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Net Income (Loss) Per Common Share (Tables)
3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Summary of Table Reconciling Basic and Diluted Net Income Per Share
The following table presents the calculation of basic and diluted net income (loss) per common share:
Three Months Ended
March 31,
(dollars and shares in thousands, except per share data)20232022
Net income (loss)$146,600 $(27,586)
Preferred dividends(4,034)(2,017)
Net income (loss) applicable to common shares$142,566 $(29,603)
Weighted average common shares outstanding:
Weighted average common shares outstanding (basic)291,088 227,002 
Effect of dilutive securities:
Restricted stock1,666 — 
Stock appreciation rights2 — 
Weighted average diluted shares outstanding292,756 227,002 
Basic Net Income (Loss) Per Common Share$0.49 $(0.13)
Diluted Net Income (Loss) Per Common Share$0.49 $(0.13)