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Earnings Per Share
 12 Months Ended
Dec. 31, 2014
Earnings Per Share
Note 26 Earnings Per Share

The following table illustrates basic and diluted EPS under the guidance of GAAP for the years ended December 31, 2014, 2013 and 2012:

 

 

 

    2014     2013     2012  
(in thousands, except per share data)   Common
Stock		     Participating
Securities		     Common
Stock		     Participating
Securities		     Common
Stock		     Participating
Securities		  

Basic EPS:

            

Net income

   $ 322,872        $ 244,750        $ 244,280     

Less income allocated to nonvested awards

     (3,308 )      3,308        (1,595 )      1,595        (800 )      800   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income allocated to common stock for EPS calculation(a)

   $ 319,564        3,308      $ 243,155        1,595      $ 243,480        800   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Average common shares outstanding(b)

     184,297        1,925        187,145        1,246        187,403        627   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Basic EPS(a)/(b)

   $ 1.73        1.72      $ 1.30        1.28      $ 1.30        1.28   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Diluted EPS:

            

Net income

   $ 322,872        $ 244,750        $ 244,280     

Less income allocated to nonvested awards

     (3,288 )      3,288        (1,585 )      1,585        (796 )      796   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income allocated to common stock for EPS calculation(c)

   $ 319,584        3,288      $ 243,165        1,585      $ 243,484        796   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Average common shares outstanding

     184,297        1,925        187,145        1,246        187,403        627   

Increase due to assumed issuance of shares related to common equivalent shares outstanding

     1,459          1,648          1,262     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Average common and common equivalent shares outstanding(d)

     185,756        1,925        188,793        1,246        188,665        627   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Diluted EPS(c)/(d)

   $ 1.72        1.71      $ 1.29        1.27      $ 1.29        1.27   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

 

The diluted EPS calculation excludes stock options and nonvested awards that are convertible into 1.1 million, 2.9 million and 3.6 million common shares for the years ended December 31, 2014, 2013 and 2012, respectively, because their inclusion would have been anti-dilutive.