| NET EARNINGS PER COMMON SHARE The following schedule presents the basic and diluted net earnings per common share, calculated using the weighted-average number of shares outstanding: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | (In millions, except shares and per share amounts) | 2026 | | 2025 | | 2026 | | 2025 | | Basic: | | | | | | | | | Net income | $ | 263 | | | $ | 222 | | | $ | 949 | | | $ | 636 | | | Less common and preferred dividends | 72 | | | 68 | | | 208 | | | 199 | | | | | | | | | | | Undistributed earnings | 191 | | | 154 | | | 741 | | | 437 | | | Less undistributed earnings applicable to nonvested shares | 3 | | | 2 | | | 10 | | | 5 | | | Undistributed earnings applicable to common shares | 188 | | | 152 | | | 731 | | | 432 | | | Distributed earnings applicable to common shares | 71 | | | 66 | | | 203 | | | 193 | | | Total earnings applicable to common shares | $ | 259 | | | $ | 218 | | | $ | 934 | | | $ | 625 | | | Weighted average common shares outstanding (in thousands) | 144,984 | | | 147,045 | | | 146,009 | | | 147,136 | | | Net earnings per common share | $ | 1.78 | | | $ | 1.48 | | | $ | 6.40 | | | $ | 4.25 | | | Diluted: | | | | | | | | | Total earnings applicable to common shares | $ | 259 | | | $ | 218 | | | $ | 934 | | | $ | 625 | | | Weighted average common shares outstanding (in thousands) | 144,984 | | | 147,045 | | | 146,009 | | | 147,136 | | | | | | | | | | | | | | | | | | | Dilutive effect of stock options (in thousands) | 104 | | | 80 | | | 95 | | | 39 | | | Weighted average diluted common shares outstanding (in thousands) | 145,088 | | | 147,125 | | | 146,104 | | | 147,175 | | | Net earnings per common share | $ | 1.78 | | | $ | 1.48 | | | $ | 6.39 | | | $ | 4.25 | |
The following schedule presents the weighted-average stock awards that were antidilutive and therefore excluded from the calculation of diluted earnings per share: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | (In thousands) | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | Restricted stock and restricted stock units | 1,952 | | | 1,837 | | | 1,958 | | | 1,795 | | | Stock options | 182 | | | 207 | | | 184 | | | 473 | |
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