XML 43 R33.htm IDEA: XBRL DOCUMENT
v3.23.1

EPS Calculation (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
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 earnings/(loss) per share for the three months ended March 31, 2023 and 2022:
|  | Three Months Ended March 31, |  |
(In Thousands, Except Per Share Amounts) |  | 2023 |  | 2022 |  |  |  |
Basic Earnings/(Loss) per Share: |  |  |  |  |  |  |  |
Net income/(loss) |  | $ | 72,784 |  |  | $ | (82,906) |  |  |  |  |
Dividends declared on preferred stock |  | (8,219) |  |  | (8,219) |  |  |  |  |
Dividends, dividend equivalents and undistributed earnings allocated to participating securities |  | (158) |  |  | (141) |  |  |  |  |
Net income/(loss) available to common stockholders - basic |  | $ | 64,407 |  |  | $ | (91,266) |  |  |  |  |
Basic weighted average common shares outstanding |  | 101,900 |  |  | 106,568 |  |  |  |  |
Basic Earnings/(Loss) per Share |  | $ | 0.63 |  |  | $ | (0.86) |  |  |  |  |
Diluted Earnings/(Loss) per Share: |  |  |  |  |  |  |  |
Net income/(loss) available to common stockholders - basic |  | $ | 64,407 |  |  | $ | (91,266) |  |  |  |  |
Interest expense on Convertible Senior Notes |  | 3,955 |  |  | — |  |  |  |  |
Dividends, dividend equivalents and undistributed earnings allocated to participating securities |  | 158 |  |  | — |  |  |  |  |
Net income/(loss) available to common stockholders - diluted |  | $ | 68,520 |  |  | $ | (91,266) |  |  |  |  |
Basic weighted average common shares outstanding |  | 101,900 |  |  | 106,568 |  |  |  |  |
Effect of assumed conversion of Convertible Senior Notes to common shares |  | 7,230 |  |  | — |  |  |  |  |
Unvested and vested restricted stock units |  | 956 |  |  | — |  |  |  |  |
Diluted weighted average common shares outstanding (1) |  | 110,086 |  |  | 106,568 |  |  |  |  |
Diluted Earnings/(Loss) per Share |  | $ | 0.62 |  |  | $ | (0.86) |  |  |  |  |
(1)At March 31, 2023, the Company had approximately 2.2 million equity instruments outstanding that were included in the calculation of diluted EPS for the three months ended March 31, 2023. These equity instruments reflect RSUs (based on current estimate of expected share settlement amount) with a weighted average grant date fair value of $13.30. These equity instruments may continue to have a dilutive impact on future EPS.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration