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Earnings per common share (Tables)
3 Months Ended
Mar. 31, 2022
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

 

 

 

2022

 

 

2021

 

 

 

(In thousands, except per share)

 

 

 

 

 

 

 

 

 

 

Income available to common shareholders:

 

 

 

 

 

 

 

 

Net income

 

$

362,174

 

 

$

447,249

 

Less: Preferred stock dividends

 

 

(21,765

)

 

 

(17,050

)

Net income available to common equity

 

 

340,409

 

 

 

430,199

 

Less: Income attributable to unvested stock-based

   compensation awards

 

 

(820

)

 

 

(2,108

)

Net income available to common shareholders

 

$

339,589

 

 

$

428,091

 

Weighted-average shares outstanding:

 

 

 

 

 

 

 

 

Common shares outstanding (including common stock

   issuable) and unvested stock-based compensation

   awards

 

 

129,274

 

 

 

129,414

 

Less: Unvested stock-based compensation awards

 

 

(329

)

 

 

(877

)

Weighted-average shares outstanding

 

 

128,945

 

 

 

128,537

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

2.63

 

 

$

3.33

 

 

 

Computations of Diluted Earnings Per Common Share

The computations of diluted earnings per common share follow:

 

 

Three Months Ended March 31

 

 

 

2022

 

 

2021

 

 

 

(In thousands, except per share)

 

 

 

 

 

 

 

 

 

 

Net income available to common equity

 

$

340,409

 

 

$

430,199

 

Less: Income attributable to unvested stock-based

   compensation awards

 

 

(819

)

 

 

(2,106

)

Net income available to common shareholders

 

$

339,590

 

 

$

428,093

 

Adjusted weighted-average shares outstanding:

 

 

 

 

 

 

 

 

Common and unvested stock-based compensation

   awards

 

 

129,274

 

 

 

129,414

 

Less: Unvested stock-based compensation awards

 

 

(329

)

 

 

(877

)

Plus: Incremental shares from assumed conversion of

   stock-based compensation awards and warrants to

   purchase common stock

 

 

471

 

 

 

132

 

Adjusted weighted-average shares outstanding

 

 

129,416

 

 

 

128,669

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

2.62

 

 

$

3.33