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Computation of Earnings per Share (Tables) | 9 Months Ended
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Sep. 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 |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
(in thousands, except share and per share data) |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Net income |  | $ | 125,299 |  |  | $ | 114,688 |  |  | $ | 381,668 |  |  | $ | 357,651 |
Less: Dividends paid on and earnings allocated to participating securities |  |  | (973 | ) |  |  | (834 | ) |  |  | (2,928 | ) |  |  | (2,594 | )
Earnings applicable to common stock |  | $ | 124,326 |  |  | $ | 113,854 |  |  | $ | 378,740 |  |  | $ | 355,057 |
Weighted average common shares outstanding |  |  | 485,352,998 |  |  |  | 442,707,699 |  |  |  | 485,087,197 |  |  |  | 442,475,699 |
Basic earnings per common share |  | $ | 0.26 |  |  | $ | 0.26 |  |  | $ | 0.78 |  |  | $ | 0.80 |
Earnings applicable to common stock |  | $ | 124,326 |  |  | $ | 113,854 |  |  | $ | 378,740 |  |  | $ | 355,057 |
Weighted average common shares outstanding |  |  | 485,352,998 |  |  |  | 442,707,699 |  |  |  | 485,087,197 |  |  |  | 442,475,699 |
Potential dilutive common shares (1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total shares for diluted earnings per share computation |  |  | 485,352,998 |  |  |  | 442,707,699 |  |  |  | 485,087,197 |  |  |  | 442,475,699 |
Diluted earnings per common share and common share equivalents |  | $ | 0.26 |  |  | $ | 0.26 |  |  | $ | 0.78 |  |  | $ | 0.80 |
(1) | At September 30, 2016, there were no stock options outstanding.

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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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