 |  |  | $ | 0.34 |  |  |  |  |  |  | $ | 0.87 |  |  | $ | 0.67 |
Diluted earnings per common share | $ | 0.45 |  |  | $ | 0.34 |  |  |  |  |  |  | $ | 0.86 |  |  | $ | 0.67 |
The following table presents average outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met.
ANTI-DILUTIVE EQUITY AWARDS
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |  |
(Shares in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |
Stock options excluded from the calculation of diluted EPS |  | — |  |  | 1,388 |  |  | — |  |  | 1,458 |  |  |  |  |
Weighted average exercise price of stock options excluded from the calculation of diluted EPS |  | $ | — |  |  | $ | 16.48 |  |  | $ | — |  |  | $ | 16.59 |  |  |  |  |
Other equity awards excluded from the calculation of diluted EPS |  | 3,522 |  |  | 6,828 |  |  | 2,752 |  |  | 6,819 |  |  |  |  |

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