Earnings per common share (Tables)

6 Months Ended

Jun. 30, 2012

Earnings per common share [Abstract]

Computations of basic earnings per common share

The computations of basic earnings per common share follow:

	Three months ended June 30						Six months ended June 30
	2012			2011			2012			2011
	(in thousands, except per share)
Income available to common shareholders:
Net income	$	233,380			322,358			439,843			528,631
Less: Preferred stock dividends (a)		(13,362	)		(7,184	)		(26,725	)		(17,682	)
Amortization of preferred stock discount (a)		(1,964	)		(13,531	)		(3,888	)		(16,284	)
Net income available to common equity		218,054			301,643			409,230			494,665
Less: Income attributable to unvested stock-based compensation awards		(3,345	)		(4,479	)		(6,283	)		(7,382	)
Net income available to common shareholders	$	214,709			297,164			402,947			487,283
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		127,445			124,035			127,301			122,522
Less: Unvested stock-based compensation awards		(1,957	)		(1,854	)		(1,947	)		(1,823	)
Weighted-average shares outstanding		125,488			122,181			125,354			120,699
Basic earnings per common share	$	1.71			2.43			3.21			4.04

(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 June 30						Six months ended June 30
	2012			2011			2012			2011
	(in thousands, except per share)
Net income available to common equity	$	218,054			301,643			409,230			494,665
Less: Income attributable to unvested stock-based compensation awards		(3,338	)		(4,464	)		(6,272	)		(7,357	)
Net income available to common shareholders	$	214,716			297,179			402,958			487,308
Adjusted weighted-average shares outstanding:
Common and unvested stock-based compensation awards		127,445			124,035			127,301			122,522
Less: Unvested stock-based compensation awards		(1,957	)		(1,854	)		(1,947	)		(1,823	)
Plus: Incremental shares from assumed conversion of stock-based compensation awards and convertible preferred stock		409			615			402			633
Adjusted weighted-average shares outstanding		125,897			122,796			125,756			121,332
Diluted earnings per common share	$	1.71			2.42			3.20			4.02