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Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2017 and 2016 (in thousands, except per share data):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Net income

 

$

52,811

 

 

$

9,771

 

 

$

118,323

 

 

$

36,826

 

Preferred dividends

 

 

2,344

 

 

 

—

 

 

 

4,688

 

 

 

—

 

Net income available to common shareholders

 

$

50,467

 

 

$

9,771

 

 

$

113,635

 

 

$

36,826

 

Shares for basic and diluted calculation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average shares used in basic computation

 

 

68,556

 

 

 

66,792

 

 

 

68,471

 

 

 

67,186

 

Dilutive effect of stock options and units (1)

 

 

11,465

 

 

 

9,190

 

 

 

11,920

 

 

 

8,898

 

Average shares used in diluted computation

 

 

80,021

 

 

 

75,982

 

 

 

80,391

 

 

 

76,084

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.74

 

 

$

0.15

 

 

$

1.66

 

 

$

0.55

 

Diluted

 

$

0.63

 

 

$

0.13

 

 

$

1.41

 

 

$

0.48

 

 

(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.