Net Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Net Earnings Per Share

Schedule of reconciliation of basic and diluted net income per share

The following table sets forth the reconciliation of basic and diluted earnings per share (in thousands, except share and per share amounts):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Basic earnings per share:
Numerator
Net income	$	155,787	$	146,574	$	422,186	$	372,436
Preferred stock dividends		(3,844)		—		(8,115)		—
Net income available to common stockholders	$	151,943	$	146,574	$	414,071	$	372,436
Denominator
Weighted-average common shares outstanding		112,133,556		104,066,785		111,511,960		103,940,723
Basic earnings per share	$	1.36	$	1.41	$	3.71	$	3.58
Diluted earnings per share:
Numerator
Net income	$	155,787	$	146,574	$	422,186	$	372,436
Preferred stock dividends		(3,844)		—		(8,115)		—
Assumed conversion of convertible senior notes		—		1,823		—		5,309
Net income available to common stockholders plus assumed conversions	$	151,943	$	148,397	$	414,071	$	377,745
Denominator
Number of shares used in basic computation		112,133,556		104,066,785		111,511,960		103,940,723
Weighted-average effect of dilutive securities		1,129,840		8,442,827		1,325,566		8,437,147
Number of shares used in per share computation		113,263,396		112,509,612		112,837,526		112,377,870
Diluted earnings per share	$	1.34	$	1.32	$	3.67	$	3.36