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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Cumulative effect adoption adjustment
Common Stock
Preferred Stock
Capital surplus
Retained earnings
Retained earnings
Cumulative effect adoption adjustment
Treasury stock
Accumulated other comprehensive income (loss)
Beginning Balance at Dec. 31, 2018 $ 5,435,057 $ 4,905 $ 1,043 $ 50,160 $ 4,365,606 $ 1,651,731 $ 4,905 $ (205,509) $ (427,974)
Increase Decrease In Stockholders Equity [Roll Forward]                  
Net income 167,925         167,925      
Issuance of stock 793       793        
Dividends declared:                  
Common stock [1] (28,986)         (28,986)      
Preferred stock (931)         (931)      
Common stock purchases [2] (253,119)       (52,670)     (200,449)  
Common stock reissuance 2,183       178     2,005  
Stock based compensation 8,238       (867)     9,105  
Other comprehensive loss, net of tax 103,995               103,995
Ending Balance at Mar. 31, 2019 5,440,060   1,043 50,160 4,313,040 1,794,644   (394,848) (323,979)
Beginning Balance at Dec. 31, 2019 6,016,779 $ (205,842) 1,044 50,160 4,447,412 2,147,915 $ (205,842) (459,814) (169,938)
Increase Decrease In Stockholders Equity [Roll Forward]                  
Net income 34,302         34,302      
Issuance of stock 863       863        
Dividends declared:                  
Common stock [1] (35,505)         (35,505)      
Preferred stock (700)         (700)      
Common stock purchases [3] (502,801)       (77,066)     (425,735)  
Common stock reissuance 3,106       (563)     3,669  
Preferred stock redemption [4] (28,017)     (28,017)          
Stock based compensation 6,859       (4,346)     11,205  
Other comprehensive loss, net of tax 380,561               380,561
Ending Balance at Mar. 31, 2020 $ 5,669,605   $ 1,044 $ 22,143 $ 4,366,300 $ 1,940,170   $ (870,675) $ 210,623
[1] Dividends declared per common share during the quarter ended March 31, 2020 - $0.40 (2019 - $0.30).
[2] During the quarter ended March 31, 2019, the Corporation entered into a $250 million accelerated share repurchase transaction with respect to its common stock, which was accounted for as a treasury stock transaction. Refer to Note 18 for additional information.
[3] On January 30, 2020, the Corporation entered into a $500 million accelerated share repurchase transaction with respect to its common stock, which was accounted for as a treasury stock transaction. Refer to Note 18 for additional information.
[4] On February 24, 2020, the Corporation redeemed all the outstanding shares of 2008 Series B Preferred Stock. Refer to Note 18 for additional information.