Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted earnings per share

The following table presents the computation of basic and diluted earnings per share:

	Year ended December 31,
(in thousands except per share data)	2019		2018		2017
Numerator:
Net income	$	322,866	$	300,824	$	197,063
Preferred stock dividends	9,750		9,750		9,750
Net income available to common stockholders	$	313,116	$	291,074	$	187,313
Denominator:
Denominator for basic earnings per share—weighted average shares	50,286,300		49,936,702		49,587,169
Effect of employee stock-based awards(1)	132,904		218,275		239,008
Effect of warrants to purchase common stock	—		117,895		433,657
Denominator for dilutive earnings per share—adjusted weighted average shares and assumed conversions	50,419,204		50,272,872		50,259,834
Basic earnings per common share	$	6.23	$	5.83	$	3.78
Diluted earnings per common share	$	6.21	$	5.79	$	3.73

(1)

SARs and RSUs outstanding of 86,308, 27,100 and 13,500 in 2019, 2018 and 2017, respectively, have not been included in diluted earnings per share because to do so would have been antidilutive for the periods presented.