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Earnings per common share (Tables)
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Computations of Basic Earnings Per Common Share

The computations of basic earnings per common share follow:

 

 

Year Ended December 31

 

 

 

2020

 

 

2019

 

 

2018

 

 

 

(In thousands, except per share)

 

Income available to common shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

1,353,152

 

 

$

1,929,149

 

 

$

1,918,080

 

Less: Preferred stock dividends(a)

 

 

(68,228

)

 

 

(69,441

)

 

 

(72,521

)

Net income available to common equity

 

 

1,284,924

 

 

 

1,859,708

 

 

 

1,845,559

 

Less: Income attributable to unvested stock-based

   compensation awards

 

 

(5,858

)

 

 

(10,199

)

 

 

(9,531

)

Net income available to common shareholders

 

$

1,279,066

 

 

$

1,849,509

 

 

$

1,836,028

 

Weighted-average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Common shares outstanding (including common stock

   issuable) and unvested stock-based compensation awards

 

 

129,404

 

 

 

135,169

 

 

 

144,740

 

Less: Unvested stock-based compensation awards

 

 

(766

)

 

 

(741

)

 

 

(748

)

Weighted-average shares outstanding

 

 

128,638

 

 

 

134,428

 

 

 

143,992

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

9.94

 

 

$

13.76

 

 

$

12.75

 

 

(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:

 

 

Year Ended December 31

 

 

 

2020

 

 

2019

 

 

2018

 

 

 

(In thousands, except per share)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to common equity

 

$

1,284,924

 

 

$

1,859,708

 

 

$

1,845,559

 

Less: Income attributable to unvested stock-based

   compensation awards

 

 

(5,856

)

 

 

(10,197

)

 

 

(9,524

)

Net income available to common shareholders

 

$

1,279,068

 

 

$

1,849,511

 

 

$

1,836,035

 

Adjusted weighted-average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Common and unvested stock-based compensation awards

 

 

129,404

 

 

 

135,169

 

 

 

144,740

 

Less: Unvested stock-based compensation awards

 

 

(766

)

 

 

(741

)

 

 

(748

)

Plus: Incremental shares from assumed conversion of

   stock-based compensation awards and warrants to

   purchase common stock

 

 

66

 

 

 

34

 

 

 

159

 

Adjusted weighted-average shares outstanding

 

 

128,704

 

 

 

134,462

 

 

 

144,151

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

9.94

 

 

$

13.75

 

 

$

12.74