| Basic and diluted earnings loss per share |
The calculation of basic and diluted earnings per share for three and six-month periods ended June 30, 2016 and 2015, 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) |
2016 |
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2015 |
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2016 |
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2015 |
Basic earnings per common share: |
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Net income |
$ |
174,540 |
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$ |
196,206 |
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$ |
345,854 |
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$ |
362,060 |
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Preferred stock dividends |
(19,874 |
) |
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(7,968 |
) |
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(27,872 |
) |
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(15,933 |
) |
Net income available to common shareholders |
$ |
154,666 |
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$ |
188,238 |
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$ |
317,982 |
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$ |
346,127 |
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Average common shares issued and outstanding |
798,167 |
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806,891 |
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796,961 |
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808,335 |
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Basic earnings per common share |
$ |
0.19 |
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$ |
0.23 |
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$ |
0.40 |
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$ |
0.43 |
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Diluted earnings per common share: |
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Net income available to common shareholders |
$ |
154,666 |
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$ |
188,238 |
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$ |
317,982 |
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$ |
346,127 |
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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 |
$ |
154,666 |
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$ |
188,238 |
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$ |
317,982 |
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$ |
346,127 |
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Average common shares issued and outstanding |
798,167 |
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806,891 |
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796,961 |
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808,335 |
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Dilutive potential common shares: |
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Stock options and restricted stock units and awards |
9,785 |
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11,250 |
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10,085 |
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11,688 |
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Shares held in deferred compensation plans |
2,282 |
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1,912 |
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2,178 |
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1,809 |
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Other |
137 |
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185 |
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136 |
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191 |
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Dilutive potential common shares: |
12,204 |
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13,347 |
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12,399 |
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13,688 |
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Total diluted average common shares issued and outstanding |
810,371 |
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820,238 |
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809,360 |
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822,023 |
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Diluted earnings per common share |
$ |
0.19 |
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$ |
0.23 |
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$ |
0.39 |
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$ |
0.42 |
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