Net Income (Loss) per Share (Tables)

12 Months Ended

Dec. 31, 2023

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 years ended December 31, 2023, 2022 and 2021 ($ in thousands except per share data):


	Year ended December 31,
		2023		2022		2021
Basic Earnings
Net income (loss)		$	58,127	$	265,232	$	223,515
Less: Preferred dividends		(12,272)		(12,272)		(12,964)
Net income (loss) available to common stockholders		$	45,855	$	252,960	$	210,551
Less: Dividends on participating securities		(4,353)		(4,132)		(3,877)
Basic Earnings (Loss)		$	41,502	$	248,828	$	206,674

Diluted Earnings
Basic Earnings (Loss)		$	41,502	$	248,828	$	206,674
Add: Dividends on participating securities		—		4,132		3,877
Add: Interest expense on Convertible Notes		—		25,385		35,020
Diluted Earnings		$	41,502	$	278,345	$	245,571

Number of Shares:
Basic weighted-average shares of common stock outstanding		141,281,286		140,534,635		139,869,244
Diluted weighted-average shares of common stock outstanding		141,281,286		165,504,660		168,402,515

Earnings (Loss) Per Share Attributable to Common Stockholders
Basic		$	0.29	$	1.77	$	1.48
Diluted		$	0.29	$	1.68	$	1.46