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Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Common Stock Outstanding Roll Forward

The following table presents the rollforward of common shares used in calculating the weighted average shares utilized in the basic earnings per common share calculation for the periods indicated:


	Common Shares

(shares in millions)	Issued		Held in Treasury	Outstanding
Balance, January 1, 2021	143.3		19.1	124.2
Common shares issued	0.1		—	0.1
Common shares acquired - share repurchase	—		17.9	(17.9)
Share-based compensation	2.4		1.0	1.4
Treasury Stock retirement	(36.8)		(36.8)	—
Balance, December 31, 2021	109.0		1.2	107.8
Common shares issued	—	*	—	—
Common shares acquired - share repurchase	—		11.7	(11.7)
Share-based compensation	1.7		0.6	1.1
Balance, September 30, 2022	110.7		13.5	97.2

*less than 0.1

Schedule of Dividends Declared

Dividends declared per share of Common Stock were as follows for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Dividends declared per share of Common Stock	$	0.20	$	0.165	$	0.60	$	0.495

The declaration of dividends on preferred stock per share and in the aggregate were as follows for the periods indicated:


	Series A				Series B
Three Months Ended September 30,	Per Share		Aggregate		Per Share		Aggregate
2022	$	30.625	$	10	$	13.375	$	4
2021	30.625		10		13.375		4
Nine Months Ended September 30,
2022	$	61.250	$	20	$	40.125	$	12
2021	61.250		20		40.125		12

Schedule of Share Repurchase Agreements

The following table presents repurchases of the Company's common stock through share repurchase agreements with third-party financial institutions during the nine months ended September 30, 2022.


2022
Execution Date	Payment		Initial Shares Delivered	Closing Date	Additional Shares Delivered	Total Shares Repurchased
June 21, 2022	$	250	3,382,950	September 20, 2022	819,566	4,202,516
March 17, 2022	$	275	3,305,786	May 11, 2022	890,112	4,195,898

Schedule of Preferred Stock Issued and Outstanding

As of September 30, 2022 and December 31, 2021, there were 100,000,000 shares of preferred stock authorized. Preferred stock issued and outstanding are as follows:


	September 30, 2022		December 31, 2021
Series	Issued	Outstanding	Issued	Outstanding
6.125% Non-cumulative Preferred Stock, Series A	325,000	325,000	325,000	325,000
5.35% Non-cumulative Preferred Stock, Series B	300,000	300,000	300,000	300,000
Total	625,000	625,000	625,000	625,000

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details