Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Net Income, Weighted Average Common Shares Used in Calculating Basic Earnings Per Common Share and Diluted EPS

The following table presents net income, the weighted average common shares used in calculating basic earnings per common share (“EPS”) and those used in calculating diluted EPS for each period presented below.

	Three Months Ended   June 30,						Six Months Ended   June 30,
	2016			2015			2016			2015
Numerator
Net income	$	169,349		$	32,789		$	389,667		$	82,833
Deduct dividends paid	(32,519		)	(21,616		)	(64,966		)	(40,450		)
Undistributed earnings	$	136,830		$	11,173		$	324,701		$	42,383
Denominator
Weighted average shares outstanding used in basic   earnings per share	62,244,778			68,558,472			63,665,856			69,161,001
Incremental common shares from:
PSUs	431,575			621,327			561,214			720,763
ESPPs	46,939			64,600			46,939			64,600
Weighted average shares used in diluted earnings per   share calculations	62,723,292			69,244,399			64,274,009			69,946,364
Earnings per common share - Basic
Distributed earnings	$	0.52		$	0.30		$	1.02		$	0.57
Undistributed earnings	2.20			0.18			5.10			0.63
Net income	$	2.72		$	0.48		$	6.12		$	1.20
Earnings per common share - Diluted
Distributed earnings	$	0.52		$	0.30		$	1.01		$	0.57
Undistributed earnings	2.18			0.17			5.05			0.61
Net income	$	2.70		$	0.47		$	6.06		$	1.18