EPS Calculation

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS for the three and six months ended June 30, 2013 and 2012:



	Three Months Ended June 30,						Six Months Ended June 30,
(In Thousands, Except Per Share Amounts)	2013			2012			2013			2012
Numerator:
Net income	$	75,473		$	74,766		$	152,824		$	159,479
Dividends declared on preferred stock	(4,210		)	(2,040		)	(6,250		)	(4,080		)
Dividends, DERs and undistributed earnings allocated to participating securities	(329		)	(395		)	(650		)	(811		)
Issuance costs of redeemed preferred stock (1)	(3,947		)	—			(3,947		)	—
Net income to common stockholders - basic and diluted	$	66,987		$	72,331		$	141,977		$	154,588

Denominator:
Weighted average common shares for basic and diluted earnings per share (2)	361,450			356,598			359,790			356,382
Basic and diluted earnings per share	$	0.19		$	0.20		$	0.39		$	0.43

(1) Issuance costs of redeemed preferred stock represent the original offering costs related to the Series A Preferred Stock, which was redeemed on May 16, 2013. (See Note 11)

(2) At June 30, 2013, the Company had an aggregate of 1.6 million equity instruments outstanding that were not included in the calculation of diluted EPS for the three and six months ended June 30, 2013, as their inclusion would have been anti-dilutive. These equity instruments were comprised of 407,000 stock options with a weighted average exercise price of $10.23 and a weighted average remaining contractual life of 0.3 years, approximately 411,000 shares of restricted common stock with a weighted average grant date fair value of $7.73 and approximately 768,000 RSUs with a weighted average grant date fair value of $6.58. These equity instruments may have a dilutive impact on future EPS.