| Basic and diluted earnings loss per share |
The calculation of basic and diluted earnings per share for the three and six-month periods ended June 30, 2017 and 2016, was as follows:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
(dollar amounts in thousands, except per share amounts) |
2017 |
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2016 |
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2017 |
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2016 |
Basic earnings per common share: |
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Net income |
$ |
271,741 |
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$ |
174,540 |
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$ |
479,835 |
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$ |
345,854 |
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Preferred stock dividends |
(18,889 |
) |
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(19,874 |
) |
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(37,767 |
) |
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(27,872 |
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Net income available to common shareholders |
$ |
252,852 |
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$ |
154,666 |
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$ |
442,068 |
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$ |
317,982 |
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Average common shares issued and outstanding |
1,088,934 |
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|
798,167 |
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1,087,654 |
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|
796,961 |
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Basic earnings per common share |
$ |
0.23 |
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$ |
0.19 |
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$ |
0.41 |
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$ |
0.40 |
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Diluted earnings per common share: |
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Net income available to common shareholders |
$ |
252,852 |
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$ |
154,666 |
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$ |
442,068 |
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$ |
317,982 |
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Effect of assumed preferred stock conversion |
— |
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— |
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— |
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— |
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Net income applicable to diluted earnings per share |
$ |
252,852 |
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$ |
154,666 |
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$ |
442,068 |
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$ |
317,982 |
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Average common shares issued and outstanding |
1,088,934 |
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798,167 |
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1,087,654 |
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|
796,961 |
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Dilutive potential common shares: |
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Stock options and restricted stock units and awards |
16,329 |
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9,785 |
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17,734 |
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10,085 |
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Shares held in deferred compensation plans |
3,108 |
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2,282 |
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3,030 |
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2,178 |
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Other |
156 |
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137 |
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154 |
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136 |
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Dilutive potential common shares: |
19,593 |
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12,204 |
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20,918 |
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12,399 |
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Total diluted average common shares issued and outstanding |
1,108,527 |
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810,371 |
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1,108,572 |
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809,360 |
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Diluted earnings per common share |
$ |
0.23 |
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$ |
0.19 |
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$ |
0.40 |
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$ |
0.39 |
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