Earnings per common share (Tables)

9 Months Ended

Sep. 30, 2011

Earnings per common share [Abstract]

Computations of basic earnings per common share

The computations of basic earnings per common share follow:

	Three months ended September 30						Nine months ended September 30
	2011			2010			2011			2010
	(in thousands, except per share)
Income available to common shareholders:
Net income	$	183,108			192,015			711,739			531,719
Less: Preferred stock dividends (a)		(14,079	)		(10,056	)		(31,761	)		(30,169	)
Amortization of preferred stock discount (a)		(1,848	)		(2,653	)		(18,132	)		(7,815	)
Net income available to common equity		167,181			179,306			661,846			493,735
Less: Income attributable to unvested stock-based compensation           awards		(2,513	)		(2,526	)		(9,905	)		(6,924	)
Net income available to common shareholders	$	164,668			176,780			651,941			486,811
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		126,478			120,010			123,855			119,705
Less: Unvested stock-based compensation awards		(1,903	)		(1,690	)		(1,850	)		(1,657	)
Weighted-average shares outstanding		124,575			118,320			122,005			118,048
Basic earnings per common share	$	1.32			1.49			5.34			4.12

(a) Including impact of not as yet declared cumulative dividends.

Computations of diluted earnings per common share

The computations of diluted earnings per common share follow:

	Three months ended September 30						Nine months ended September 30
	2011			2010			2011			2010
	(in thousands, except per share)
Net income available to common equity	$	167,181			179,306			661,846			493,735
Less: Income attributable to unvested stock-based compensation awards		(2,510	)		(2,517	)		(9,880	)		(6,904	)
Net income available to common shareholders	$	164,671			176,789			651,966			486,831
Adjusted weighted-average shares outstanding:
Common and unvested stock-based compensation awards		126,478			120,010			123,855			119,705
Less: Unvested stock-based compensation awards		(1,903	)		(1,690	)		(1,850	)		(1,657	)
Plus: Incremental shares from assumed conversion of stock-based compensation awards and convertible preferred stock		285			835			516			718
Adjusted weighted-average shares outstanding		124,860			119,155			122,521			118,766
Diluted earnings per common share	$	1.32			1.48			5.32			4.10