Net Income per Share (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022 and 2021 ($ in thousands except per share data):


	For the three months ended March 31,
	2022		2021
Basic Earnings
Net income	$	15,238	$	58,335
Less: Preferred dividends	(3,068)		(3,385)
Net income available to common stockholders	$	12,170	$	54,950
Less: Dividends on participating securities	(899)		(847)
Basic Earnings	$	11,271	$	54,103

Diluted Earnings
Basic Earnings	$	11,271	$	54,103
Add: Dividends on participating securities	—		847
Add: Interest expense on Convertible Notes	—		8,245
Diluted Earnings	$	11,271	$	63,195

Number of Shares:
Basic weighted-average shares of common stock outstanding	140,353,386		139,805,863
Diluted weighted-average shares of common stock outstanding	140,353,386		170,792,684

Earnings Per Share Attributable to Common Stockholders
Basic	$	0.08	$	0.39
Diluted	$	0.08	$	0.37