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EPS Calculation (Tables) | 6 Months Ended
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Jun. 30, 2022
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 (loss)/earnings and shares used in calculating basic and diluted (loss)/earnings per share for the three and six months ended June 30, 2022 and 2021:
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(In Thousands, Except Per Share Amounts) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Basic (Loss)/Earnings per Share: |  |  |  |  |  |  |  |
Net (loss)/income |  | $ | (100,367) |  |  | $ | 66,714 |  |  | $ | (183,273) |  |  | $ | 152,236 |
Dividends declared on preferred stock |  | (8,219) |  |  | (8,219) |  |  | (16,438) |  |  | (16,438) |
Dividends, dividend equivalents and undistributed earnings allocated to participating securities |  | (174) |  |  | (205) |  |  | (315) |  |  | (479) |
Net (loss)/income to available common stockholders - basic |  | $ | (108,760) |  |  | $ | 58,290 |  |  | $ | (200,026) |  |  | $ | 135,319 |
Basic weighted average common shares outstanding |  | 102,515 |  |  | 110,383 |  |  | 104,531 |  |  | 111,577 |
Basic (Loss)/Earnings per Share |  | $ | (1.06) |  |  | $ | 0.53 |  |  | $ | (1.91) |  |  | $ | 1.21 |
Diluted (Loss)/Earnings per Share: |  |  |  |  |  |  |  |
Net (loss)/income to available common stockholders - basic |  | $ | (108,760) |  |  | $ | 58,290 |  |  | $ | (200,026) |  |  | $ | 135,319 |
Interest expense on Convertible Senior Notes |  | — |  |  | — |  |  | — |  |  | 7,823 |
Dividends, dividend equivalents and undistributed earnings allocated to participating securities |  | — |  |  | 205 |  |  | — |  |  | 479 |
Net (loss)/income available to common stockholders - diluted |  | $ | (108,760) |  |  | $ | 58,495 |  |  | $ | (200,026) |  |  | $ | 143,621 |
Basic weighted average common shares outstanding |  | 102,515 |  |  | 110,383 |  |  | 104,531 |  |  | 111,577 |
Effect of assumed conversion of Convertible Senior Notes to common shares |  | — |  |  | — |  |  | — |  |  | 7,230 |
Unvested and vested restricted stock units |  | — |  |  | 657 |  |  | — |  |  | 442 |
Diluted weighted average common shares outstanding (1) |  | 102,515 |  |  | 111,040 |  |  | 104,531 |  |  | 119,249 |
Diluted (Loss)/Earnings per Share |  | $ | (1.06) |  |  | $ | 0.53 |  |  | $ | (1.91) |  |  | $ | 1.20 |
(1)The Company had approximately 1.5 million equity instruments outstanding that were determined to be anti-dilutive and were excluded from the calculation of diluted EPS for the six months ended June 30, 2022. These equity instruments reflect RSUs (based on current estimate of expected share settlement amount) with a weighted average grant date fair value of $17.07. 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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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