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STOCKHOLDERS' EQUITY (Tables)
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Schedule of preferred stock
The following table summarizes the Company’s preferred stock:
September 30, 2023December 31, 2022
(dollars in millions, except per share data)Liquidation value per sharePreferred SharesCarrying AmountPreferred SharesCarrying Amount
Authorized ($25 par value per share)
100,000,000 100,000,000 
Issued and outstanding:
Series B$1,000 300,000 $296 300,000 $296 
Series C1,000 300,000 297 300,000 297 
Series D1,000 
(1)
300,000 
(2)
293 300,000 293 
Series E1,000 
(1)
450,000 
(3)
437 450,000 437 
Series F1,000 400,000 395 400,000 395 
Series G1,000 300,000 296 300,000 296 
Total2,050,000 $2,014 2,050,000 $2,014 
(1) Equivalent to $25 per depositary share.
(2) Represented by 12,000,000 depositary shares each representing a 1/40th interest in the Series D Preferred Stock.
(3) Represented by 18,000,000 depositary shares each representing a 1/40th interest in the Series E Preferred Stock.
Schedule of dividends
The following tables summarize the Company’s dividend activity for the three and nine months ended September 30, 2023 and 2022.
Three Months Ended September 30, 2023Three Months Ended September 30, 2022
(dollars in millions, except per share data)Dividends Declared per ShareDividends DeclaredDividends PaidDividends Declared per ShareDividends DeclaredDividends Paid
Common stock$0.42 $199 $199 $0.42 $209 $209 
Preferred stock
Series B$21.81 $7 $9 $— $— $9 
Series C15.93 4 4 15.93 5 5 
Series D15.88 4 4 15.88 5 5 
Series E12.50 6 6 12.50 6 6 
Series F14.13 6 6 14.13 6 6 
Series G10.00 3 3 10.00 3 3 
Total preferred stock$30 $32 $25 $34 
Nine Months Ended September 30, 2023Nine Months Ended September 30, 2022
(dollars in millions, except per share data)Dividends Declared per ShareDividends DeclaredDividends PaidDividends Declared per ShareDividends DeclaredDividends Paid
Common stock$1.26 $609 $609 $1.20 $569 $569 
Preferred stock
Series B$51.81 $16 $18 $30.00 $9 $18 
Series C47.81 14 14 47.81 15 15 
Series D47.63 14 14 47.63 14 14 
Series E37.50 17 17 37.50 17 17 
Series F42.38 17 17 42.38 17 17 
Series G30.00 9 9 30.00 9 9 
Total preferred stock$87 $89 $81 $90