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Earnings Per Common Share (Tables)
6 Months Ended
Jun. 30, 2020
Earnings Per Common Share [Abstract]  
Schedule Of Net Income (Loss) Per Common Share

 

 

Three Months Ended

 

Six Months Ended

 

 

June 30,

 

June 30,

(Dollars in thousands, except per share amounts)

2020

 

2019

 

2020

 

2019

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

190,880

 

 

$

332,868

 

 

$

207,492

 

 

$

687,419

 

 

Less: dividends declared-common shares and nonvested common shares

 

(61,927)

 

 

 

(56,999)

 

 

 

(125,205)

 

 

 

(114,136)

 

 

Undistributed earnings

 

128,953

 

 

 

275,869

 

 

 

82,287

 

 

 

573,283

 

 

Percentage allocated to common shareholders (1)

 

98.7

%

 

 

98.9

%

 

 

98.7

%

 

 

98.9

%

 

 

 

127,233

 

 

 

272,750

 

 

 

81,224

 

 

 

567,037

 

 

Add: dividends declared-common shareholders

 

61,148

 

 

 

56,394

 

 

 

123,637

 

 

 

112,925

 

 

Numerator for basic and diluted earnings per common share

$

188,381

 

 

$

329,144

 

 

$

204,861

 

 

$

679,962

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per weighted-average common shares

 

39,449

 

 

 

40,277

 

 

 

39,827

 

 

 

40,291

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options

 

69

 

 

 

126

 

 

 

81

 

 

 

134

 

 

Denominator for diluted earnings per adjusted weighted-average common shares

 

39,519

 

 

 

40,404

 

 

 

39,908

 

 

 

40,425

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Per common share net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

$

4.78

 

 

$

8.17

 

 

$

5.14

 

 

$

16.88

 

 

Diluted

$

4.77

 

 

$

8.15

 

 

$

5.13

 

 

$

16.82

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Basic weighted-average common shares outstanding

 

39,449

 

 

 

40,277

 

 

 

39,827

 

 

 

40,291

 

 

Basic weighted-average common shares outstanding and nonvested common shares expected to vest

 

39,983

 

 

 

40,738

 

 

 

40,348

 

 

 

40,735

 

 

Percentage allocated to common shareholders

 

98.7

%

 

 

98.9

%

 

 

98.7

%

 

 

98.9

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Some amounts may not reconcile due to rounding.)