Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 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 (loss) allocable to common shareholders used in the basic and diluted EPS calculations ($ in thousands, except for per share data):


	For the Years Ended December 31,
	2022		2021		2020
Net income (loss) from continuing operations	$	(197,274)	$	16,574	$	(116,308)
Net loss (income) from continuing operations attributable to noncontrolling interests		(37)		75		(337)
Preferred dividends		(23,496)		(23,496)		(23,496)
Net loss from continuing operations and allocable to common shareholders for basic and diluted earnings per common share	$	(220,807)	$	(6,847)	$	(140,141)

Schedule of earnings per share allocable to common shares


	For the Years Ended December 31,
	2022		2021		2020
Earnings allocable to common shares:
Numerator for basic and diluted earnings per share:
Net loss from continuing operations and allocable to common shareholders	$	(220,807)	$	(6,847)	$	(140,141)
Net income from discontinued operations		797,688		121,452		85,455
Net (income) from discontinued operations attributable to noncontrolling interests		(179,089)		(5,620)		(11,251)
Net income (loss) allocable to common shareholders	$	397,792	$	108,985	$	(65,937)

Denominator for basic and diluted earnings per share:
Weighted average common shares outstanding for basic and diluted earnings per common share		80,722		71,831		75,684

Basic and diluted earnings per common share:⁽¹⁾
Net loss from continuing operations and allocable to common shareholders	$	(2.74)	$	(0.10)	$	(1.85)
Net income from discontinued operations and allocable to common shareholders		7.66		1.61		0.98
Net income (loss) allocable to common shareholders	$	4.92	$	1.51	$	(0.87)

(1)

For the year ended December 31, 2022, 2021 and 2020, 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 years ended December 31, 2022 and 2021, 2,737,451 and 6,441,572 shares, respectively, of the 3.125% Convertible Notes were anti-dilutive due to the Company having a net loss from continuing operations and allocable to common shareholders for the period. For the year ended December 31, 2020, no shares of common stock would have been issuable upon conversion of the 3.125% Convertible Notes, and therefore the 3.125% Convertible Notes had no effect on diluted EPS for such period.