| Basic and diluted earnings loss per share |
The calculation of basic and diluted earnings per share for the three and nine-month periods ended September 30, 2016 and 2015, was as follows:
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Three Months Ended
September 30, |
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Nine Months Ended
September 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 |
$ |
127,004 |
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$ |
152,588 |
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$ |
472,858 |
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$ |
514,648 |
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Preferred stock dividends |
(18,537 |
) |
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(7,968 |
) |
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(46,409 |
) |
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(23,901 |
) |
Net income available to common shareholders |
$ |
108,467 |
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$ |
144,620 |
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$ |
426,449 |
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$ |
490,747 |
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Average common shares issued and outstanding |
938,578 |
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|
800,883 |
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|
844,167 |
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805,851 |
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Basic earnings per common share |
$ |
0.12 |
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$ |
0.18 |
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$ |
0.51 |
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$ |
0.61 |
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Diluted earnings per common share: |
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Net income available to common shareholders |
$ |
108,467 |
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$ |
144,620 |
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$ |
426,449 |
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$ |
490,747 |
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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 |
$ |
108,467 |
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$ |
144,620 |
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$ |
426,449 |
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$ |
490,747 |
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Average common shares issued and outstanding |
938,578 |
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800,883 |
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844,167 |
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805,851 |
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Dilutive potential common shares: |
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Stock options and restricted stock units and awards |
10,714 |
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11,285 |
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10,295 |
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11,554 |
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Shares held in deferred compensation plans |
2,654 |
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1,997 |
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2,337 |
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1,872 |
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Other |
135 |
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161 |
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135 |
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|
181 |
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Dilutive potential common shares: |
13,503 |
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13,443 |
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12,767 |
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13,607 |
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Total diluted average common shares issued and outstanding |
952,081 |
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814,326 |
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856,934 |
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819,458 |
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Diluted earnings per common share |
$ |
0.11 |
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$ |
0.18 |
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$ |
0.50 |
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$ |
0.60 |
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