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STOCKHOLDERS' EQUITY
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
STOCKHOLDERS' EQUITY
NOTE 10 - STOCKHOLDERS’ EQUITY
Preferred Stock
The following table summarizes the Company’s preferred stock:
March 31, 2026December 31, 2025
(dollars in millions, except per share data)Liquidation value per sharePreferred SharesCarrying AmountPreferred SharesCarrying Amount
Authorized ($25 par value per share)
100,000,000 100,000,000 
Issued and outstanding:
Series B$1,000 300,000 $296 300,000 $296 
Series C1,000 300,000 297 300,000 297 
Series E1,000 
(1)
450,000 
(2)
437 450,000 437 
Series G1,000 300,000 296 300,000 296 
Series H
1,000 
(1)
400,000 
(3)
392 400,000 392 
Series I
1,000 
(1)
400,000 
(4)
393 400,000 393 
Total2,150,000 $2,111 2,150,000 $2,111 
(1) Equivalent to $25 per depositary share.
(2) Represented by 18,000,000 depositary shares each representing a 1/40th interest in the Series E Preferred Stock.
(3) Represented by 16,000,000 depositary shares each representing a 1/40th interest in the Series H Preferred Stock.
(4) Represented by 16,000,000 depositary shares each representing a 1/40th interest in the Series I Preferred Stock.
For further detail regarding the terms and conditions of the Company’s preferred stock, see Note 15 in the Company’s 2025 Form 10-K.
Dividends
The following tables summarize the Company’s common and preferred stock dividend activity:
Three Months Ended March 31, 2026Three Months Ended March 31, 2025
(dollars in millions, except per share data)Dividends Declared per ShareDividends DeclaredDividends PaidDividends Declared per ShareDividends DeclaredDividends Paid
Common stock$0.46 $198 $198 $0.42 $186 $186 
Preferred stock
Series B$17.29 $5 $5 $19.11 $6 $6 
Series C17.67 5 6 19.50 6 6 
Series E12.50 6 6 12.50 5 6 
Series F— — — 14.13 6 6 
Series G10.00 3 3 10.00 3 3 
Series H18.44 7 7 18.44 7 7 
Series I
16.25 7 11 — — — 
Total preferred stock$33 $38 $33 $34 
Treasury Stock
During the three months ended March 31, 2026 and 2025, the Company repurchased $300 million, or 4,807,769 shares, and $200 million, or 4,483,894 shares, respectively, of its outstanding common stock, which are held in treasury stock.