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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, 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 423,107         423,107      
Issuance of stock 2,735       2,735        
Dividends declared:                  
Common stock [1] (84,195)         (84,195)      
Preferred stock (706)         (706)      
Common stock purchases [2] (406,295)       (80,000)     (326,295)  
Stock based compensation 17,253       3,561     13,692  
Other comprehensive (loss) income, net of tax (1,627,947)               (1,627,947)
Ending balance at Jun. 30, 2022 4,293,349   1,046 22,143 4,576,478 3,311,951   (1,665,253) (1,953,016)
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                  
Accounting Standards Update   ASU 2022-02         ASU 2022-02    
Ending balance at Dec. 31, 2022 4,093,425 $ 28,752 1,047 22,143 4,790,993 3,834,348 $ 28,752 (2,030,178) (2,524,928)
Beginning balance at Mar. 31, 2022 4,671,246   1,046 22,143 4,571,111 3,143,004   (1,668,820) (1,397,238)
Increase Decrease In Stockholders Equity                  
Net income 211,421         211,421      
Issuance of stock 1,536       1,536        
Dividends declared:                  
Common stock [3] (42,121)         (42,121)      
Preferred stock (353)         (353)      
Common stock purchases (1,375)             (1,375)  
Stock based compensation 8,773       3,831     4,942  
Other comprehensive (loss) income, net of tax (555,778)               (555,778)
Ending balance at Jun. 30, 2022 4,293,349   1,046 22,143 4,576,478 3,311,951   (1,665,253) (1,953,016)
Beginning balance at Dec. 31, 2022 4,093,425 $ 28,752 1,047 22,143 4,790,993 3,834,348 $ 28,752 (2,030,178) (2,524,928)
Increase Decrease In Stockholders Equity                  
Net income 310,139         310,139      
Issuance of stock 3,117       3,117        
Dividends declared:                  
Common stock [1] (79,249)         (79,249)      
Preferred stock (706)         (706)      
Common stock purchases (4,241)             (4,241)  
Stock based compensation 17,279       1,471     15,808  
Other comprehensive (loss) income, net of tax 196,493               196,493
Ending balance at Jun. 30, 2023 4,565,009   1,047 22,143 4,795,581 4,093,284   (2,018,611) (2,328,435)
Beginning balance at Mar. 31, 2023 4,470,725   1,047 22,143 4,792,619 3,982,140   (2,025,399) (2,301,825)
Increase Decrease In Stockholders Equity                  
Net income 151,160         151,160      
Issuance of stock 1,550       1,550        
Dividends declared:                  
Common stock [3] (39,663)         (39,663)      
Preferred stock (353)         (353)      
Common stock purchases (1,271)             (1,271)  
Stock based compensation 9,471       1,412     8,059  
Other comprehensive (loss) income, net of tax (26,610)               (26,610)
Ending balance at Jun. 30, 2023 $ 4,565,009   $ 1,047 $ 22,143 $ 4,795,581 $ 4,093,284   $ (2,018,611) $ (2,328,435)
[1]
Dividends declared per common share during the six months
 
ended June 30, 2023 - $
1.10
 
(2022 - $
1.10
).
[2]
During the six months ended June 30, 2022, the Corporation
 
entered into a $
400
 
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]
Dividends declared per common share during the quarter
 
ended June 30, 2023 - $
0.55
 
(2022 - $
0.55
).