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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Preferred Stock
Capital surplus
Retained earnings
Treasury stock
Accumulated other comprehensive income (loss)
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              
Net income 728,825       728,825    
Issuance of stock 3,461 1   3,460      
Dividends declared:              
Common stock [1] (106,354) [2]       (106,354)    
Preferred stock (1,059)       (1,059)    
Common stock purchases [3] (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              
Net income 248,114       248,114    
Issuance of stock 1,235 1   1,234      
Dividends declared:              
Common stock [2] (36,306)       (36,306)    
Preferred stock (353)       (353)    
Common stock purchases [4] (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)
Beginning balance at Dec. 31, 2021 5,969,397 1,046 22,143 4,650,182 2,973,745 (1,352,650) (325,069)
Increase Decrease In Stockholders Equity              
Net income 845,502       845,502    
Issuance of stock 4,285     4,285      
Dividends declared:              
Common stock (124,168)       (124,168)    
Preferred stock (1,059)       (1,059)    
Common stock purchases [5] (637,520)     (5,882)   (631,638)  
Stock based compensation 17,663     3,923   13,740  
Other comprehensive loss, net of tax (2,399,262)           (2,399,262)
Ending balance at Sep. 30, 2022 3,674,838 1,046 22,143 4,652,508 3,694,020 (1,970,548) (2,724,331)
Beginning balance at Jun. 30, 2022 4,293,349 1,046 22,143 4,576,478 3,311,951 (1,665,253) (1,953,016)
Increase Decrease In Stockholders Equity              
Net income 422,395       422,395    
Issuance of stock 1,550     1,550      
Dividends declared:              
Common stock [6] (39,973)       (39,973)    
Preferred stock (353)       (353)    
Common stock purchases (231,225)     74,118   (305,343)  
Stock based compensation 410     362   48  
Other comprehensive loss, net of tax (771,315)           (771,315)
Ending balance at Sep. 30, 2022 $ 3,674,838 $ 1,046 $ 22,143 $ 4,652,508 $ 3,694,020 $ (1,970,548) $ (2,724,331)
[1] Dividends declared per common share during the nine months ended September 30, 2022 - $1.65 (2021 - $1.30).
[2] Dividends declared per common share during the quarter ended September 30, 2022 - $0.55 (2021 - $0.45).
[3] During the nine months ended September 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. Refer to Note 18 for additional information.
[4] During the quarter ended September 30, 2021, the Corporation completed a $350 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.
[5] During the nine months ended September 30, 2022, the Corporation completed a $400 million accelerated share repurchase transaction with respect to its common stock and entered into an additional $231 million accelerated share repurchase transaction with respect to its common stock. Both were accounted for as a treasury stock transaction. Refer to Note 18 for additional information.
[6] During July 2022, the Corporation completed a $400 million accelerated share repurchase transaction with respect to its common stock. During August 2022, the Corporation entered into a $231 million accelerated share repurchase transaction with respect to its common stock. Both were accounted for as treasury stock transactions. Refer to Note 18 for additional information.