Computation of Earnings per Common Share (Tables)

6 Months Ended

Jun. 30, 2017

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)	2017			2016			2017			2016
Net income available to common shareholders	$	107,048		$	126,460		$	211,005		$	256,369
Less: Dividends paid on and earnings allocated to participating securities		(873	)		(983	)		(1,693	)		(1,962	)

Earnings applicable to common stock	$	106,175		$	125,477		$	209,312		$	254,407

Weighted average common shares outstanding		487,282,404			485,303,073			486,899,209			484,954,235

Basic earnings per common share	$	0.22		$	0.26		$	0.43		$	0.52

Earnings applicable to common stock	$	106,175		$	125,477		$	209,312		$	254,407

Weighted average common shares outstanding		487,282,404			485,303,073			486,899,209			484,954,235
Potential dilutive common shares ⁽¹⁾		—			—			—			—

Total shares for diluted earnings per share computation		487,282,404			485,303,073			486,899,209			484,954,235

Diluted earnings per common share and common share equivalents	$	0.22		$	0.26		$	0.43		$	0.52

(1)	At June 30, 2017 and 2016, there were no stock options outstanding.