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EPS Calculation
 3 Months Ended
Mar. 31, 2025
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 three months ended March 31, 2025 and 2024:
 
Three Months Ended
March 31,
(In Thousands, Except Per Share Amounts)20252024
Basic Earnings/(Loss) per Share:
Net income/(loss) to common stockholders$41,176 $23,213 
Dividends declared on preferred stock(8,219)(8,219)
Dividends, dividend equivalents and undistributed earnings allocated to participating securities(206)(167)
Net income/(loss) attributable to common stockholders - basic$32,751 $14,827 
Basic weighted average common shares outstanding103,777 103,173 
Basic Earnings/(Loss) per Share$0.32 $0.14 
Diluted Earnings/(Loss) per Share:
Net income/(loss) to common stockholders - basic$32,751 $14,827 
Dividends, dividend equivalents and undistributed earnings allocated to participating securities— — 
Interest expense on Convertible Senior Notes— — 
Net income/(loss) attributable to common stockholders - diluted$32,751 $14,827 
Basic weighted average common shares outstanding103,777 103,173 
Unvested and vested restricted stock units1,602 2,076 
Effect of assumed conversion of Convertible Senior Notes to common shares— — 
Diluted weighted average common shares outstanding (1)
105,379 105,249 
Diluted Earnings/(Loss) per Share$0.31 $0.14 
(1)At March 31, 2025 and 2024, the Company had approximately 800,000 and 478,000 equity instruments outstanding that were excluded from the calculation of diluted EPS for the three months ended March 31, 2025 and 2024, as they were determined to be 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 $10.37 and $11.25, respectively. These equity instruments may have a dilutive impact on future EPS.  
During the three months ended March 31, 2024, 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.