EPS Calculation (Tables)

12 Months Ended

Dec. 31, 2011

EPS Calculation

Schedule of reconciliation of the earnings and shares used in calculating basic and diluted EPS

	For the Year Ended December 31,
(In Thousands, Except Per Share Amounts)	2011			2010			2009
Numerator:
Net income	$	316,414		$	269,762		$	268,189
Dividends declared on preferred stock	(8,160		)	(8,160		)	(8,160		)
Dividends, DERs and undistributed earnings allocated to participating securities (1)	(1,684		)	(972		)	(877		)
Net income allocable to common stockholders - basic and diluted	$	306,570		$	260,630		$	259,152
Denominator:
Weighted average common shares for basic earnings per share	341,368			281,173			246,365
Add: Weighted average dilutive equity instruments(2)	259			70			59
Denominator for diluted earnings per share	341,627			281,243			246,424
Basic and diluted EPS	$	0.90		$	0.93		$	1.06

(1) There were no undistributed earnings to allocate to participating securities for the year ended December 31, 2011, as the Company declared its common stock dividend for the quarters ended March 31, 2011, June 30, 2011, September 30, 2011 and December 31, 2011 during such respective quarters.

(2) At December 31, 2011, the Company had an aggregate of 657,000 equity instruments outstanding that were not included in the calculation of diluted EPS for the year ended December 31, 2011, as their inclusion would have been anti-dilutive.  These equity instruments were comprised of 477,000 stock options with a weighted average exercise price of $10.15 and a weighted average remaining contractual life of 1.8 years, approximately 165,000 shares of restricted common stock with a weighted average grant date fair value of $8.18 and 15,000 RSUs with a weighted average grant date fair value of $5.63.  These equity instruments may have a dilutive impact on future EPS.