Earnings per common share (Tables)

3 Months Ended

Mar. 31, 2012

Earnings per common share [Abstract]

Computations of basic earnings per common share

The computations of basic earnings per common share follow:

	Three months ended March 31
	2012			2011
	(in thousands, except per share)
Income available to common shareholders:
Net income	$	206,463			206,273
Less: Preferred stock dividends (a)		(13,363	)		(10,498	)
Amortization of preferred stock discount (a)		(1,924	)		(2,753	)
Net income available to common equity		191,176			193,022
Less: Income attributable to unvested stock-based compensation awards		(2,940	)		(2,909	)
Net income available to common shareholders	$	188,236			190,113
Weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		127,157			120,992
Less: Unvested stock-based compensation awards		(1,937	)		(1,791	)
Weighted-average shares outstanding		125,220			119,201
Basic earnings per common share	$	1.50			1.59

(a) Including impact of not as yet declared cumulative dividends.

Computations of diluted earnings per common share

The computations of diluted earnings per common share follow:

	Three months ended March 31
	2012			2011
	(in thousands, except per share)
Net income available to common equity	$	191,176			193,022
Less: Income attributable to unvested stock-based compensation awards		(2,935	)		(2,901	)
Net income available to common shareholders	$	188,241			190,121
Adjusted weighted-average shares outstanding:
Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards		127,157			120,992
Less: Unvested stock-based compensation awards		(1,937	)		(1,791	)
Plus: Incremental shares from assumed conversion of stock-based compensation awards and convertible preferred stock		396			651
Adjusted weighted-average shares outstanding		125,616			119,852
Diluted earnings per common share	$	1.50			1.59