EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2022

The following table presents the calculation of basic and diluted earnings per common share from continuing operations:


	Years ended December 31,
(Dollars in millions, except per share amounts; share amounts in thousands)	2022		2021		2020
Earnings (loss) per share — Basic:
Earnings (loss) from continuing operations	$	863	$	522	$	(112)
Less: Distributed and undistributed earnings allocated to unvested stock	(5)		(2)		(1)
Earnings (loss) from continuing operations available to common shareholders	$	858	$	520	$	(113)

Weighted average common shares outstanding	49,549		52,338		52,362

Earnings (loss) from continuing operations per common share — Basic	$	17.32	$	9.92	$	(2.15)

Earnings (loss) per share — Diluted:
Earnings (loss) from continuing operations	$	863	$	522	$	(112)
Less: Distributed and undistributed earnings allocated to unvested stock	—		(2)		(1)
Earnings (loss) from continuing operations available to common shareholders — Diluted	$	863	$	520	$	(113)

Weighted average common shares outstanding — Basic	49,549		52,338		52,362
Effect of dilutive equity awards	1,337		1,170		—
Weighted average common shares outstanding — Diluted	50,887		53,508		52,362

Earnings (loss) from continuing operations per common share — Diluted	$	16.96	$	9.70	$	(2.15)

Anti-dilutive equity awards not included in diluted EPS	662		682		3,504

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Amounts in the table may not recalculate exactly due to rounding of earnings and shares.