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Computation of Earnings per Share (Tables) | 6 Months Ended
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Jun. 30, 2016
Computation of Basic and Diluted Earnings Per Share | The following table presents the Company’s computation of basic and diluted EPS for the periods indicated:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(in thousands, except share and per share data) |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Net income |  | $ | 126,460 |  |  | $ | 123,704 |  |  | $ | 256,369 |  |  | $ | 242,963 |
Less: Dividends paid on and earnings allocated to participating securities |  |  | (983 | ) |  |  | (911 | ) |  |  | (1,962 | ) |  |  | (1,760 | )
Earnings applicable to common stock |  | $ | 125,477 |  |  | $ | 122,793 |  |  | $ | 254,407 |  |  | $ | 241,203 |
Weighted average common shares outstanding |  |  | 485,303,073 |  |  |  | 442,721,173 |  |  |  | 484,954,235 |  |  |  | 442,357,774 |
Basic earnings per common share |  | $ | 0.26 |  |  | $ | 0.28 |  |  | $ | 0.52 |  |  | $ | 0.55 |
Earnings applicable to common stock |  | $ | 125,477 |  |  | $ | 122,793 |  |  | $ | 254,407 |  |  | $ | 241,203 |
Weighted average common shares outstanding |  |  | 485,303,073 |  |  |  | 442,721,173 |  |  |  | 484,954,235 |  |  |  | 442,357,774 |
Potential dilutive common shares (1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total shares for diluted earnings per share computation |  |  | 485,303,073 |  |  |  | 442,721,173 |  |  |  | 484,954,235 |  |  |  | 442,357,774 |
Diluted earnings per common share and common share equivalents |  | $ | 0.26 |  |  | $ | 0.28 |  |  | $ | 0.52 |  |  | $ | 0.55 |
(1) | At June 30, 2016, there were no stock options outstanding. Options to purchase 10,000 shares of the Company’s common stock that were outstanding in the three and six months ended June 30, 2015, at weighted average exercise prices of $18.41 per share were excluded from the computation of diluted EPS because their inclusion would have had an antidilutive effect.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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