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Net Income Per Common Share
 3 Months Ended
Mar. 31, 2025
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 March 31,
(in millions, except per share data)20252024
Basic and diluted
Net income$172 $138 
Less:
Income allocated to participating securities1 1 
Preferred stock dividends6 6 
Net income attributable to common shares$165 $131 
Basic average common shares132 132 
Basic net income per common share$1.26 $0.99 
Basic average common shares132 132 
Dilutive common stock equivalents:
Net effect of the assumed exercise of stock awards1 1 
Diluted average common shares133 133 
Diluted net income per common share$1.25 $0.98 
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 March 31,
(average outstanding options in thousands)20252024
Average outstanding options1,252 1,785 
Range of exercise prices
 $63.15 - $95.25
$53.96 - $95.25