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EPS Calculation (Tables)
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Schedule of reconciliation of the earnings and shares used in calculating basic and diluted EPS
The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS for the three and nine months ended September 30, 2014 and 2013:
 
 
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
(In Thousands, Except Per Share Amounts)
 
2014
 
2013
 
2014
 
2013
Numerator:
 
 
 
 
 
 
 
 
Net income
 
$
78,882

 
$
71,328

 
$
233,796

 
$
224,152

Dividends declared on preferred stock
 
(3,750
)
 
(3,750
)
 
(11,250
)
 
(10,000
)
Dividends, DERs and undistributed earnings allocated to participating securities
 
(281
)
 
(230
)
 
(842
)
 
(880
)
Issuance costs of redeemed preferred stock (1)
 
—

 
—

 
—

 
(3,947
)
Net income to common stockholders - basic and diluted
 
$
74,851

 
$
67,348

 
$
221,704

 
$
209,325

 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
 
Weighted average common shares for basic and diluted earnings per share (2)
 
369,690

 
363,918

 
368,430

 
361,181

Basic and diluted earnings per share
 
$
0.20

 
$
0.19

 
$
0.60

 
$
0.58


(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 September 30, 2014, 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 nine months ended September 30, 2014, as their inclusion would have been anti-dilutive.  These equity instruments were comprised of approximately 358,000 shares of restricted common stock with a weighted average grant date fair value of $7.47 and approximately 1.2 million RSUs with a weighted average grant date fair value of $6.83.  These equity instruments may have a dilutive impact on future EPS.