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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 504,350         504,350      
Issuance of stock 2,633   1   2,632        
Dividends declared:                  
Common stock [1] (86,996)         (86,996)      
Preferred stock (2,792)         (2,792)      
Common stock purchases [2] (256,006)       (52,670)     (203,336)  
Common stock reissuance 3,890       274     3,616  
Stock based compensation 14,313       1,714     12,599  
Other comprehensive loss, net of tax 289,094               289,094
Ending Balance at Sep. 30, 2019 5,908,448   1,044 50,160 4,317,556 2,071,198   (392,630) (138,880)
Beginning Balance at Jun. 30, 2019 5,719,834   1,044 50,160 4,316,225 1,935,826   (392,208) (191,213)
Increase Decrease In Stockholders Equity [Roll Forward]                  
Net income 165,319         165,319      
Issuance of stock 909       909        
Dividends declared:                  
Common stock [3] (29,017)         (29,017)      
Preferred stock (930)         (930)      
Common stock purchases (1,367)             (1,367)  
Common stock reissuance 964       50     914  
Stock based compensation 403       372     31  
Other comprehensive loss, net of tax 52,333               52,333
Ending Balance at Sep. 30, 2019 5,908,448   1,044 50,160 4,317,556 2,071,198   (392,630) (138,880)
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 [4] (503,667)       76,336     (580,003)  
Common stock reissuance 4,791       (1,180)     5,971  
Preferred stock redemption [5] (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 [3] (33,693)         (33,693)      
Preferred stock (352)         (352)      
Common stock purchases (185)             (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
[1] Dividends declared per common share during the nine months ended September 30, 2020 - $1.20 (2019 - $0.90).
[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] Dividends declared per common share during the quarter ended September 30, 2020 - $0.40 (2019 - $0.30).
[4] During the quarter ended March 31, 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. The transaction was completed on May 27, 2020. Refer to Note 18 for additional information.
[5] On February 24, 2020, the Corporation redeemed all the outstanding shares of 2008 Series B Preferred Stock. Refer to Note 18 for additional information.