Three Months Ended

Nine Months Ended

September 30,

(Dollars in thousands, except per share amounts)

2021

2020

2021

2020

Net income (loss) per share:

Numerator

Net income (loss)

$

(73,468)

$

243,057

$

948,376

$

450,549

Less: dividends declared-common shares and unvested common shares

(61,457)

(61,910)

(185,731)

(187,115)

Undistributed earnings

(134,925)

181,148

762,646

263,435

Percentage allocated to common shareholders (1)

100.0

%

98.8

%

98.7

%

98.7

%

(134,925)

178,938

752,414

260,096

Add: dividends declared-common shareholders

61,457

61,199

183,333

184,836

Numerator for basic and diluted earnings per common share

$

(73,468)

$

240,138

$

935,748

$

444,931

Denominator

Denominator for basic earnings per weighted-average common shares

39,161

39,483

39,409

39,711

Effect of dilutive securities:

Options

36

74

44

79

Denominator for diluted earnings per adjusted weighted-average common shares

39,197

39,557

39,452

39,790

Per common share net income (loss)

Basic

$

(1.88)

$

6.08

$

23.74

$

11.20

Diluted

$

(1.88)

$

6.07

$

23.72

$

11.18

⁽¹⁾

Basic weighted-average common shares outstanding

39,161

39,483

39,409

39,711

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

39,161

39,971

39,945

40,221

Percentage allocated to common shareholders

100.0

%

98.8

%

98.7

%

98.7

%

(Some amounts may not reconcile due to rounding.)