NET INCOME (LOSS) PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2014

Schedule of Earnings Per Share Reconciliation

The following table presents a reconciliation of net income and shares used in calculating basic and diluted earnings per share for the quarters and nine months ended September 30, 2014 and 2013.

	Quarter Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014			2013
	(dollars in thousands, except per share data)				(dollars in thousands, except per share data)
Net income (loss)	$	354,856	$	192,458	$	(184,007	)	$	2,700,949
Less: Preferred stock dividends		17,992		17,992		53,976			53,976
Net income (loss) available to common shareholders, prior to adjustment for dilutive potential common shares, if necessary		336,864		174,466		(237,983	)		2,646,973
Add:  Interest on Convertible Senior Notes, if dilutive		12,226		1,075		-			31,351
Net income (loss) available to common shareholders, as adjusted		349,090		175,541		(237,983	)		2,678,324
Weighted average shares of common stock outstanding-basic		947,565,432		947,303,205		947,513,514			947,321,691
Add:  Effect of stock awards and Convertible Senior Notes, if dilutive		39,750,095		8,387,266		-			47,997,979
Weighted average shares of common  stock outstanding-diluted		987,315,527		955,690,471		947,513,514			995,319,670
Net income (loss) per share available (related) to common share:
Basic	$	0.36	$	0.18	$	(0.25	)	$	2.79
Diluted	$	0.35	$	0.18	$	(0.25	)	$	2.69