12. EPS Calculation

The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS for the three months ended March 31, 2013 and 2012:

	Three Months Ended March 31,
(In Thousands, Except Per Share Amounts)	2013			2012
Numerator:
Net income	$	77,351		$	84,713
Dividends declared on preferred stock	(2,040		)	(2,040		)
Dividends, DERs and undistributed earnings allocated to participating securities	(321		)	(416		)
Net income to common stockholders - basic and diluted	$	74,990		$	82,257

Denominator:
Weighted average common shares for basic and diluted earnings per share (1)	358,110			356,167
Basic and diluted earnings per share	$	0.21		$	0.23

(1) At March 31, 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 months ended March 31, 2013, as their inclusion would have been anti-dilutive. These equity instruments were comprised of 427,000 stock options with a weighted average exercise price of $10.14 and a weighted average remaining contractual life of 0.6 years, approximately 447,000 shares of restricted common stock with a weighted average grant date fair value of $7.73 and approximately 728,000 RSUs with a weighted average grant date fair value of $6.43. These equity instruments may have a dilutive impact on future EPS.