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Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Computation Of Basic And Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2017 and 2016 (in thousands, except per share data):

 

 

 

Three Months Ended March 31,

 

 

 

2017

 

 

2016

 

Net income

 

$

65,512

 

 

$

27,055

 

Preferred dividends

 

 

2,344

 

 

 

—

 

Net income available to common shareholders

 

$

63,168

 

 

$

27,055

 

Shares for basic and diluted calculation:

 

 

 

 

 

 

 

 

Average shares used in basic computation

 

 

68,386

 

 

 

67,579

 

Dilutive effect of stock options and units (1)

 

 

12,309

 

 

 

8,507

 

Average shares used in diluted computation

 

 

80,695

 

 

 

76,086

 

Earnings per common share:

 

 

 

 

 

 

 

 

Basic

 

$

0.92

 

 

$

0.40

 

Diluted

 

$

0.78

 

 

$

0.36

 

 

(1)

Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Diluted earnings per share include stock options and units.