Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Common Share [Abstract]

Schedule Of Net Income (Loss) Per Common Share

Three Months Ended

Nine Months Ended

September 30,

September 30,

(Dollars in thousands, except per share amounts)

2020

2019

2020

2019

Net income (loss) per share:

Numerator

Net income (loss) 

$

243,057

$

104,398

$

450,549

$

791,817

Less: dividends declared-common shares and unvested common shares

(61,910)

(56,995)

(187,115)

(171,131)

Undistributed earnings

181,148

47,403

263,435

620,687

Percentage allocated to common shareholders (1)

98.8

%

98.9

%

98.7

%

98.9

%

178,938

46,869

260,096

613,847

Add: dividends declared-common shareholders

61,199

56,403

184,836

169,329

Numerator for basic and diluted earnings per common share

$

240,138

$

103,273

$

444,931

$

783,176

Denominator

Denominator for basic earnings per weighted-average common shares

39,483

40,287

39,711

40,289

Effect of dilutive securities:

Options

74

125

79

131

Denominator for diluted earnings per adjusted weighted-average common shares

39,557

40,411

39,790

40,421

Per common share net income (loss)

Basic

$

6.08

$

2.56

$

11.20

$

19.44

Diluted

$

6.07

$

2.56

$

11.18

$

19.38

(1)

Basic weighted-average common shares outstanding

39,483

40,287

39,711

40,289

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

39,971

40,746

40,221

40,738

Percentage allocated to common shareholders

98.8

%

98.9

%

98.7

%

98.9

%

(Some amounts may not reconcile due to rounding.)