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, 2015 and 2014:



	Three Months Ended June 30,						Six Months Ended June 30,
(In Thousands, Except Per Share Amounts)	2015			2014			2015			2014
Numerator:
Net income	$	78,071		$	78,726		$	160,244		$	154,914
Dividends declared on preferred stock	(3,750		)	(3,750		)	(7,500		)	(7,500		)
Dividends, dividend equivalents and undistributed earnings allocated to participating securities	(391		)	(287		)	(786		)	(561		)
Net income to common stockholders - basic and diluted	$	73,930		$	74,689		$	151,958		$	146,853

Denominator:
Weighted average common shares for basic and diluted earnings per share (1)	370,164			368,445			371,992			367,792
Basic and diluted earnings per share	$	0.20		$	0.20		$	0.41		$	0.40

(1)

At June 30, 2015, the Company had an aggregate of 2.1 million equity instruments outstanding that were not included in the calculation of diluted EPS for the three and six months ended June 30, 2015, as their inclusion would have been anti-dilutive. These equity instruments were comprised of approximately 203,000 shares of restricted common stock with a weighted average grant date fair value of $7.49 and approximately 1.9 million RSUs with a weighted average grant date fair value of $6.89. These equity instruments may have a dilutive impact on future EPS.