Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Reconciliation of Earnings Per Common and Diluted Share

The computations of basic and diluted earnings per common share were as follows.


EARNINGS PER SHARE COMPUTATIONS
	Three Months Ended March 31,
(Dollars in millions, except per share data; shares in thousands)	2026		2025
Net income	$	266	$	222
Net income attributable to noncontrolling interest	4		4
Net income attributable to controlling interest	262		218
Preferred stock dividends	5		5
Net income available to common shareholders	$	257	$	213

Weighted average common shares outstanding—basic	480,307		517,116
Effect of dilutive restricted stock, performance equity awards and options	6,561		6,307

Weighted average common shares outstanding—diluted	486,868		523,423

Basic earnings per common share	$	0.54	$	0.41
Diluted earnings per common share	$	0.53	$	0.41

Schedule of Anti-Dilutive Options and Awards

The following table presents average outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they

were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met.


ANTI-DILUTIVE EQUITY AWARDS
	Three Months Ended March 31,
(Shares in thousands)	2026		2025
Stock options excluded from the calculation of diluted EPS	—		—
Weighted average exercise price of stock options excluded from the calculation of diluted EPS	$	—	$	—
Other equity awards excluded from the calculation of diluted EPS	1,418		2,396