EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2016

The following table sets forth the comparison of basic and diluted earnings per common share:




At and year ended December 31,	2016		2015		2014

Basic earnings per common share
Net income	$	513,368	$	641,631	$	804,564
Less: amounts attributable from noncontrolling interests	—		—		(6,181		)
Less: preferred share dividends	46,597		40,069		40,088
Less: loss on repurchase of preferred shares	1,309		—		—
Net income available to common shareholders	$	465,462	$	601,562	$	770,657
Weighted average common shares outstanding - basic⁽¹⁾	90,772		98,609		104,368
Basic earnings per common share	$	5.13	$	6.10	$	7.38

Diluted earnings per common share
Net income available to common shareholders	$	465,462	$	601,562	$	770,657

Weighted average common shares outstanding - basic⁽¹⁾	90,772		98,609		104,368
Share-based compensation plans	775		1,020		1,345
Weighted average common shares outstanding - diluted⁽¹⁾	91,547		99,629		105,713
Diluted earnings per common share	$	5.08	$	6.04	$	7.29

Anti-dilutive shares excluded from the dilutive computation	170		165		282

(1)

On August 17, 2015, the Company entered into an Accelerated Share Repurchase (“ASR”) agreement (refer to Note 13 'Shareholders' Equity' for additional detail). The weighted-average number of shares outstanding used in the computation of basic and diluted earnings per share reflects the Company’s receipt of 4,149,378 shares delivered to the Company on August 20, 2015, and 1,358,380 common shares delivered to the Company on January 15, 2016 under the Company's ASR agreement.