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Net Income Per Common Share (Tables)
12 Months Ended
Dec. 31, 2024
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.
(in millions, except per share data)
Years Ended December 31202420232022
Basic and diluted
Net income$698 $881 $1,151 
Less:
Income allocated to participating securities4 
Preferred stock dividends23 23 23 
Net income attributable to common shares$671 $854 $1,122 
Basic average common shares133 132 131 
Basic net income per common share$5.06 $6.47 $8.56 
Basic average common shares133 132 131 
Dilutive common stock equivalents:
Net effect of the assumed exercise of stock awards1 
Diluted average common shares134 133 133 
Diluted net income per common share$5.02 $6.44 $8.47 
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.
(average outstanding options in thousands)
Years Ended December 31202420232022
Average outstanding options1,7921,631543
Range of exercise prices
$53.96 - $95.25
$49.20 - $95.25
$70.18 - $95.25