Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Reconciliation of Earnings/(Loss) Per Common and Diluted Share

The following table provides reconciliations of net income to net income available to common shareholders and the difference between average basic common shares outstanding and average diluted common shares outstanding:



(Dollars and shares in thousands, except per share data)	2019		2018		2017
Net income/(loss)	$	452,373	$	556,507	$	176,980
Net income attributable to noncontrolling interest	11,465		11,465		11,465
Net income/(loss) attributable to controlling interest	440,908		545,042		165,515
Preferred stock dividends	6,200		6,200		6,200
Net income/(loss) available to common shareholders	$	434,708	$	538,842	$	159,315

Weighted average common shares outstanding—basic	313,637		324,375		241,436
Effect of dilutive securities	2,020		3,070		3,017
Weighted average common shares outstanding—diluted	315,657		327,445		244,453

Net income/(loss) per share available to common shareholders	$	1.39	$	1.66	$	0.66
Diluted income/(loss) per share available to common shareholders	$	1.38	$	1.65	$	0.65

Schedule of Anti-Dilutive Options and Awards

The following table presents outstanding options and other equity awards that were excluded from the calculation of diluted earnings per share because they were either anti-dilutive (the exercise price was higher than the weighted-average market price for the period) or the performance conditions have not been met:



(Shares in thousands)	2019		2018		2017
Stock options excluded from the calculation of diluted EPS	2,359		2,256		2,468
Weighted average exercise price of stock options excluded from the calculation of diluted EPS	$	21.12	$	24.33	$	25.62
Other equity awards excluded from the calculation of diluted EPS	2,224		608		176