| Earnings Per Share |
Note 18. Earnings Per Share Basic earnings per share ("EPS") is computed using the weighted-average number of common shares outstanding during the period. Diluted earnings per share is calculated based on the weighted-average number of common shares outstanding for the period plus the dilutive effect of common stock equivalents using the treasury stock method. The details of the EPS calculations for the three and six months ended June 30, 2025 and 2024 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | (Dollars in millions except per share) | Basic earnings per share: | | | | | | | | | Net income | $ | 87 | | | $ | 64 | | | $ | 149 | | | $ | 130 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Weighted average common shares outstanding – Basic | 202,672,945 | | | 224,321,948 | | | 203,886,530 | | | 230,493,039 | | | EPS – Basic | $ | 0.43 | | | $ | 0.29 | | | $ | 0.73 | | | $ | 0.56 | | | | | | | | | | Diluted earnings per share: | | | | | | | | | | | | | | | | | Weighted average common shares outstanding – Basic | 202,672,945 | | | 224,321,948 | | | 203,886,530 | | | 230,493,039 | | Dilutive effect of unvested RSUs and other contingently issuable shares | 2,582,088 | | | 1,576,866 | | | 2,547,445 | | | 1,962,044 | | | | | | | | | | | Weighted average common shares outstanding – Diluted | 205,255,033 | | | 225,898,814 | | | 206,433,975 | | | 232,455,083 | | | EPS – Diluted | $ | 0.42 | | | $ | 0.28 | | | $ | 0.72 | | | $ | 0.56 | |
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