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Earnings per common share (Tables)
3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Computations of Basic Earnings Per Common Share

The computations of basic earnings per common share follow:

 

 

 

Three Months Ended March 31

 

 

 

2018

 

 

2017

 

 

 

(In thousands, except per share)

 

Income available to common shareholders:

 

 

 

 

 

 

 

 

Net income

 

$

352,610

 

 

 

348,927

 

Less: Preferred stock dividends (a)

 

 

(18,130

)

 

 

(18,237

)

Net income available to common equity

 

 

334,480

 

 

 

330,690

 

Less: Income attributable to unvested stock-based

   compensation awards

 

 

(1,732

)

 

 

(2,128

)

Net income available to common shareholders

 

$

332,748

 

 

 

328,562

 

Weighted-average shares outstanding:

 

 

 

 

 

 

 

 

Common shares outstanding (including common stock

   issuable) and unvested stock-based compensation awards

 

 

149,470

 

 

 

155,463

 

Less: Unvested stock-based compensation awards

 

 

(782

)

 

 

(1,036

)

Weighted-average shares outstanding

 

 

148,688

 

 

 

154,427

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

2.24

 

 

 

2.13

 

 

 (a)Including impact of not as yet declared cumulative dividends.

Computations of Diluted Earnings Per Common Share

7. Earnings per common share, continued

The computations of diluted earnings per common share follow:

 

 

 

Three Months Ended March 31

 

 

 

2018

 

 

2017

 

 

 

(In thousands, except per share)

 

 

 

 

 

 

 

 

 

 

Net income available to common equity

 

$

334,480

 

 

 

330,690

 

Less: Income attributable to unvested stock-based

   compensation awards

 

 

(1,731

)

 

 

(2,123

)

Net income available to common shareholders

 

$

332,749

 

 

 

328,567

 

Adjusted weighted-average shares outstanding:

 

 

 

 

 

 

 

 

Common and unvested stock-based compensation awards

 

 

149,470

 

 

 

155,463

 

Less: Unvested stock-based compensation awards

 

 

(782

)

 

 

(1,036

)

Plus: Incremental shares from assumed conversion of

   stock-based compensation awards and warrants to

   purchase common stock

 

 

217

 

 

 

522

 

Adjusted weighted-average shares outstanding

 

 

148,905

 

 

 

154,949

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

2.23

 

 

 

2.12