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Net Income Per Common Share
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Net Income Per Common Share NET INCOME PER COMMON SHARE
Basic and diluted net income per common share are presented in the following table.
Three Months Ended September 30,Nine Months Ended September 30,
(in millions, except per share data)2023202220232022
Basic and diluted
Net income$251 $351 $848 $801 
Less:
Income allocated to participating securities1 2 4 4 
Preferred stock dividends6 6 17 17 
Net income attributable to common shares$244 $343 $827 $780 
Basic average common shares132 131 132 131 
Basic net income per common share$1.85 $2.63 $6.27 $5.96 
Basic average common shares132 131 132 131 
Dilutive common stock equivalents:
Net effect of the assumed exercise of stock awards1 1 1 2 
Diluted average common shares133 132 133 133 
Diluted net income per common share$1.84 $2.60 $6.24 $5.88 
The following average shares related to outstanding options to purchase shares of common stock that 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 September 30,Nine Months Ended September 30,
(average outstanding options in thousands)2023202220232022
Average outstanding options1,633 373 1,540 337 
Range of exercise prices
 $49.20 - $95.25
$79.01 - $95.25
$49.20 - $95.25
$70.18 - $95.25