Net Income (Loss) per Share (Tables)

9 Months Ended

Sep. 30, 2020

Basic and Diluted Net Income per Share of Common Stock Using Two-Class Method

The table below presents the computation of basic and diluted net income (loss) per share of common stock for the three and nine months ended September 30, 2020 and 2019 ($ in thousands except per share data):


	For the three months ended September 30,						For the nine months ended September 30,
	2020		2019		2020		2019
Basic Earnings
Net income (loss)	$	49,338	$	29,089	$	(18,303)	$	158,271
Less: Preferred dividends	(3,385)		(3,385)		(10,155)		(15,139)
Net income (loss) available to common stockholders	$	45,953	$	25,704	$	(28,458)	$	143,132
Less: Dividends on participating securities	(717)		(847)		(2,238)		(2,547)
Basic Earnings	$	45,236	$	24,857	$	(30,696)	$	140,585

Diluted Earnings
Net income (loss) available to common stockholders	$	45,953	$	25,704	$	(28,458)	$	143,132
Less: Dividends on participating securities	(717)		—		(2,238)		—
Add: Interest expense on Notes	—		—		—		—
Diluted Earnings	$	45,236	$	25,704	$	(30,696)	$	143,132



Number of Shares:
Basic weighted-average shares of common stock outstanding	146,612,313		153,531,678		150,679,773		144,638,237
Diluted weighted-average shares of common stock outstanding	146,612,313		153,531,678		150,679,773		144,638,237

Earnings Per Share Attributable to Common Stockholders
Basic	$	0.31	$	0.16	$	(0.20)	$	0.97
Diluted	$	0.31	$	0.16	$	(0.20)	$	0.97