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Earnings Per Share | 6 Months Ended
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Jun. 30, 2018
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table summarizes the Company’s computation of basic and diluted earnings per share (EPS) for the three and six months ended June 30, 2018 and 2017 (amounts in thousands except per share information):
| Three Months Ended June 30, 2018 |  | Six Months Ended June 30, 2018
| Income (numerator) |  | Shares (denominator) |  | Per Share Amount |  | Income (numerator) |  | Shares (denominator) |  | Per Share Amount
Basic EPS: |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 91,581 |  |  |  |  |  |  | $ | 121,119 |  |  |  |  |
Less: preferred dividend requirements | (6,036 | ) |  |  |  |  |  | (12,072 | ) |  |  |  |
Net income available to common shareholders | $ | 85,545 |  |  | 74,329 |  |  | $ | 1.15 |  |  | $ | 109,047 |  |  | 74,238 |  |  | $ | 1.47 |
Diluted EPS: |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders | $ | 85,545 |  |  | 74,329 |  |  |  |  | $ | 109,047 |  |  | 74,238 |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Share options | — |  |  | 36 |  |  |  |  |  |  |  | 35 |  |  |
Net income available to common shareholders | $ | 85,545 |  |  | 74,365 |  |  | $ | 1.15 |  |  | $ | 109,047 |  |  | 74,273 |  |  | $ | 1.47 |
| Three Months Ended June 30, 2017 |  | Six Months Ended June 30, 2017
| Income (numerator) |  | Shares (denominator) |  | Per Share Amount |  | Income (numerator) |  | Shares (denominator) |  | Per Share Amount
Basic EPS: |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 80,535 |  |  |  |  |  |  | $ | 134,451 |  |  |  |  |
Less: preferred dividend requirements | (5,952 | ) |  |  |  |  |  | (11,904 | ) |  |  |  |
Net income available to common shareholders | $ | 74,583 |  |  | 73,159 |  |  | $ | 1.02 |  |  | $ | 122,547 |  |  | 68,621 |  |  | $ | 1.79 |
Diluted EPS: |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders | $ | 74,583 |  |  | 73,159 |  |  |  |  | $ | 122,547 |  |  | 68,621 |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Share options | — |  |  | 66 |  |  |  |  | — |  |  | 68 |  |  |
Net income available to common shareholders | $ | 74,583 |  |  | 73,225 |  |  | $ | 1.02 |  |  | $ | 122,547 |  |  | 68,689 |  |  | $ | 1.78 |
The additional 2.1 million common shares that would result from the conversion of the Company’s 5.75% Series C cumulative convertible preferred shares and the additional 1.6 million common shares that would result from the conversion of the Company’s 9.0% Series E cumulative convertible preferred shares and the corresponding add-back of the preferred dividends declared on those shares are not included in the calculation of diluted earnings per share for the three and six months ended June 30, 2018 and 2017, respectively, because the effect is anti-dilutive. The dilutive effect of potential common shares from the exercise of share options is included in diluted earnings per share for the three and six months ended June 30, 2018 and 2017. However, options to purchase 86 thousand and 5 thousand common shares at per share prices ranging from $56.94 to $76.63 and ranging from $61.79 to $76.63, were outstanding for the three and six months ended June 30, 2018 and 2017, respectively, but were not included in the computation of diluted earnings per share because they were anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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