Net Income (Loss) per Share (Tables)

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2021 and 2020 ($ in thousands except per share data):


	For the three months ended June 30,				For the six months ended June 30,
	2021		2020		2021		2020
Basic Earnings
Net income (loss)	$	67,691	$	60,201	$	126,026	$	(67,641)
Less: Preferred dividends	(3,385)		(3,385)		(6,770)		(6,770)
Net income (loss) available to common stockholders	$	64,306	$	56,816	$	119,256	$	(74,411)
Less: Dividends on participating securities	(849)		(719)		(1,697)		(1,521)
Basic Earnings	$	63,457	$	56,097	$	117,559	$	(75,932)

Diluted Earnings
Basic Earnings	$	63,457	$	56,097	$	117,559	$	(75,932)
Add: Dividends on participating securities	849		719		1,697		—
Add: Interest expense on Convertible Notes	8,261		8,678		16,506		—
Diluted Earnings	$	72,567	$	65,494	$	135,762	$	(75,932)

Number of Shares:
Basic weighted-average shares of common stock outstanding	139,884,060		151,523,513		139,845,178		152,735,852
Diluted weighted-average shares of common stock outstanding	170,832,186		182,083,702		170,812,544		152,735,852

Earnings Per Share Attributable to Common Stockholders
Basic	$	0.45	$	0.37	$	0.84	$	(0.50)
Diluted	$	0.42	$	0.36	$	0.79	$	(0.50)