Basic earnings per share are calculated by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per share reflect the potential dilution that would occur if options granted under various share-based compensation plans were exercised resulting in the issuance of common shares that would participate in the earnings of the entity.


(Dollars in millions, except per share amounts)	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Earnings Per Common Share:
Numerator
Net income (loss)	$	233	$	255	$	1,445	$	1,145
Less: dividends declared - common shares and unvested common shares	(75)		(84)		(233)		(253)
Undistributed earnings	157		172		1,212		892
Percentage allocated to common shareholders (1)	98.7%		98.8%		98.7%		98.8%
	155		169		1,196		882
Add: dividends declared - common shareholders	74		83		230		250
Numerator for basic and diluted earnings per common share	$	230	$	252	$	1,427	$	1,132

Denominator
Denominator for basic earnings per weighted-average common shares	37.6		41.4		38.7		41.8
Effect of dilutive securities:
Employee Stock Purchase Plan offering	—		—		—		—
Denominator for diluted earnings per adjusted weighted-average common shares	37.6		41.4		38.7		41.8

Per common share net income (loss)
Basic	$	6.12	$	6.09	$	36.85	$	27.06
Diluted	$	6.12	$	6.09	$	36.85	$	27.06

(1) Basic weighted - average common shares outstanding	37.6		41.4		38.7		41.8
Basic weighted - average common shares outstanding and unvested
common shares expected to vest	38.1		41.9		39.2		42.3
Percentage allocated to common shareholders	98.7%		98.8%		98.7%		98.8%