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Earnings Per Share (Tables)
12 Months Ended
Dec. 31, 2014
Earnings Per Share

The following table reconciles earnings per common share:

 

     For the Year  
     2014     2013     2012  
     (In thousands, except per share amounts)  

Basic:

      

Net income

   $ 498,874      $ 903,944      $ 776,464   

Less: Net income allocable to participating RSUs

     (4,028     (8,335     (7,730
  

 

 

   

 

 

   

 

 

 

Net income available for basic common shares

   $ 494,846      $ 895,609      $ 768,734   
  

 

 

   

 

 

   

 

 

 

Weighted average common shares outstanding

     339,016        343,394        341,665   
  

 

 

   

 

 

   

 

 

 

Basic net income per common share

   $ 1.46      $ 2.61      $ 2.25   
  

 

 

   

 

 

   

 

 

 

Diluted:

      

Net income

   $ 498,874      $ 903,944      $ 776,464   

Less: Net income allocable to participating RSUs

     (4,028     (8,291     (7,682
  

 

 

   

 

 

   

 

 

 

Net income available for diluted common shares

   $ 494,846      $ 895,653      $ 768,782   
  

 

 

   

 

 

   

 

 

 

Weighted average common shares outstanding

     339,016        343,394        341,665   

Weighted average common equivalent shares arising from:

      

Dilutive stock options and non-participating RSUs

     1,752        4,065        4,493   
  

 

 

   

 

 

   

 

 

 

Weighted average number of common and potential common shares

     340,768        347,459        346,158   
  

 

 

   

 

 

   

 

 

 

Diluted net income per common share

   $ 1.45      $ 2.58      $ 2.22