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EPS Calculation | 3 Months Ended
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Mar. 31, 2020
Earnings Per Share [Abstract] |
EPS Calculation | EPS Calculation The following table presents a reconciliation of the (loss)/earnings and shares used in calculating basic and diluted (loss)/earnings per share for the three months ended March 31, 2020 and 2019:
|  | Three Months Ended March 31,
(In Thousands, Except Per Share Amounts) |  | 2020 |  | 2019
Basic (Loss)/Earnings per Share: |  |  |  |
Net (loss)/income to common stockholders |  | $ | (908,995 | ) |  | $ | 88,857 |
Dividends declared on preferred stock |  | (5,215 | ) |  | (3,750 | )
Dividends, dividend equivalents and undistributed earnings allocated to participating securities |  | — |  |  | (256 | )
Net (loss)/income to common stockholders - basic |  | $ | (914,210 | ) |  | $ | 84,851 |
Basic weighted average common shares outstanding |  | 452,979 |  |  | 450,358 |
Basic (Loss)/ Earnings per Share |  | $ | (2.02 | ) |  | $ | 0.19 |
Diluted (Loss)/Earnings per Share: |  |  |  |
Net (loss)/income to common stockholders - basic |  | $ | (914,210 | ) |  | $ | 84,851 |
Interest expense on Convertible Senior Notes |  | — |  |  | — |
Net (loss)/income to common stockholders - diluted |  | $ | (914,210 | ) |  | $ | 84,851 |
Basic weighted average common shares outstanding |  | 452,979 |  |  | 450,358 |
Effect of assumed Convertible Senior Notes conversion to common shares |  | — |  |  | — |
Diluted weighted average common shares outstanding (1) |  | 452,979 |  |  | 450,358 |
Diluted (Loss)/Earnings per Share |  | $ | (2.02 | ) |  | $ | 0.19 |
(1) | At March 31, 2020, the Company had approximately 2.3 million equity instruments outstanding that were not included in the calculation of diluted EPS for the three months ended March 31, 2020, 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 $7.73. These equity instruments may have a dilutive impact on future EPS.
During the three months ended March 31, 2020, the Convertible Senior Notes were determined to be anti-dilutive and were not 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. The Convertible Senior Notes may have a dilutive impact on future EPS.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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