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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Cumulative effect adoption adjustment
Common Stock
Preferred Stock
Capital surplus
Retained earnings
Retained earnings
Cumulative effect adoption adjustment
Treasury stock
Accumulated other comprehensive income (loss)
Beginning balance at Dec. 31, 2019 $ 6,016,779 $ (205,842) $ 1,044 $ 50,160 $ 4,447,412 $ 2,147,915 $ (205,842) $ (459,814) $ (169,938)
Increase Decrease In Stockholders Equity [Roll Forward]                  
Net income 161,930         161,930      
Issuance of stock 1,994       1,994        
Dividends declared:                  
Common stock [1] (69,168)         (69,168)      
Preferred stock (1,053)         (1,053)      
Common stock purchases [2] (503,482)       76,336     (579,818)  
Common stock reissuance 4,591       (1,111)     5,702  
Preferred stock redemption [3] (28,017)     (28,017)          
Stock based compensation 13,146       (4,298)     17,444  
Other comprehensive loss, net of tax 389,287               389,287
Ending balance at Jun. 30, 2020 5,780,165   1,044 22,143 4,520,333 2,033,782   (1,016,486) 219,349
Beginning balance at Mar. 31, 2020 5,669,605   1,044 22,143 4,366,300 1,940,170   (870,675) 210,623
Increase Decrease In Stockholders Equity [Roll Forward]                  
Net income 127,628         127,628      
Issuance of stock 1,131       1,131        
Dividends declared:                  
Common stock [4] (33,663)         (33,663)      
Preferred stock (353)         (353)      
Common stock purchases [2] (681)       153,402     (154,083)  
Common stock reissuance 1,485       (548)     2,033  
Stock based compensation 6,287       48     6,239  
Other comprehensive loss, net of tax 8,726               8,726
Ending balance at Jun. 30, 2020 5,780,165   1,044 22,143 4,520,333 2,033,782   (1,016,486) 219,349
Beginning balance at Dec. 31, 2020 6,028,687   1,045 22,143 4,571,534 2,260,928   (1,016,954) 189,991
Increase Decrease In Stockholders Equity [Roll Forward]                  
Net income 480,711         480,711      
Issuance of stock 2,226       2,226        
Dividends declared:                  
Common stock [1] (70,048)         (70,048)      
Preferred stock (706)         (706)      
Common stock purchases [5] (355,307)       (70,000)     (285,307)  
Stock based compensation 14,733       2,899     11,834  
Other comprehensive loss, net of tax (285,682)               (285,682)
Ending balance at Jun. 30, 2021 5,814,614   1,045 22,143 4,506,659 2,670,885   (1,290,427) (95,691)
Beginning balance at Mar. 31, 2021 5,897,559   1,045 22,143 4,571,919 2,489,453   (1,012,263) (174,738)
Increase Decrease In Stockholders Equity [Roll Forward]                  
Net income 218,079         218,079      
Issuance of stock 1,108       1,108        
Dividends declared:                  
Common stock [4] (36,294)         (36,294)      
Preferred stock (353)         (353)      
Common stock purchases [5] (351,365)       (70,000)     (281,365)  
Stock based compensation 6,833       3,632     3,201  
Other comprehensive loss, net of tax 79,047               79,047
Ending balance at Jun. 30, 2021 $ 5,814,614   $ 1,045 $ 22,143 $ 4,506,659 $ 2,670,885   $ (1,290,427) $ (95,691)
[1] Dividends declared per common share during the six months ended June 30, 2021 - $0.85 (2020 - $0.80).
[2] During the quarter ended June 30, 2020, the Corporation completed a $500 million accelerated share repurchase transaction with respect to its common stock, which was accounted for as a treasury stock transaction. Refer to Note 17 for additional information.
[3] On February 24, 2020, the Corporation redeemed all the outstanding shares of 2008 Series B Preferred Stock. Refer to Note 17 for additional information.
[4] Dividends declared per common share during the quarter ended June 30, 2021 - $0.45 (2020 - $0.40).
[5] During the quarter ended June 30, 2021, the Corporation entered into a $350 million accelerated share repurchase transaction with respect to its common stock, which was accounted for as a treasury stock transaction. Refer to Note 17 for additional information.