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EPS Calculation (Tables)
 12 Months Ended
Dec. 31, 2018
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 years ended December 31, 2018, 2017 and 2016:
 
 
 
For the Year Ended December 31,
(In Thousands, Except Per Share Amounts)
 
2018
 
2017
 
2016
Numerator:
 
 

 
 

 
 

Net income
 
$
301,801

 
$
322,393

 
$
312,668

Dividends declared on preferred stock
 
(15,000
)
 
(15,000
)
 
(15,000
)
Dividends, dividend equivalents and undistributed earnings allocated to participating securities
 
(1,864
)
 
(1,708
)
 
(1,628
)
Net income to common stockholders - basic and diluted
 
$
284,937

 
$
305,685

 
$
296,040

 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
Weighted average common shares for basic and diluted earnings per share (1)
 
418,934

 
388,357

 
371,122

Basic and diluted earnings per share
 
$
0.68

 
$
0.79

 
$
0.80



(1) At December 31, 2018, the Company had approximately 2.1 million equity instruments outstanding that were not included in the calculation of diluted EPS for the year ended December 31, 2018, as their inclusion would have been anti-dilutive.  These equity instruments reflect RSUs (based on current estimate of expected share settlement amount) with a weighted average grant date fair value of $6.78.  These equity instruments may have a dilutive impact on future EPS.