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EPS Calculation (Tables) | 12 Months Ended
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Dec. 31, 2019
Earnings Per Share [Abstract] |
Schedule of reconciliation of the earnings and shares used in calculating basic and diluted EPS | The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted EPS for the years ended December 31, 2019, 2018 and 2017:
|  | For the Year Ended December 31,
(In Thousands, Except Per Share Amounts) |  | 2019 |  | 2018 |  | 2017
Basic EPS: |  |  |  |  |  |  |  |  |
Net income to common stockholders |  | $ | 378,117 |  |  | $ | 301,801 |  |  | $ | 322,393 |
Dividends declared on preferred stock |  | (15,000 | ) |  | (15,000 | ) |  | (15,000 | )
Dividends, dividend equivalents and undistributed earnings allocated to participating securities |  | (1,087 | ) |  | (943 | ) |  | (891 | )
Net income to common stockholders - basic |  | $ | 362,030 |  |  | $ | 285,858 |  |  | $ | 306,502 |
Basic weighted average common shares outstanding |  | 450,972 |  |  | 418,934 |  |  | 388,357 |
Basic EPS |  | $ | 0.80 |  |  | $ | 0.68 |  |  | $ | 0.79 |
Diluted EPS: |  |  |  |  |  |
Net income to common stockholders - basic |  | $ | 362,030 |  |  | $ | 285,858 |  |  | $ | 306,502 |
Interest expense on Convertible Senior Notes |  | 8,965 |  |  | — |  |  | — |
Net income to common stockholders - diluted |  | $ | 370,995 |  |  | $ | 285,858 |  |  | $ | 306,502 |
Basic weighted average common shares outstanding |  | 450,972 |  |  | 418,934 |  |  | 388,357 |
Effect of assumed Convertible Senior Notes conversion to common shares |  | 16,797 |  |  | — |  |  | — |
Diluted weighted average common shares outstanding (1) |  | 467,769 |  |  | 418,934 |  |  | 388,357 |
Diluted EPS |  | $ | 0.79 |  |  | $ | 0.68 |  |  | $ | 0.79 |
(1) At December 31, 2019, the Company had approximately 3.3 million equity instruments outstanding that were not included in the calculation of diluted EPS for the year ended December 31, 2019, as their inclusion would have been anti-dilutive. These equity instruments reflect RSUs (based on current estimate of expected share settlement amount) with a weighted average grant date fair value of $7.24. These equity instruments may have a dilutive impact on future EPS. During the year ended December 31, 2019, the Convertible Senior Notes were determined to be dilutive and were included in the calculation of diluted EPS under the “if-converted” method. Under this method, the periodic interest expense for dilutive notes is added back to the numerator and the weighted average number of shares that the notes are entitled to (if converted, regardless of whether the conversion option is in or out of the money) is included in the denominator for the purpose of calculating diluted EPS.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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