Earnings Per Share

The following table provides reconciliations of net income to net income available to common shareholders and the difference between average basic common shares outstanding and average diluted common shares outstanding:



(Dollars and shares in thousands, except per share data)	2018		2017		2016
Net income/(loss)	$	556,507	$	176,980	$	238,511
Net income attributable to noncontrolling interest	11,465		11,465		11,465
Net income/(loss) attributable to controlling interest	545,042		165,515		227,046
Preferred stock dividends	6,200		6,200		6,200
Net income/(loss) available to common shareholders	$	538,842	$	159,315	$	220,846

Weighted average common shares outstanding—basic	324,375		241,436		232,700
Effect of dilutive securities	3,070		3,017		2,592
Weighted average common shares outstanding—diluted	327,445		244,453		235,292

Net income/(loss) per share available to common shareholders	$	1.66	$	0.66	$	0.95
Diluted income/(loss) per share available to common shareholders	$	1.65	$	0.65	$	0.94

The following table presents outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met:



(Shares in thousands)	2018		2017		2016
Stock options excluded from the calculation of diluted EPS	2,256		2,468		2,610
Weighted average exercise price of stock options excluded from the calculation of diluted EPS	$	24.33	$	25.62	$	26.29
Other equity awards excluded from the calculation of diluted EPS	608		176		37