v3.26.3
EQUITY AND OTHER STOCK RELATED INFORMATION
 9 Months Ended
Sep. 30, 2026
Equity [Abstract]  
Equity and Other Stock Related Information EQUITY AND OTHER STOCK RELATED INFORMATION
Preferred Stock
At September 30, 2026 and December 31, 2025, the Company had 1.26 million and 1.25 million shares, respectively, of preferred stock outstanding. In addition, subject to approval from the Board, we have the ability to issue additional series of preferred stock up to a maximum of 300 million shares at a par value of $0.001 per share authorized for issuance.
The following table summarizes the Company's preferred stock issued and outstanding at September 30, 2026 and December 31, 2025:
Series(a)
Issuance DateRedeemable by Issuer BeginningPer Annum Dividend RateLiquidation Preference per ShareTotal Shares OutstandingSeptember 30, 2026December 31, 2025
($ in millions, except per share data)
Series ANovember 14, 2019November 15, 20245.625%$1,000750,000$734 $734 
Series BFebruary 23, 2024May 15, 2029
8.25%(b)
$1,000500,000$488 $488 
Series CJune 5, 2026August 15, 2031
7.25%(c)
$100,0005,000$494 $— 
Total$1,716 $1,222 
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(a)Issued as depositary shares, each representing a 1/40th interest in a share of Series A and B non-cumulative perpetual preferred stock, and representing a 1/100th interest in a share of Series C non-cumulative perpetual preferred stock. Dividends are payable quarterly on February 15, May 15, August 15 and November 15 of each calendar year at a fixed rate, in each case when, as and if declared by the Board of Directors.
(b)Through May 14, 2029; resets May 15, 2029 and each date falling on the fifth anniversary at 5-Year Treasury Rate plus 4.044%.
(c)Through August 14, 2031; resets August 15, 2031 and each date falling on the fifth anniversary at 5-Year Treasury Rate plus 3.078%.