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Earnings Per Common Share | 9 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
Earnings Per Common Share | Earnings Per Common Share The following table sets forth the computation of basic and diluted earnings per common share:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 421,415 |  |  | $ | 488,682 |  |  | $ | 1,615,787 |  |  | $ | 866,397 |
Amounts attributable to noncontrolling interests | (1,473) |  |  | (69,643) |  |  | (82,203) |  |  | (4,420) |
Net income (loss) available to Arch | 419,942 |  |  | 419,039 |  |  | 1,533,584 |  |  | 861,977 |
Preferred dividends | (16,090) |  |  | (10,403) |  |  | (38,159) |  |  | (31,209) |
Loss on redemption of preferred shares | (15,101) |  |  | — |  |  | (15,101) |  |  | — |
Net income (loss) available to Arch common shareholders | $ | 388,751 |  |  | $ | 408,636 |  |  | $ | 1,480,324 |  |  | $ | 830,768 |
Denominator: |  |  |  |  |  |  |
Weighted average common shares and common share equivalents outstanding — basic | 389,274,220 |  |  | 402,850,485 |  |  | 395,899,591 |  |  | 403,081,266 |
Effect of dilutive common share equivalents: |  |  |  |  |  |  |
Nonvested restricted shares | 2,131,915 |  |  | 1,580,791 |  |  | 1,877,930 |  |  | 1,690,447 |
Stock options (1) | 6,497,212 |  |  | 4,763,381 |  |  | 6,482,964 |  |  | 5,543,184 |
Weighted average common shares and common share equivalents outstanding — diluted | 397,903,347 |  |  | 409,194,657 |  |  | 404,260,485 |  |  | 410,314,897 |
Earnings per common share: |  |  |  |  |  |  |
Basic | $ | 1.00 |  |  | $ | 1.01 |  |  | $ | 3.74 |  |  | $ | 2.06 |
Diluted | $ | 0.98 |  |  | $ | 1.00 |  |  | $ | 3.66 |  |  | $ | 2.02 |
(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 2021 third quarter and 2020 third quarter, the number of stock options excluded were 1,948,006 and 4,713,241, respectively. For the nine months ended September 30, 2021 and 2020 period, the number of stock options excluded were 2,397,507 and 2,361,413, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
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