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Earnings Per Common Share (Tables)
3 Months Ended
Mar. 31, 2020
Earnings Per Common Share [Abstract]  
Schedule Of Net Income (Loss) Per Common Share

 

 

Three Months Ended

 

 

 

March 31,

 

(Dollars in thousands, except per share amounts)

2020

 

 

2019

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

Numerator

 

 

 

 

 

 

 

 

Net income (loss)

$

16,612

 

 

$

354,551

 

 

Less: dividends declared-common shares and nonvested common shares

 

(63,277)

 

 

 

(57,137)

 

 

Undistributed earnings

 

(46,666)

 

 

 

297,415

 

 

Percentage allocated to common shareholders (1)

 

98.7

%

 

 

99.0

%

 

 

 

(46,082)

 

 

 

294,298

 

 

Add: dividends declared-common shareholders

 

62,488

 

 

 

56,531

 

 

Numerator for basic and diluted earnings per common share

$

16,406

 

 

$

350,829

 

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

Denominator for basic earnings per weighted-average common shares

 

40,204

 

 

 

40,304

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Options

 

92

 

 

 

141

 

 

Denominator for diluted earnings per adjusted weighted-average common shares

 

40,296

 

 

 

40,445

 

 

 

 

 

 

 

 

 

 

 

Per common share net income (loss)

 

 

 

 

 

 

 

 

Basic

$

0.41

 

 

$

8.70

 

 

Diluted

$

0.41

 

 

$

8.67

 

 

 

 

 

 

 

 

 

 

(1)

Basic weighted-average common shares outstanding

 

40,204

 

 

 

40,304

 

 

Basic weighted-average common shares outstanding and nonvested common shares expected to vest

 

40,713

 

 

 

40,731

 

 

Percentage allocated to common shareholders

 

98.7

%

 

 

99.0

%

 

 

 

 

 

 

 

 

 

(Some amounts may not reconcile due to rounding.)