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EARNINGS PER SHARE (Tables) | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Calculation of Earnings Per Common Share | The following table represents the calculation of earnings per common share – basic and diluted:
|  | Third Quarter |  |  | Year-to-Date |
(In millions, except per share amounts) |  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Basic Earnings Per Share |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 70 |  |  | $ | 67 |  |  | $ | 176 |  |  | $ | 142 |
Income from discontinued operations, net of tax |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7 |
Net income |  | $ | 70 |  |  | $ | 67 |  |  | $ | 176 |  |  | $ | 149 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 38 |  |  |  | 48 |  |  |  | 39 |  |  |  | 49 |
Basic earnings per share |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 1.83 |  |  | $ | 1.39 |  |  | $ | 4.52 |  |  | $ | 2.92 |
Discontinued operations |  |  | — |  |  |  | (0.01 | ) |  |  | — |  |  |  | 0.14 |
Net basic earnings per share |  | $ | 1.83 |  |  | $ | 1.38 |  |  | $ | 4.52 |  |  | $ | 3.06 |
Diluted Earnings Per Share |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income from continuing operations |  | $ | 70 |  |  | $ | 67 |  |  | $ | 176 |  |  | $ | 142 |
Income from discontinued operations, net of tax |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7 |
Net income |  | $ | 70 |  |  | $ | 67 |  |  | $ | 176 |  |  | $ | 149 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares outstanding |  |  | 38 |  |  |  | 48 |  |  |  | 39 |  |  |  | 49 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock |  |  | 1 |  |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Diluted weighted-average shares outstanding |  |  | 39 |  |  |  | 49 |  |  |  | 40 |  |  |  | 50 |
Diluted earnings per share |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 1.79 |  |  | $ | 1.36 |  |  | $ | 4.38 |  |  | $ | 2.84 |
Discontinued operations |  |  | — |  |  |  | (0.01 | ) |  |  | — |  |  |  | 0.13 |
Net diluted earnings per share |  | $ | 1.79 |  |  | $ | 1.35 |  |  | $ | 4.38 |  |  | $ | 2.97 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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