XML 70 R53.htm IDEA: XBRL DOCUMENT v3.23.3

Equity (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of Changes to Accumulated Other Comprehensive Income by Component

The following table provides a summary of changes to Accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2023 and 2022.

Table 18.1 – Changes in Accumulated Other Comprehensive Income (Loss) by Component

						Three Months Ended September 30, 2023												Three Months Ended September 30, 2022
(In Thousands)						Available-for-Sale Securities						Interest Rate Agreements Accounted for as Cash Flow Hedges						Available-for-Sale Securities						Interest Rate Agreements Accounted for as Cash Flow Hedges
Balance at beginning of period						$	8,165					$	(70,256)					$	16,595					$	(74,383)
Other comprehensive loss before reclassifications						(3,921)						—						(8,731)						—
Amounts reclassified from other accumulated comprehensive income (loss)						234						1,040						544						1,040
Net current-period other comprehensive income (loss)						(3,687)						1,040						(8,187)						1,040
Balance at End of Period						$	4,478					$	(69,216)					$	8,408					$	(73,343)

						Nine Months Ended September 30, 2023												Nine Months Ended September 30, 2022
(In Thousands)						Available-for-Sale Securities						Interest Rate Agreements Accounted for as Cash Flow Hedges						Available-for-Sale Securities						Interest Rate Agreements Accounted for as Cash Flow Hedges
Balance at beginning of period						$	3,435					$	(72,303)					$	67,503					$	(76,430)
Other comprehensive income (loss) before reclassifications						398						—						(60,013)						—
Amounts reclassified from other accumulated comprehensive income (loss)						645						3,087						918						3,087
Net current-period other comprehensive income (loss)						1,043						3,087						(59,095)						3,087
Balance at End of Period						$	4,478					$	(69,216)					$	8,408					$	(73,343)

Schedule of Reclassifications out of Accumulated Other Comprehensive Income

The following table provides a summary of reclassifications out of Accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2023 and 2022.

Table 18.2 – Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

												Amount Reclassified From Accumulated Other Comprehensive (Loss)
						Affected Line Item in the						Three Months Ended September 30,
(In Thousands)						Income Statement						2023						2022
Net Realized Loss on AFS Securities
(Decrease) increase in allowance for credit losses on AFS securities						Investment fair value changes, net						$	(66)					$	544
Loss on sale of AFS securities						Realized gains, net						300						—
												$	234					$	544
Net Realized Loss on Interest Rate   Agreements Designated as Cash Flow Hedges
Amortization of deferred loss						Interest expense						$	1,040					$	1,040
												$	1,040					$	1,040

												Amount Reclassified From Accumulated Other Comprehensive (Loss)
						Affected Line Item in the						Nine Months Ended September 30,
(In Thousands)						Income Statement						2023						2022
Net Realized (Gain) Loss on AFS Securities
Increase in allowance for credit losses on AFS securities						Investment fair value changes, net						$	33					$	2,315
Loss (gain) on sale of AFS securities						Realized gains, net						612						(1,397)
												$	645					$	918
Net Realized Loss on Interest Rate   Agreements Designated as Cash Flow Hedges
Amortization of deferred loss						Interest expense						$	3,087					$	3,087
												$	3,087					$	3,087

Schedule of Basic and Diluted Earnings (Loss) Per Common Share

The following table provides the basic and diluted earnings per common share computations for the three and nine months ended September 30, 2023 and 2022.

Table 18.3 – Basic and Diluted Earnings (Loss) per Common Share

						Three Months Ended September 30,												Nine Months Ended September 30,
(In Thousands, except Share Data)						2023						2022						2023						2022
Basic Loss per Common Share:
Net loss related to common stockholders						$	(32,560)					$	(50,411)					$	(28,244)					$	(119,462)
Less: Dividends and undistributed earnings allocated to participating securities						(792)						(1,158)						(3,072)						(3,445)
Net loss related to to common stockholders						$	(33,352)					$	(51,569)					$	(31,316)					$	(122,907)
Basic weighted average common shares outstanding						115,465,977						116,087,890						114,381,548						118,530,172
Basic Loss per Common Share						$	(0.29)					$	(0.44)					$	(0.27)					$	(1.04)
Diluted Loss per Common Share:
Net loss related to common stockholders						$	(32,560)					$	(50,411)					$	(28,244)					$	(119,462)
Less: Dividends and undistributed earnings allocated to participating securities						(792)						(1,158)						(3,072)						(3,445)
Add back: Interest expense on convertible notes for the period, net of tax						—						—						—						—
Net loss related to common stockholders						$	(33,352)					$	(51,569)					$	(31,316)					$	(122,907)
Weighted average common shares outstanding						115,465,977						116,087,890						114,381,548						118,530,172
Net effect of dilutive equity awards						—						—						—						—
Net effect of assumed convertible notes conversion to common shares						—						—						—						—
Diluted weighted average common shares outstanding						115,465,977						116,087,890						114,381,548						118,530,172
Diluted Loss per Common Share						$	(0.29)					$	(0.44)					$	(0.27)					$	(1.04)

X

- References

No definition available.

+ Details

Name:	us-gaap_EquityAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

+ References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

+ Details

Name:	us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
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