Earnings per common share (Tables)

12 Months Ended

Dec. 31, 2015

The computations of basic earnings per common share follow:


	Year Ended December 31
	2015			2014			2013
	(In thousands, except per share)
Income available to common shareholders:
Net income	$	1,079,667		$	1,066,246		$	1,138,480
Less: Preferred stock dividends(a)		(81,270	)		(75,878	)		(54,120	)
Amortization of preferred stock discount(a)		—			—			(7,942	)

Net income available to common equity		998,397			990,368			1,076,418
Less: Income attributable to unvested stock-based compensation awards		(10,708	)		(11,837	)		(13,989	)

Net income available to common shareholders	$	987,689		$	978,531		$	1,062,429
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		138,285			132,532			130,354
Less: Unvested stock-based compensation awards		(1,482	)		(1,582	)		(1,700	)

Weighted-average shares outstanding		136,803			130,950			128,654
Basic earnings per common share	$	7.22		$	7.47		$	8.26

(a)

Including impact of not as yet declared cumulative dividends.

The computations of diluted earnings per common share follow:


	Year Ended December 31
	2015			2014			2013
	(In thousands, except per share)
Net income available to common equity	$	998,397		$	990,368		$	1,076,418
Less: Income attributable to unvested stock-based compensation awards		(10,673	)		(11,787	)		(13,922	)

Net income available to common shareholders	$	987,724		$	978,581		$	1,062,496
Adjusted weighted-average shares outstanding:
Common and unvested stock-based compensation awards		138,285			132,532			130,354
Less: Unvested stock-based compensation awards		(1,482	)		(1,582	)		(1,700	)
Plus: Incremental shares from assumed conversion of stock-based compensation awards and warrants to purchase common stock		730			894			949

Adjusted weighted-average shares outstanding		137,533			131,844			129,603
Diluted earnings per common share	$	7.18		$	7.42		$	8.20