Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2017

Basic and Diluted Earnings Per Common Share

The following table presents a reconciliation of net income available to common shareholders, net earnings allocated to common stock and the number of shares used in the calculation of basic and diluted earnings per common share.



	2017		2016		2015
Net Income	$	364,149	$	304,261	$	279,328
Less: Preferred stock dividends	8,063		8,063		8,063
Net income available to common shareholders	356,086		296,198		271,265
Less: Earnings allocated to participating securities	2,016		1,145		941
Net earnings allocated to common stock	$	354,070	$	295,053	$	270,324

Distributed earnings allocated to common stock	$	143,356	$	134,374	$	131,702
Undistributed earnings allocated to common stock	210,714		160,679		138,622
Net earnings allocated to common stock	$	354,070	$	295,053	$	270,324

Weighted-average shares outstanding for basic earnings per common share	63,693,927		62,376,260		62,758,074
Dilutive effect of stock compensation	968,161		592,615		715,250
Weighted-average shares outstanding for diluted earnings per common share	64,662,088		62,968,875		63,473,324