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Computation of Earnings per Common Share (Tables)
3 Months Ended
Mar. 31, 2017
Computation of Basic and Diluted EPS

The following table presents the Company’s computation of basic and diluted EPS for the periods indicated:

 

     Three Months Ended March 31,  
(in thousands, except share and per share amounts)    2017      2016  

Net income available to common shareholders

   $ 103,957      $ 129,909  

Less: Dividends paid on and earnings allocated to participating securities

     (819      (979
  

 

 

    

 

 

 

Earnings applicable to common stock

   $ 103,138      $ 128,930  
  

 

 

    

 

 

 

Weighted average common shares outstanding

     486,511,756        484,605,397  
  

 

 

    

 

 

 

Basic earnings per common share

     $0.21        $0.27  
  

 

 

    

 

 

 

Earnings applicable to common stock

   $ 103,138      $ 128,930  
  

 

 

    

 

 

 

Weighted average common shares outstanding

     486,511,756        484,605,397  

Potential dilutive common shares (1)

     —          —    
  

 

 

    

 

 

 

Total shares for diluted earnings per common share computation

     486,511,756        484,605,397  
  

 

 

    

 

 

 

Diluted earnings per common share and common share equivalents

     $0.21        $0.27  
  

 

 

    

 

 

 

 

(1) At March 31, 2017 and 2016, there were no stock options outstanding.