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EPS Calculation
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
EPS Calculation EPS Calculation
 
The following table presents a reconciliation of the earnings/(loss) and shares used in calculating basic and diluted earnings/(loss) per share for the years ended December 31, 2023, 2022 and 2021:
 
 For the Year Ended December 31,
(In Thousands, Except Per Share Amounts)202320222021
Basic Earnings/(Loss) per Share:
   
Net income/(loss) to common stockholders
$80,164 $(231,581)$328,870 
Dividends declared on preferred stock(32,875)(32,875)(32,875)
Dividends, dividend equivalents and undistributed earnings allocated to participating securities— (627)(1,044)
Net income/(loss) to common stockholders - basic
$47,289 $(265,083)$294,951 
Basic weighted average common shares outstanding102,215 103,153 110,704 
Basic Earnings/(Loss) per Share
$0.46 $(2.57)$2.66 
Diluted Earnings/(Loss) per Share:
Net income/(loss) to common stockholders - basic
$47,289 $(265,083)$294,951 
Dividends, dividend equivalents and undistributed earnings allocated to participating securities— — 1,044 
Interest expense on Convertible Senior Notes— — 15,668 
Net income/(loss) to common stockholders - diluted
$47,289 $(265,083)$311,663 
Basic weighted average common shares outstanding102,215 103,153 110,704 
Unvested and vested restricted stock units1,363 — 757 
Effect of assumed conversion of Convertible Senior Notes to common shares— — 7,230 
Diluted weighted average common shares outstanding (1)
103,578 103,153 118,691 
Diluted Earnings/(Loss) per Share
$0.46 $(2.57)$2.63 
(1)At December 31, 2023, the Company had approximately 3.8 million equity instruments outstanding that were included in the calculation of diluted EPS for the year ended December 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 $11.89. These equity instruments may continue to have a dilutive impact on future EPS.  
During the year ended December 31, 2023, the Convertible Senior Notes were determined to be anti-dilutive and were excluded from 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) are included in the denominator for the purpose of calculating diluted EPS. The Convertible Senior Notes may have a dilutive impact on future EPS.