| Basic and diluted earnings loss per share |
The calculation of basic and diluted earnings per share for each of the three-month periods ended March 31, 2012 and 2011, was as follows:
| |
|
|
Three Months Ended |
| |
|
|
|
March 31, |
| (dollar amounts in thousands, except per share amounts) |
|
|
2012 |
|
|
2011 |
| |
|
|
|
|
|
|
|
| Basic earnings per common share: |
|
|
|
|
|
|
| Net income |
|
$ |
153,270 |
|
$ |
126,446 |
| Preferred stock dividends |
|
|
(8,049) |
|
|
(7,703) |
| |
Net income available to common shareholders |
|
$ |
145,221 |
|
$ |
118,743 |
| Average common shares issued and outstanding |
|
|
864,499 |
|
|
863,359 |
| Basic earnings per common share |
|
$ |
0.17 |
|
$ |
0.14 |
| |
|
|
|
|
|
|
|
| Diluted earnings per common share |
|
|
|
|
|
|
| Net income available to common shareholders |
|
$ |
145,221 |
|
$ |
118,743 |
| Effect of assumed preferred stock conversion |
|
|
--- |
|
|
--- |
| |
Net income applicable to diluted earnings per share |
|
$ |
145,221 |
|
$ |
118,743 |
| Average common shares issued and outstanding |
|
|
864,499 |
|
|
863,359 |
| Dilutive potential common shares: |
|
|
|
|
|
|
| |
Stock options and restricted stock units and awards |
|
|
3,463 |
|
|
2,996 |
| |
Shares held in deferred compensation plans |
|
|
1,202 |
|
|
882 |
| |
Conversion of preferred stock |
|
|
--- |
|
|
--- |
| Dilutive potential common shares: |
|
|
4,665 |
|
|
3,878 |
| |
Total diluted average common shares issued and outstanding |
|
|
869,164 |
|
|
867,237 |
| Diluted earnings per common share |
|
$ |
0.17 |
|
$ |
0.14 |
|