| Calculations for basic and diluted earnings per common share |
Presented below are the calculations for basic and diluted earnings per common share: | | | | | | | | | | | | | | For the Years Ended December 31, | | ($ in Thousands, except per share data) | 2022 | 2021 | 2020 | | Net income | $ | 366,122 | | $ | 350,994 | | $ | 306,771 | | | Preferred stock dividends | (11,500) | | (17,111) | | (18,358) | | | Net income available to common equity | $ | 354,622 | | $ | 333,883 | | $ | 288,413 | | | Common shareholder dividends | $ | (122,417) | | $ | (115,212) | | $ | (111,291) | | | Unvested share-based payment awards | (720) | | (849) | | (732) | | | Undistributed earnings | $ | 231,485 | | $ | 217,822 | | $ | 176,390 | | | Undistributed earnings allocated to common shareholders | $ | 229,995 | | $ | 216,299 | | $ | 175,134 | | | Undistributed earnings allocated to unvested share-based payment awards | 1,490 | | 1,523 | | 1,256 | | | Undistributed earnings | $ | 231,485 | | $ | 217,822 | | $ | 176,390 | | | Basic | | | | | Distributed earnings to common shareholders | $ | 122,417 | | $ | 115,212 | | $ | 111,291 | | | Undistributed earnings allocated to common shareholders | 229,995 | | 216,299 | | 175,134 | | | Total common shareholders earnings, basic | $ | 352,412 | | $ | 331,510 | | $ | 286,425 | | | Diluted | | | | | Distributed earnings to common shareholders | $ | 122,417 | | $ | 115,212 | | $ | 111,291 | | | Undistributed earnings allocated to common shareholders | 229,995 | | 216,299 | | 175,134 | | | Total common shareholders earnings, diluted | $ | 352,412 | | $ | 331,510 | | $ | 286,425 | | | Weighted average common shares outstanding | 149,162 | | 150,773 | | 153,005 | | | Effect of dilutive common stock awards | 1,334 | | 1,214 | | 637 | | | | | | | Diluted weighted average common shares outstanding | 150,496 | | 151,987 | | 153,642 | | | Basic earnings per common share | $ | 2.36 | | $ | 2.20 | | $ | 1.87 | | | Diluted earnings per common share | $ | 2.34 | | $ | 2.18 | | $ | 1.86 | |
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