Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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)	2025		2024
Net (loss) income from continuing operations	$	(225)	$	143
Preferred stock dividends — Series B	(16)		(16)
Preferred stock dividends — Series C	(12)		(12)
Net (loss) income from continuing operations attributable to common shareholders	$	(253)	$	115
Net (loss) income attributable to common shareholders	$	(253)	$	115
Basic weighted-average common shares outstanding (b)	309,006		306,003
Diluted weighted-average common shares outstanding (b) (c)	309,006		308,421
Basic earnings per common share
Net (loss) income from continuing operations	$	(0.82)	$	0.38
Net (loss) income	$	(0.82)	$	0.38
Diluted earnings per common share
Net (loss) income from continuing operations	$	(0.82)	$	0.37
Net (loss) income	$	(0.82)	$	0.37

(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.

(c)Due to the antidilutive effect of the net loss from continuing operations for the three months ended March 31, 2025, basic weighted-average common shares outstanding was used to calculate basic and diluted earnings per share. During the three months ended March 31, 2025, there were 2.7 million in share-based awards excluded because their inclusion would have been antidilutive.