XML 70 R43.htm IDEA: XBRL DOCUMENT
v3.22.4

Net income per common share | 12 Months Ended
--- | ---
Dec. 31, 2022
Earnings Per Share |
Net Income (Loss) Per Common Share | Note 31 – Net income per common share The following table sets forth the computation of net income per common share (“EPS”), basic and diluted, for the years ended December 31, 2022, 2021 and 2020: (In thousands, except per share information) 2022 2021 2020 Net income $ 1,102,641 $ 934,889 $ 506,622 Preferred stock dividends (1,412) (1,412) (1,758) Net income applicable to common stock $ 1,101,229 $ 933,477 $ 504,864 Average common shares outstanding 75,147,263 81,263,027 85,882,371 Average potential dilutive common shares 126,740 157,127 92,888 Average common shares outstanding - assuming dilution 75,274,003 81,420,154 85,975,259 Basic EPS $ 14.65 $ 11.49 $ 5.88 Diluted EPS $ 14.63 $ 11.46 $ 5.87 As disclosed in Note 20, as of September 30, 2022, the Corporation completed its $ 400 million accelerated share repurchase transaction (“ASR”) and, in connection therewith, received an initial delivery of 3,483,942 shares of common stock during the first quarter of 2022 and 1,582,922 additional shares of common stock during the third quarter of 2022. The final number of shares delivered was based in the average daily volume weighted average price (“VWAP”) of the Corporation’s common stock, net of discount, during the term of the ASR, which amounted to $ 78.94 . As of December 31, 2022, the Corporation completed its $ 231 million accelerated share repurchase transaction entered on August 2022, (the “August ASR Agreement”) and, in connection therewith, received an initial delivery of 2,339,241 shares of common stock during the third quarter of 2022 and 840,024 additional shares of common stock during the fourth quarter of 2022. The final number of shares delivered was based in the average daily volume weighted average price (“VWAP”) of the Corporation’s common stock, net of discount, during the term of the ASR, which amounted to $ 72.66 . Potential common shares consist of shares of common stock issuable under the assumed exercise of stock options, restricted stock and performance share awards using the treasury stock method. This method assumes that the potential common shares are issued and the proceeds from exercise, in addition to the amount of compensation cost attributed to future services, are used to purchase shares of common stock at the exercise date. The difference between the number of potential common shares issued and the shares of common stock purchased is added as incremental shares to the actual number of shares outstanding to compute diluted earnings per share. Warrants, stock options, restricted stock and performance share awards, if any, that result in lower potential common shares issued than shares of common stock purchased under the treasury stock method are not included in the computation of dilutive earnings per share since their inclusion would have an antidilutive effect in earnings per common share.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration