Earnings Per Common Share

Earnings per common share is computed using the two-class method as more fully described in our 2017 Form 10-K. 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.



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Net income	$	117,844	$	93,131	$	335,665	$	263,625
Less: Preferred stock dividends	2,016		2,016		6,047		6,047
Net income available to common shareholders	115,828		91,115		329,618		257,578
Less: Earnings allocated to participating securities	750		475		2,178		1,346
Net earnings allocated to common stock	$	115,078	$	90,640	$	327,440	$	256,232

Distributed earnings allocated to common stock	$	42,811	$	36,174	$	121,907	$	107,194
Undistributed earnings allocated to common stock	72,267		54,466		205,533		149,038
Net earnings allocated to common stock	$	115,078	$	90,640	$	327,440	$	256,232

Weighted-average shares outstanding for basic earnings per common share	63,892,023		63,667,356		63,793,514		63,822,011
Dilutive effect of stock compensation	1,022,168		897,945		1,037,043		957,337
Weighted-average shares outstanding for diluted earnings per common share	64,914,191		64,565,301		64,830,557		64,779,348