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Computation of Earnings per Share (Tables)
 9 Months Ended
Sep. 30, 2015
Computation of Basic and Diluted Earnings Per Share

The following table presents the Company’s computation of basic and diluted EPS for the periods indicated:

 

     Three Months Ended
September 30,		      Nine Months Ended
September 30,		  
(in thousands, except share and per share data)    2015      2014      2015      2014  

Net income

      $114,688           $120,258           $357,651           $354,200     

Less: Dividends paid on and earnings allocated to participating securities

      (834)          (851)          (2,594)          (2,500)    
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings applicable to common stock

      $113,854           $119,407           $355,057           $351,700     
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding

      442,707,699           441,127,550           442,475,699           440,953,121     
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic earnings per common share

      $0.26           $0.27           $0.80           $0.80     
  

 

 

     

 

 

     

 

 

     

 

 

  

Earnings applicable to common stock

      $113,854           $119,407           $355,057           $351,700     
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding

      442,707,699           441,127,550           442,475,699           440,953,121     

Potential dilutive common shares (1)

      --           --           --           --     
  

 

 

     

 

 

     

 

 

     

 

 

  

Total shares for diluted earnings per share computation

      442,707,699           441,127,550           442,475,699           440,953,121     
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted earnings per common share and common share equivalents

      $0.26           $0.27           $0.80           $0.80     
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(1) Options to purchase 58,560 shares of the Company’s common stock that were outstanding in the three and nine months ended September 30, 2014, at a weighted average exercise price of $18.04, were excluded from the respective computations of diluted EPS because their inclusion also would have had an antidilutive effect.