Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of computation of basic and diluted earnings per common share

The following table sets forth the computation of basic and diluted earnings per common share:



	Three Months Ended
	March 31,
	2013			2012

Numerator:
Net income	$	256,476		$	164,256
Preferred dividends	(5,484		)	(6,461		)
Net income available to common shareholders	$	250,992		$	157,795

Denominator:
Weighted average common shares outstanding — basic	130,907,902			133,954,623
Effect of dilutive common share equivalents:
Nonvested restricted shares	1,290,161			1,012,303
Stock options (1)	3,211,225			2,847,980
Weighted average common shares and common share equivalents outstanding — diluted	135,409,288			137,814,906

Earnings per common share:
Basic	$	1.92		$	1.18
Diluted	$	1.85		$	1.14

_________________________________________________

(1)

Certain stock options were not included in the computation of diluted earnings per share where the exercise price of the stock options exceeded the average market price and would have been anti-dilutive or where, when applying the treasury stock method to in-the-money options, the sum of the proceeds, including unrecognized compensation, exceeded the average market price and would have been anti-dilutive. For the 2013 first quarter and 2012 first quarter, the number of stock options excluded were 1,016,043 and 451,877, respectively.