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STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE (Tables)
12 Months Ended
Dec. 31, 2011
STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE  
Earnings per share calculations

 

 

 
  Net Income
Available to Common Stockholders
  Number of Shares   Per Share Amounts  
 
  (In thousands, except per share data)
 

2011

                   

Net income

  $ 245,234     147,093        

Less:

                   

Preferred stock dividends and amortization of preferred stock discount

    (6,857 )            
                 

Basic EPS—income available to common stockholders

  $ 238,377     147,093   $ 1.62  

Effect of dilutive securities:

                   

Stock options

        62        

Restricted stock

    115     718        

Convertible preferred stock

    6,857     5,571        

Stock warrants

        23        
                 

Diluted EPS—income available to common stockholders

  $ 245,349     153,467   $ 1.60  

2010

                   

Net income

  $ 164,564     137,478        

Less:

                   

Preferred stock dividends and amortization of preferred stock discount

    (43,126 )          
                 

Basic EPS—income available to common stockholders

  $ 121,438     137,478   $ 0.88  

Effect of dilutive securities:

                   

Stock options

        142        

Restricted stock

    15     370        

Convertible preferred stock

        8,936        

Stock warrants

        176        
                 

Diluted EPS—income available to common stockholders

  $ 121,453     147,102   $ 0.83  
                 

2009

                   

Net income before extraordinary item

  $ 82,008     78,770        

Less:

                   

Preferred stock dividends, amortization of preferred stock discount and inducement of preferred stock conversion

    (49,115 )          
                 

Income available to common stockholders before extraordinary item

    32,893     78,770   $ 0.42  

Extraordinary item—impact of descuritization

    (5,366 )   78,770     (0.07 )
                 

Basic EPS—income available to common stockholders after extraordinary item

    27,527     78,770   $ 0.35  

Effect of dilutive securities:

                   

Stock options

        15        

Restricted stock

        51        

Convertible preferred stock

        5,687        

Stock warrants

               
                 

Income available to common stockholders before extraordinary item

  $ 32,893     84,523   $ 0.39  

Income impact of assumed conversions

    2            

Extraordinary item—impact of descuritization

    (5,366 )   84,523   $ (0.06 )
                 

Diluted EPS—income available to common stockholders after extraordinary item plus assumed conversions

  $ 27,529     84,523   $ 0.33  
                 
Shares excluded from the calculation of diluted EPS

 

 

 
  For the Year Ended  
 
  2011   2010   2009  
 
  (In thousands)
 

Convertible preferred stock

        5,573     9,293  

Stock options

    857     1,043     1,848  

Restricted stock

    317     326     463