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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)
In Thousands
Total
Common stock, including treasury stock
Preferred Stock
Surplus
Accumulated deficit
Accumulated other comprehensive income (loss)
Beginning Balance at Dec. 31, 2009 $ 2,538,817 $ 6,380 $ 50,160 $ 2,804,238 $ (292,752) $ (29,209)
Net income (loss) (129,544)       (129,544)  
Issuance of stock 1,150,000   1,150,000 [1]      
Issuance of common stock upon conversion of preferred stock 191,667 3,834 [1] (1,150,000) [1] 1,337,833 [1]    
Dividends declared:            
Issuance costs (47,642)     (47,642) [2]    
Deemed dividend on preferred stock (191,667) [3]       (191,667)  
Common stock purchases (503) (503)        
Other comprehensive income, net of tax 103,659         103,659
Ending Balance at Jun. 30, 2010 3,614,787 9,711 50,160 4,094,429 (613,963) 74,450
Beginning Balance at Dec. 31, 2010 3,800,531 9,655 50,160 4,094,005 (347,328) (5,961)
Net income (loss) 120,817       120,817  
Issuance of stock 3,917 13   3,904    
Dividends declared:            
Preferred stock (1,861)       (1,861)  
Common stock purchases (68) (68)        
Other comprehensive income, net of tax 40,732         40,732
Ending Balance at Jun. 30, 2011 $ 3,964,068 $ 9,600 $ 50,160 $ 4,097,909 $ (228,372) $ 34,771
[1] Issuance and subsequent conversion of depositary shares representing interests in shares of contingent convertible non-cumulative preferred stock, Series D, into common stock
[2] Issuance costs related to issuance and conversion of depository shares (Preferred Stock - Series D).
[3] Non-cash beneficial conversion, resulting from the conversion of contingently convertible perpetual non-cumulative preferred stock into shares of the Corporation's common stock. The beneficial conversion was recorded as a deemed dividend to the preferred stockholders reducing retained earnings, with a corresponding offset to surplus (paid in capital), and thus did not affect total stockholders' equity or the book value of the common stock.