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Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of reconciliation of income (loss) from continuing operations used in the basic and diluted EPS calculations

The following table presents a reconciliation of income from operations used in the basic and diluted earnings per share (“EPS”) calculations ($ in thousands, except for per share data):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Net loss from continuing operations	$	(132,494)	$	(36,731)	$	(134,382)	$	(51,227)
Net (income) loss from continuing operations attributable to noncontrolling interests		(117)		20		(99)		65
Preferred dividends		(5,874)		(5,874)		(11,748)		(11,748)
Net loss from continuing operations and allocable to common shareholders for basic and diluted earnings per common share	$	(138,485)	$	(42,585)	$	(146,229)	$	(62,910)

Schedule of earnings per share allocable to common shares


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Earnings allocable to common shares:
Numerator for basic and diluted earnings per share:
Net loss from continuing operations and allocable to common shareholders	$	(138,485)	$	(42,585)	$	(146,229)	$	(62,910)
Net income from discontinued operations		—		25,315		797,688		47,800
Net (income) from discontinued operations attributable to noncontrolling interests		—		(2,273)		(179,089)		(4,838)
Net income (loss) allocable to common shareholders	$	(138,485)	$	(19,543)	$	472,370	$	(19,948)

Denominator for basic and diluted earnings per share:
Weighted average common shares outstanding for basic and diluted earnings per common share		81,442		72,872		75,274		73,374

Basic and diluted earnings per common share:⁽¹⁾
Net loss from continuing operations and allocable to common shareholders	$	(1.70)	$	(0.59)	$	(1.94)	$	(0.86)
Net income from discontinued operations and allocable to common shareholders		—		0.32		8.22		0.59
Net income (loss) allocable to common shareholders	$	(1.70)	$	(0.27)	$	6.28	$	(0.27)

(1)

For the three and six months ended June 30, 2022 and 2021, the effect of certain of the Company’s restricted stock awards were anti-dilutive due to the Company having a net loss from continuing operations and allocable to common shareholders for the period. For the three months ended June 30, 2022 and 2021, 1,787,708 and 4,700,805 shares, respectively, of the 3.125% Convertible Notes were antidilutive based upon the conversion price for such periods. For the six months ended June 30, 2022 and 2021, 5,308,491 and 3,797,296 shares, respectively, of the 3.125% Convertible Notes were antidilutive based upon the conversion price for such periods.