Earnings per common share (Tables)

9 Months Ended

Sep. 30, 2012

Computations of Basic Earnings Per Common Share

The computations of basic earnings per common share follow:

	Three months ended						Nine months ended
	September 30						September 30
	2012			2011			2012			2011
	(in thousands, except per share)
Income available to common shareholders:
Net income	$	293,462			183,108		$	733,305			711,739
Less: Preferred stock dividends (a)		(13,363	)		(14,079	)		(40,088	)		(31,761	)
Amortization of preferred stock discount (a)		(2,033	)		(1,848	)		(5,921	)		(18,132	)
Net income available to common equity		278,066			167,181			687,296			661,846
Less: Income attributable to unvested stock-based compensation awards		(4,181	)		(2,513	)		(10,475	)		(9,905	)
Net income available to common shareholders	$	273,885			164,668			676,821			651,941
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		127,741			126,478			127,449			123,855
Less: Unvested stock-based compensation awards		(1,922	)		(1,903	)		(1,939	)		(1,850	)
Weighted-average shares outstanding		125,819			124,575			125,510			122,005
Basic earnings per common share	$	2.18			1.32		$	5.39			5.34

(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						Nine months ended
	September 30						September 30
	2012			2011			2012			2011
	(in thousands, except per share)
Net income available to common equity	$	278,066			167,181		$	687,296			661,846
Less: Income attributable to unvested stock-based compensation awards		(4,170	)		(2,510	)		(10,454	)		(9,880	)
Net income available to common shareholders	$	273,896			164,671			676,842			651,966
Adjusted weighted-average shares outstanding:
Common and unvested stock-based compensation awards		127,741			126,478			127,449			123,855
Less: Unvested stock-based compensation awards		(1,923	)		(1,903	)		(1,939	)		(1,850	)
Plus: Incremental shares from assumed conversion of stock-based compensation awards and convertible preferred stock		474			285			426			516
Adjusted weighted-average shares outstanding		126,292			124,860			125,936			122,521
Diluted earnings per common share	$	2.17			1.32		$	5.37			5.32