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Net Income Per Common Share (Tables)
3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Basic And Diluted Net Income Per Common Share
Basic and diluted net income per common share are presented in the following table.
Three Months Ended March 31,
(in millions, except per share data)20232022
Basic and diluted
Net income$324 $189 
Less:
Income allocated to participating securities
Preferred stock dividends
Net income attributable to common shares$317 $182 
Basic average common shares131 131 
Basic net income per common share$2.41 $1.39 
Basic average common shares131 131 
Dilutive common stock equivalents:
Net effect of the assumed exercise of stock awards
Diluted average common shares132 133 
Diluted net income per common share$2.39 $1.37 
Schedule of Average Shares Excluded From Diluted Net Income Per Common Share Computation
The following average shares related to outstanding options to purchase shares of common stock were not included in the computation of diluted net income per common share because the options were anti-dilutive for the period.
Three Months Ended March 31,
(average outstanding options in thousands)20232022
Average outstanding options1,545 322 
Range of exercise prices
 $60.12 - $95.25
$92.58 - $95.25