Net Income Per Common Share

3 Months Ended

Mar. 31, 2026

Note 10 - Net Income Per Common Share

The following table displays a reconciliation of the information used in calculating basic and diluted net income per common share for the three months ended March 31, 2026 and 2025. Diluted net income per common share incorporates the potential impact of contingently issuable shares such as those related to restricted share units (RSUs), and performance share units (PSUs), including awards which require future service and meeting certain performance and market metrics as a condition of delivery of the underlying common stock. During periods where the effect of these instruments is antidilutive, meaning their inclusion would increase earnings per share, they are excluded from the calculation.


	Three Months Ended March 31,
(dollar amounts in millions, except per share data, share count in thousands)	2026		2025
Basic Net Income Per Common Share:
Net income available to common shareholders	$	135	$	136
Weighted average common shares outstanding	150,998		76,727
Net income per common share, basic	$	0.89	$	1.78
Diluted Net Income Per Common Share:
Net income available to common shareholders	$	135	$	136
Weighted average common shares outstanding	150,998		76,727
Effect of dilutive outstanding equity-based awards	473		238
Weighted average diluted common shares	151,471		76,965
Net income per common share, diluted	$	0.89	$	1.77
Anti-dilutive shares (1)	42		277

(1) The effects from the assumed exercise in RSUs and PSUs that have been excluded from the computation of diluted earnings per share because the impact would have been anti-dilutive or because the performance metrics have not been attained as of the reporting period.