XML 50 R40.htm IDEA: XBRL DOCUMENT
v3.23.3

Income (Loss) Per Share (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Earnings Per Share [Abstract] |
Summary of Amounts Used in Calculating Basic and Diluted Earnings (Loss) Per Share | The following table reconciles the amounts used in calculating basic and diluted income (loss) per share (in thousands, except per-share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022 |  |
Income (loss) allocated to common stockholders - basic and diluted: |  |  |  |  |  |  |  |  |
Income (loss) attributable to the Company | $ | (63,562) |  |  | $ | (22,092) |  |  | $ | (149,092) |  |  | $ | (83,692) |  |  |
Less: dividends on preferred stock | (4,295) |  |  | (3,104) |  |  | (11,290) |  |  | (9,311) |  |  |
Less: deemed dividends on redeemable preferred stock | (760) |  |  | — |  |  | (1,993) |  |  | — |  |  |
Distributed and undistributed income (loss) allocated to common stockholders - basic and diluted | $ | (68,617) |  |  | $ | (25,196) |  |  | $ | (162,375) |  |  | $ | (93,003) |  |  |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |
Weighted average shares outstanding - basic and diluted | 34,459 |  |  | 34,371 |  |  | 34,395 |  |  | 34,324 |  |  |
Basic income (loss) per share: |  |  |  |  |  |  |  |  |
Net income (loss) allocated to common stockholders per share | $ | (1.99) |  |  | $ | (0.73) |  |  | $ | (4.72) |  |  | $ | (2.71) |  |  |
Diluted income (loss) per share: |  |  |  |  |  |  |  |  |
Net income (loss) allocated to common stockholders per share | $ | (1.99) |  |  | $ | (0.73) |  |  | $ | (4.72) |  |  | $ | (2.71) |  |  |
Summary of Computation of Diluted Income Per Share | Due to their anti-dilutive effect, the computation of diluted income (loss) per share does not reflect adjustments for the following items (in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |  |
Income (loss) allocated to common stockholders is not adjusted for: |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) attributable to redeemable noncontrolling interests in operating partnership |  | $ | (889) |  |  | $ | (231) |  |  | $ | (1,838) |  |  | $ | (679) |  |  |  |  |
Dividends on preferred stock - Series J (inclusive of deemed dividends) |  | 1,843 |  |  | — |  |  | 3,776 |  |  | — |  |  |  |  |
Dividends on preferred stock - Series K (inclusive of deemed dividends) |  | 108 |  |  | — |  |  | 196 |  |  | — |  |  |  |  |
Total |  | $ | 1,062 |  |  | $ | (231) |  |  | $ | 2,134 |  |  | $ | (679) |  |  |  |  |
Weighted average diluted shares are not adjusted for: |  |  |  |  |  |  |  |  |  |  |  |
Effect of assumed conversion of operating partnership units |  | 447 |  |  | 317 |  |  | 394 |  |  | 278 |  |  |  |  |
Effect of assumed issuance of shares for term loan exit fee |  | 1,745 |  |  | 1,745 |  |  | 1,745 |  |  | 1,745 |  |  |  |  |
Effect of assumed conversion of preferred stock - Series J |  | 21,712 |  |  | — |  |  | 9,978 |  |  | — |  |  |  |  |
Effect of assumed conversion of preferred stock - Series K |  | 1,135 |  |  | — |  |  | 514 |  |  | — |  |  |  |  |
Total |  | 25,039 |  |  | 2,062 |  |  | 12,631 |  |  | 2,023 |  |  |  |  |

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 -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-52 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareDilutedByCommonClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration