Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2013

Earnings Per 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
	2013			2012			2013			2012
	(in thousands, except per share)
Income available to common shareholders:
Net income	$	294,479			293,462		$	917,058			733,305
Less: Preferred stock dividends (a)		(13,363	)		(13,363	)		(40,088	)		(40,088	)
Amortization of preferred stock discount (a)		(2,235	)		(2,033	)		(6,575	)		(5,921	)
Net income available to common equity		278,881			278,066			870,395			687,296
Less: Income attributable to unvested stock-based compensation awards		(3,545	)		(4,181	)		(11,451	)		(10,475	)
Net income available to common shareholders	$	275,336			273,885		$	858,944			676,821
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		130,836			127,741			130,088			127,449
Less: Unvested stock-based compensation awards		(1,665	)		(1,923	)		(1,719	)		(1,939	)
Weighted-average shares outstanding		129,171			125,818			128,369			125,510
Basic earnings per common share	$	2.13			2.18		$	6.69			5.39

(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
	2013			2012			2013			2012
	(in thousands, except per share)
Net income available to common equity	$	278,881			278,066		$	870,395			687,296
Less: Income attributable to unvested stock-based compensation awards		(3,525	)		(4,170	)		(11,395	)		(10,454	)
Net income available to common shareholders	$	275,356			273,896		$	859,000			676,842
Adjusted weighted-average shares outstanding:
Common and unvested stock-based compensation awards		130,836			127,741			130,088			127,449
Less: Unvested stock-based compensation awards		(1,665	)		(1,923	)		(1,719	)		(1,939	)
Plus: Incremental shares from assumed conversion of stock-based compensation awards and warrants to purchase common stock		1,094			474			943			426
Adjusted weighted-average shares outstanding		130,265			126,292			129,312			125,936
Diluted earnings per common share	$	2.11			2.17		$	6.64			5.37