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EPS Calculation (Tables) | 9 Months Ended
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Sep. 30, 2021
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/(loss) and shares used in calculating basic and diluted earnings/(loss) per share for the three and nine months ended September 30, 2021 and 2020:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In Thousands, Except Per Share Amounts) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Basic Earnings/(Loss) per Share: |  |  |  |  |  |  |  |
Net income/(loss) to common stockholders |  | $ | 132,511 |  |  | $ | 87,210 |  |  | $ | 284,747 |  |  | $ | (725,207) |
Dividends declared on preferred stock |  | (8,218) |  |  | (8,219) |  |  | (24,656) |  |  | (21,578) |
Dividends, dividend equivalents and undistributed earnings allocated to participating securities |  | (435) |  |  | (325) |  |  | (915) |  |  | (91) |
Net income/(loss) to common stockholders - basic |  | $ | 123,858 |  |  | $ | 78,666 |  |  | $ | 259,176 |  |  | $ | (746,876) |
Basic weighted average common shares outstanding |  | 440,889 |  |  | 453,323 |  |  | 444,481 |  |  | 453,170 |
Basic Earnings/(Loss) per Share |  | $ | 0.28 |  |  | $ | 0.17 |  |  | $ | 0.58 |  |  | $ | (1.65) |
Diluted Earnings/(Loss) per Share: |  |  |  |  |  |  |  |
Net income/(loss) to common stockholders - basic |  | $ | 123,858 |  |  | $ | 78,666 |  |  | $ | 259,176 |  |  | $ | (746,876) |
Interest expense on Convertible Senior Notes |  | 3,920 |  |  | 3,898 |  |  | 11,743 |  |  | — |
Dividends, dividend equivalents and undistributed earnings allocated to participating securities |  | 435 |  |  | — |  |  | 915 |  |  | — |
Net income/(loss) to common stockholders - diluted |  | $ | 128,213 |  |  | $ | 82,564 |  |  | $ | 271,834 |  |  | $ | (746,876) |
Basic weighted average common shares outstanding |  | 440,889 |  |  | 453,323 |  |  | 444,481 |  |  | 453,170 |
Effect of assumed conversion of Convertible Senior Notes to common shares |  | 28,920 |  |  | 28,920 |  |  | 28,920 |  |  | — |
Unvested and vested restricted stock units |  | 3,377 |  |  | — |  |  | 1,623 |  |  | — |
Effect of Warrants |  | — |  |  | 11,297 |  |  | — |  |  | — |
Diluted weighted average common shares outstanding (1) |  | 473,186 |  |  | 493,540 |  |  | 475,024 |  |  | 453,170 |
Diluted Earnings/(Loss) per Share |  | $ | 0.27 |  |  | $ | 0.17 |  |  | $ | 0.57 |  |  | $ | (1.65) |
(1)At September 30, 2021, the Company had approximately 7.0 million equity instruments outstanding that were included in the calculation of diluted EPS for the three and nine months ended September 30, 2021. These equity instruments reflect RSUs (based on current estimate of expected share settlement amount) with a weighted average grant date fair value of $4.21. These equity instruments may continue to have a dilutive impact on future 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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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