Earnings per common share (Tables)

9 Months Ended

Sep. 30, 2016

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
	2016			2015			2016			2015
	(in thousands, except per share)
Income available to common shareholders:
Net income	$	349,984			280,401			984,543			808,702
Less: Preferred stock dividends (a)		(20,318	)		(20,318	)		(60,953	)		(60,953	)
Net income available to common equity		329,666			260,083			923,590			747,749
Less: Income attributable to unvested stock-based compensation     awards		(2,674	)		(2,746	)		(7,920	)		(8,122	)
Net income available to common shareholders	$	326,992			257,337			915,670			739,627
Weighted-average shares outstanding:
Common shares outstanding (including common stock     issuable) and unvested stock-based compensation     awards		156,767			134,049			158,710			133,805
Less: Unvested stock-based compensation awards		(1,274	)		(1,419	)		(1,374	)		(1,458	)
Weighted-average shares outstanding		155,493			132,630			157,336			132,347
Basic earnings per common share	$	2.10			1.94			5.82			5.59

(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 September 30						Nine months ended September 30
	2016			2015			2016			2015
	(in thousands, except per share)
Net income available to common equity	$	329,666			260,083			923,590			747,749
Less: Income attributable to unvested stock-based     compensation awards		(2,668	)		(2,737	)		(7,904	)		(8,093	)
Net income available to common shareholders	$	326,998			257,346			915,686			739,656
Adjusted weighted-average shares outstanding:
Common and unvested stock-based compensation awards		156,767			134,049			158,710			133,805
Less: Unvested stock-based compensation awards		(1,274	)		(1,419	)		(1,374	)		(1,458	)
Plus: Incremental shares from assumed conversion of     stock-based compensation awards and warrants to     purchase common stock		533			746			507			742
Adjusted weighted-average shares outstanding		156,026			133,376			157,843			133,089
Diluted earnings per common share	$	2.10			1.93			5.80			5.56