Earnings per Common Share (Tables)

9 Months Ended

Sep. 30, 2015

Earnings per Common Share

Schedule of basic and diluted EPS

	For the three months ended September 30,				For the nine months ended September 30,
(in thousands, except per share amounts) (1)	2015		2014		2015		2014
Basic EPS:
Net income attributable to City National Corporation	$	71,808	$	69,891	$	201,873	$	189,182
Less: Dividends on preferred stock	4,093		4,093		12,281		12,281
Net income available to common shareholders	$	67,715	$	65,798	$	189,592	$	176,901
Less: Earnings allocated to participating securities	576		644		1,664		1,801
Earnings allocated to common shareholders	$	67,139	$	65,154	$	187,928	$	175,100
Weighted-average common shares outstanding	55,829		55,031		55,668		54,893
Basic earnings per common share	$	1.20	$	1.18	$	3.38	$	3.19
Diluted EPS:
Earnings allocated to common shareholders (2)	$	67,143	$	65,160	$	187,943	$	175,116
Weighted-average common shares outstanding	55,829		55,031		55,668		54,893
Dilutive effect of equity awards	858		734		884		723
Weighted-average diluted common shares outstanding	56,687		55,765		56,552		55,616
Diluted earnings per common share	$	1.18	$	1.17	$	3.32	$	3.15

(1) Certain prior period amounts have been adjusted to reflect the adoption of ASU 2014-01. See Note 1, Summary of Significant Accounting Policies, for further discussion.

(2) Earnings allocated to common shareholders for basic and diluted EPS may differ under the two-class method as a result of adding common stock equivalents for options to dilutive shares outstanding, which alters the ratio used to allocate earnings to common shareholders and participating securities for the purposes of calculating diluted EPS.