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Earnings per common share (Tables)
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Computations of Basic Earnings Per Common Share

The computations of basic earnings per common share follow:

 

 

Three Months Ended September 30

 

 

Nine Months Ended September 30

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(In thousands, except per share)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income available to common shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

646,596

 

 

$

495,460

 

 

$

1,226,292

 

 

$

1,400,778

 

Less: Preferred stock dividends

 

 

(24,941

)

 

 

(17,050

)

 

 

(71,647

)

 

 

(51,150

)

Net income available to common equity

 

 

621,655

 

 

 

478,410

 

 

 

1,154,645

 

 

 

1,349,628

 

Less: Income attributable to unvested stock-based
   compensation awards

 

 

(1,106

)

 

 

(2,452

)

 

 

(2,245

)

 

 

(6,823

)

Net income available to common shareholders

 

$

620,549

 

 

$

475,958

 

 

$

1,152,400

 

 

$

1,342,805

 

Weighted-average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Common shares outstanding (including common
   stock issuable) and unvested stock-based
   compensation awards

 

 

174,921

 

 

 

129,580

 

 

 

160,793

 

 

 

129,529

 

Less: Unvested stock-based compensation awards

 

 

(312

)

 

 

(891

)

 

 

(319

)

 

 

(897

)

Weighted-average shares outstanding

 

 

174,609

 

 

 

128,689

 

 

 

160,474

 

 

 

128,632

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

3.55

 

 

$

3.70

 

 

$

7.18

 

 

$

10.44

 
Computations of Diluted Earnings Per Common Share

The computations of diluted earnings per common share follow:

 

 

Three Months Ended September 30

 

 

Nine Months Ended September 30

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(In thousands, except per share)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to common equity

 

$

621,655

 

 

$

478,410

 

 

$

1,154,645

 

 

$

1,349,628

 

Less: Income attributable to unvested stock-based
   compensation awards

 

 

(1,101

)

 

 

(2,449

)

 

 

(2,239

)

 

 

(6,816

)

Net income available to common shareholders

 

$

620,554

 

 

$

475,961

 

 

$

1,152,406

 

 

$

1,342,812

 

Adjusted weighted-average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

Common and unvested stock-based compensation
   awards

 

 

174,921

 

 

 

129,580

 

 

 

160,793

 

 

 

129,529

 

Less: Unvested stock-based compensation awards

 

 

(312

)

 

 

(891

)

 

 

(319

)

 

 

(897

)

Plus: Incremental shares from assumed conversion
   of stock-based compensation awards and warrants
   to purchase common stock

 

 

1,073

 

 

 

155

 

 

 

821

 

 

 

154

 

Adjusted weighted-average shares outstanding

 

 

175,682

 

 

 

128,844

 

 

 

161,295

 

 

 

128,786

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

3.53

 

 

$

3.69

 

 

$

7.14

 

 

$

10.43