Earnings (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Computation of Basic and Dilutive Net Income Per Share

The following table presents the computation of basic and diluted earnings (loss) per common share for the periods indicated (dollar and share amounts in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Basic Earnings (Loss) per Common Share:
Net income (loss) attributable to Company	$	101,641	$	41,379	$	(368,929)	$	108,254
Less: Preferred Stock dividends	(10,297)		(6,544)		(30,890)		(18,726)
Net income (loss) attributable to Company's common stockholders	$	91,344	$	34,835	$	(399,819)	$	89,528
Basic weighted average common shares outstanding	377,744		234,043		368,740		203,270
Basic Earnings (Loss) per Common Share	$	0.24	$	0.15	$	(1.08)	$	0.44

Diluted Earnings (Loss) per Common Share:
Net income (loss) attributable to Company	$	101,641	$	41,379	$	(368,929)	$	108,254
Less: Preferred Stock dividends	(10,297)		(6,544)		(30,890)		(18,726)
Add back: Interest expense on convertible notes for the period, net of tax	2,525		2,674		—		7,981
Net income (loss) attributable to Company's common stockholders	$	93,869	$	37,509	$	(399,819)	$	97,509
Weighted average common shares outstanding	377,744		234,043		368,740		203,270
Net effect of assumed convertible notes conversion to common shares	19,694		19,694		—		19,694
Net effect of assumed RSUs vested	1,902		—		—		—
Net effect of assumed PSUs vested	369		1,800		—		1,781
Diluted weighted average common shares outstanding	399,709		255,537		368,740		224,745
Diluted Earnings (Loss) per Common Share	$	0.23	$	0.15	$	(1.08)	$	0.43