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Earnings Per Share (Tables)
9 Months Ended
Sep. 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 nine months ended September 30, 2017 and 2016 (in thousands, except per share data):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Net income

 

$

66,536

 

 

$

17,814

 

 

$

184,859

 

 

$

54,640

 

Preferred dividends

 

 

2,343

 

 

 

1,563

 

 

 

7,031

 

 

 

1,563

 

Net income available to common shareholders

 

$

64,193

 

 

$

16,251

 

 

$

177,828

 

 

$

53,077

 

Shares for basic and diluted calculation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average shares used in basic computation

 

 

68,522

 

 

 

66,482

 

 

 

68,488

 

 

 

66,950

 

Dilutive effect of stock options and units (1)

 

 

12,359

 

 

 

11,062

 

 

 

12,074

 

 

 

9,662

 

Average shares used in diluted computation

 

 

80,881

 

 

 

77,544

 

 

 

80,562

 

 

 

76,612

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.94

 

 

$

0.24

 

 

$

2.60

 

 

$

0.79

 

Diluted

 

$

0.79

 

 

$

0.21

 

 

$

2.21

 

 

$

0.69

 

 

(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.