Earnings per common share (Tables)

9 Months Ended

Sep. 30, 2015

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
	2015			2014			2015			2014
	(in thousands, except per share)
Income available to common shareholders:
Net income	$	280,401			275,344		$	808,702			788,697
Less: Preferred stock dividends (a)		(20,318	)		(20,443	)		(60,953	)		(55,560	)
Net income available to common equity		260,083			254,901			747,749			733,137
Less: Income attributable to unvested stock-based compensation awards		(2,746	)		(2,996	)		(8,122	)		(8,830	)
Net income available to common shareholders	$	257,337			251,905		$	739,627			724,307
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		134,049			132,832			133,805			132,372
Less: Unvested stock-based compensation awards		(1,419	)		(1,567	)		(1,458	)		(1,590	)
Weighted-average shares outstanding		132,630			131,265			132,347			130,782
Basic earnings per common share	$	1.94			1.92		$	5.59			5.54

(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
	2015			2014			2015			2014
	(in thousands, except per share)
Net income available to common equity	$	260,083			254,901		$	747,749			733,137
Less: Income attributable to unvested stock-based compensation awards		(2,737	)		(2,984	)		(8,093	)		(8,793	)
Net income available to common shareholders	$	257,346			251,917		$	739,656			724,344
Adjusted weighted-average shares outstanding:
Common and unvested stock-based compensation awards		134,049			132,832			133,805			132,372
Less: Unvested stock-based compensation awards		(1,419	)		(1,567	)		(1,458	)		(1,590	)
Plus: Incremental shares from assumed conversion of stock-based compensation awards and warrants to purchase common stock		746			863			742			916
Adjusted weighted-average shares outstanding		133,376			132,128			133,089			131,698
Diluted earnings per common share	$	1.93			1.91		$	5.56			5.50