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


	Three Months Ended						Six Months Ended
	June 30,						June 30,
(in thousands, except share and per share data)	2016			2015			2016			2015
Net income	$	126,460		$	123,704		$	256,369		$	242,963
Less: Dividends paid on and earnings allocated to participating securities		(983	)		(911	)		(1,962	)		(1,760	)

Earnings applicable to common stock	$	125,477		$	122,793		$	254,407		$	241,203

Weighted average common shares outstanding		485,303,073			442,721,173			484,954,235			442,357,774

Basic earnings per common share	$	0.26		$	0.28		$	0.52		$	0.55

Earnings applicable to common stock	$	125,477		$	122,793		$	254,407		$	241,203

Weighted average common shares outstanding		485,303,073			442,721,173			484,954,235			442,357,774
Potential dilutive common shares ⁽¹⁾		—			—			—			—

Total shares for diluted earnings per share computation		485,303,073			442,721,173			484,954,235			442,357,774

Diluted earnings per common share and common share equivalents	$	0.26		$	0.28		$	0.52		$	0.55

(1)

At June 30, 2016, there were no stock options outstanding. Options to purchase 10,000 shares of the Company’s common stock that were outstanding in the three and six months ended June 30, 2015, at weighted average exercise prices of $18.41 per share were excluded from the computation of diluted EPS because their inclusion would have had an antidilutive effect.