EARNINGS PER COMMON SHARE (TABLES)

3 Months Ended

Mar. 31, 2016

BASIC AND DILUTED EARNINGS PER COMMON SHARE

The following table sets forth the comparison of basic and diluted earnings per common share:



	Three months ended March 31,
	2016		2015

Basic earnings per common share
Net income	$	48,386	$	165,825
Less: preferred share dividends	9,969		10,022
Net income available to common shareholders	38,417		155,803
Weighted average common shares outstanding - basic⁽¹⁾	94,035		99,910
Basic earnings per common share	$	0.41	$	1.56

Diluted earnings per common share
Net income available to common shareholders	$	38,417	$	155,803

Weighted average common shares outstanding - basic⁽¹⁾	94,035		99,910
Share based compensation plans	818		1,229
Weighted average common shares outstanding - diluted⁽¹⁾	94,853		101,139

Diluted earnings per common share	$	0.41	$	1.54

Anti-dilutive shares excluded from the dilutive computation	670		569

(1)

On August 17, 2015, the Company entered into an Accelerated Share Repurchase (“ASR”) agreement (see 'Note 9 - Shareholders' Equity' for additional detail). The weighted-average number of shares outstanding used in the computation of basic and diluted earnings per share reflects the Company’s receipt of 4,149,378 common shares delivered to the Company on August 20, 2015, and 1,358,380 common shares delivered to the company on January 15, 2016 under the Company's ASR agreement