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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Computation Of Basic And Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2018, 2017, and 2016 (in thousands, except per share data): 

 

 

Year Ended December 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Net income

 

$

393,968

 

 

$

182,871

 

 

$

81,520

 

Preferred dividends

 

 

9,375

 

 

 

9,375

 

 

 

3,906

 

Net income available to common shareholders

 

$

384,593

 

 

$

173,496

 

 

$

77,614

 

Shares for basic and diluted calculation:

 

 

 

 

 

 

 

 

 

 

 

 

Average shares used in basic computation

 

 

71,786

 

 

 

68,562

 

 

 

66,871

 

Dilutive effect of stock options and units (1)

 

 

9,535

 

 

 

12,473

 

 

 

10,692

 

Average shares used in diluted computation

 

 

81,321

 

 

 

81,035

 

 

 

77,563

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

5.36

 

 

$

2.53

 

 

$

1.16

 

Diluted

 

$

4.73

 

 

$

2.14

 

 

$

1.00

 

 

(1)

Diluted earnings per share is computed on the basis of the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Diluted earnings per share include stock options and units.