M&T BANK CORP | 2013 | FY | 3


The computations of basic earnings per common share follow:

 

    Year Ended December 31  
    2013     2012     2011  
    (In thousands, except per share)  

Income available to common shareholders:

     

Net income

  $ 1,138,480      $ 1,029,498      $ 859,479   

Less: Preferred stock dividends(a)

    (54,120     (53,450     (45,839

Amortization of preferred stock discount(a)

    (7,942     (8,026     (20,018
 

 

 

   

 

 

   

 

 

 

Net income available to common equity

    1,076,418        968,022        793,622   

Less: Income attributable to unvested stock-based compensation awards

    (13,989     (14,632     (11,879
 

 

 

   

 

 

   

 

 

 

Net income available to common shareholders

  $ 1,062,429      $ 953,390      $ 781,743   

Weighted-average shares outstanding:

     

Common shares outstanding (including common stock issuable) and unvested stock-based compensation awards

    130,354        127,793        124,524   

Less: Unvested stock-based compensation awards

    (1,700     (1,929     (1,861
 

 

 

   

 

 

   

 

 

 

Weighted-average shares outstanding

    128,654        125,864        122,663   

Basic earnings per common share

  $ 8.26      $ 7.57      $ 6.37   

 

 

(a) Including impact of not as yet declared cumulative dividends.

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