Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Computation of Basic and Diluted Earnings Per Share

The following table presents the Company’s computation of basic and diluted EPS for the years ended December 31, 2013, 2012, and 2011:

	Years Ended December 31,
(in thousands, except share and per share amounts)	2013			2012			2011
Net income		$475,547			$501,106			$480,037
Less: Dividends paid on and earnings allocated to participating securities		(3,008	)		(4,702	)		(3,614	)
Earnings applicable to common stock		$472,539			$496,404			$476,423
Weighted average common shares outstanding		439,251,238			437,706,702			436,018,938
Basic earnings per common share		$1.08			$1.13			$1.09
Earnings applicable to common stock		$472,539			$496,404			$476,423
Weighted average common shares outstanding		439,251,238			437,706,702			436,018,938
Potential dilutive common shares (1)		—			5,540			124,196
Total shares for diluted earnings per share computation		439,251,238			437,712,242			436,143,134
Diluted earnings per common share and common share equivalents		$1.08			$1.13			$1.09

(1) Options to purchase 60,300 shares, 2,542,277 shares, and 6,302,302 shares, respectively, of the Company’s common stock that were outstanding as of December 31, 2013, 2012, and 2011, at respective weighted average exercise prices of $17.99, $16.86, and $16.30, were excluded from the respective computations of diluted EPS because their inclusion would have had an antidilutive effect.