Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

The details of the earnings per share calculations for the years ended December 31, 2024, 2023 and 2022 are as follows:

	Year Ended December 31
	2024		2023		2022
	(Dollars in millions except per share amounts)
Basic earnings per share:
Net Income	$	282	$	261	$	390
Less: preferred stock dividend	—		(80)		(157)
Less: preferred stock deemed dividends	—		(232)		—
Net income (loss) available for distribution	282		(51)		233
Less: earnings allocated to participating securities	—		—		(184)
Net income (loss) available to common shareholders	282		(51)		49
Weighted average common shares outstanding - Basic	222,316,484		166,595,397		64,708,635
EPS – Basic	$	1.27	$	(0.31)	$	0.75
Diluted earnings per share:
Method used:			Two-class		Two-class
Weighted average common shares outstanding - Basic	222,316,484		166,595,397		64,708,635
Dilutive effect of unvested RSUs and other contingently issuable shares	1,804,672		—		367,357
Weighted average common shares outstanding – Diluted	224,121,156		166,595,397		65,075,992
EPS – Diluted	$	1.26	$	(0.31)	$	0.75