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Earnings per common share (Tables)
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Computations of Basic Earnings Per Common Share

The computations of basic earnings per common share follow:

 

 

Year Ended December 31

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

(In thousands, except per share)

 

Income available to common shareholders:

 

 

 

 

 

 

 

 

 

Net income

 

$

1,991,663

 

 

$

1,858,746

 

 

$

1,353,152

 

Less: Preferred stock dividends

 

 

(96,587

)

 

 

(72,915

)

 

 

(68,228

)

Net income available to common equity

 

 

1,895,076

 

 

 

1,785,831

 

 

 

1,284,924

 

Less: Income attributable to unvested stock-based
   compensation awards

 

 

(3,607

)

 

 

(8,854

)

 

 

(5,858

)

Net income available to common shareholders

 

$

1,891,469

 

 

$

1,776,977

 

 

$

1,279,066

 

Weighted-average shares outstanding:

 

 

 

 

 

 

 

 

 

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

 

 

163,489

 

 

 

129,539

 

 

 

129,404

 

Less: Unvested stock-based compensation awards

 

 

(315

)

 

 

(890

)

 

 

(766

)

Weighted-average shares outstanding

 

 

163,174

 

 

 

128,649

 

 

 

128,638

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

 

$

11.59

 

 

$

13.81

 

 

$

9.94

 

Computations of Diluted Earnings Per Common Share

The computations of diluted earnings per common share follow:

 

 

Year Ended December 31

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

(In thousands, except per share)

 

 

 

 

 

 

 

 

 

 

 

Net income available to common equity

 

$

1,895,076

 

 

$

1,785,831

 

 

$

1,284,924

 

Less: Income attributable to unvested stock-based
   compensation awards

 

 

(3,596

)

 

 

(8,844

)

 

 

(5,856

)

Net income available to common shareholders

 

$

1,891,480

 

 

$

1,776,987

 

 

$

1,279,068

 

Adjusted weighted-average shares outstanding:

 

 

 

 

 

 

 

 

 

Common and unvested stock-based compensation awards

 

 

163,489

 

 

 

129,539

 

 

 

129,404

 

Less: Unvested stock-based compensation awards

 

 

(315

)

 

 

(890

)

 

 

(766

)

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

 

 

856

 

 

 

163

 

 

 

66

 

Adjusted weighted-average shares outstanding

 

 

164,030

 

 

 

128,812

 

 

 

128,704

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

 

$

11.53

 

 

$

13.80

 

 

$

9.94