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Net Income (Loss) per Share (Tables)

3 Months Ended

Mar. 31, 2021

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 per share of common stock for the three months ended March 31, 2021 and 2020 ($ in thousands except per share data):


	For the three months ended March 31,
		2021	2020
Basic Earnings


Net income (loss)	$	58,335	$	(127,842)
Less: Preferred dividends	(3,385)		(3,385)
Net income available to common stockholders	$	54,950	$	(131,227)
Less: Dividends on participating securities	(847)		(802)
Basic Earnings	$	54,103	$	(132,029)

Diluted Earnings
Basic Earnings	$	54,103	$	(132,029)
Add: Dividends on participating securities	847		—
Add: Interest expense on Notes	8,245		—
Diluted Earnings	$	63,195	$	(132,029)

Number of Shares:
Basic weighted-average shares of common stock outstanding	139,805,863		153,948,191
Diluted weighted-average shares of common stock outstanding	170,792,684		153,948,191

Earnings Per Share Attributable to Common Stockholders
Basic	$	0.39	$	(0.86)
Diluted	$	0.37	$	(0.86)