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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, 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 330,346         330,346      
Issuance of stock 3,140   1   3,139        
Dividends declared:                  
Common stock [1] (102,861)         (102,861)      
Preferred stock (1,405)         (1,405)      
Common stock purchases [2] (503,667)       76,336     (580,003)  
Common stock reissuance 4,791       (1,180)     5,971  
Preferred stock redemption [3] (28,017)     (28,017)          
Stock based compensation 13,467       (4,018)     17,485  
Other comprehensive loss, net of tax 385,354               385,354
Ending balance at Sep. 30, 2020 5,912,085   1,045 22,143 4,521,689 2,168,153   (1,016,361) 215,416
Beginning balance at Jun. 30, 2020 5,780,165   1,044 22,143 4,520,333 2,033,782   (1,016,486) 219,349
Increase Decrease In Stockholders Equity [Roll Forward]                  
Net income 168,416         168,416      
Issuance of stock 1,146   1   1,145        
Dividends declared:                  
Common stock [4] (33,693)         (33,693)      
Preferred stock (352)         (352)      
Common stock purchases (185)       0     (185)  
Common stock reissuance 200       (69)     269  
Stock based compensation 321       280     41  
Other comprehensive loss, net of tax (3,933)               (3,933)
Ending balance at Sep. 30, 2020 5,912,085   1,045 22,143 4,521,689 2,168,153   (1,016,361) 215,416
Beginning balance at Dec. 31, 2020 6,028,687   1,045 22,143 4,571,534 2,260,928   (1,016,954) 189,991
Increase Decrease In Stockholders Equity [Roll Forward]                  
Net income 728,825         728,825      
Issuance of stock 3,461   1   3,460        
Dividends declared:                  
Common stock [1] (106,354)         (106,354)      
Preferred stock (1,059)         (1,059)      
Common stock purchases [5] (355,571)       (8,557)     (347,014)  
Stock based compensation 15,068       3,204     11,864  
Other comprehensive loss, net of tax (330,086)               (330,086)
Ending balance at Sep. 30, 2021 5,982,971   1,046 22,143 4,569,641 2,882,340   (1,352,104) (140,095)
Beginning balance at Jun. 30, 2021 5,814,614   1,045 22,143 4,506,659 2,670,885   (1,290,427) (95,691)
Increase Decrease In Stockholders Equity [Roll Forward]                  
Net income 248,114         248,114      
Issuance of stock 1,235   1   1,234        
Dividends declared:                  
Common stock [4] (36,306)         (36,306)      
Preferred stock (353)         (353)      
Common stock purchases [6] (264)       61,443     (61,707)  
Stock based compensation 335       305     30  
Other comprehensive loss, net of tax (44,404)               (44,404)
Ending balance at Sep. 30, 2021 $ 5,982,971   $ 1,046 $ 22,143 $ 4,569,641 $ 2,882,340   $ (1,352,104) $ (140,095)
[1] Dividends declared per common share during the nine months ended September 30, 2021 - $1.30 (2020 - $1.20).
[2] During the quarter ended June 30, 2020, the Corporation completed 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 17 for additional information.
[3] On February 24, 2020, the Corporation redeemed all the outstanding shares of 2008 Series B Preferred Stock. Refer to Note 17 for additional information.
[4] Dividends declared per common share during the quarter ended September 30, 2021 - $0.45 (2020 - $0.40).
[5] During the quarter ended June 30, 2021, the Corporation entered into a $350 million accelerated share repurchase transaction with respect to its common stock, which was accounted for as a treasury stock transaction. The transaction was completed on September 9, 2021. Refer to Note 17 for additional information.
[6] During the quarter ended September 30, 2021, the Corporation completed its previously announced $350 million accelerated share repurchase transaction with respect to its common stock. Refer to Note 17 for additional information.