Earnings per Common Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings per Common Share

Earnings per Common Share

The following table presents the calculation of basic and diluted earnings per common share.

	Three months ended March 31,
($ in millions, except per share data; shares in thousands) (a)	2024		2023
Net income from continuing operations	$	157	$	320
Preferred stock dividends — Series B	(16)		(16)
Preferred stock dividends — Series C	(12)		(12)
Net income from continuing operations attributable to common stockholders	$	129	$	292
Loss from discontinued operations, net of tax	—		(1)
Net income attributable to common stockholders	$	129	$	291
Basic weighted-average common shares outstanding (b)	306,003		302,657
Diluted weighted-average common shares outstanding (b)	308,421		303,448
Basic earnings per common share
Net income from continuing operations	$	0.42	$	0.97
Net income	$	0.42	$	0.96
Diluted earnings per common share
Net income from continuing operations	$	0.42	$	0.96
Net income	$	0.42	$	0.96

(a)Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.

(b)Includes shares related to share-based compensation that vested but were not yet issued.