Earnings (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2021

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 June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Basic Earnings (Loss) per Common Share:
Net income (loss) attributable to Company	$	53,240	$	117,813	$	105,448	$	(470,570)
Less: Preferred Stock dividends (1)	(10,296)		(10,296)		(20,593)		(20,593)
Net income (loss) attributable to Company's common stockholders	$	42,944	$	107,517	$	84,855	$	(491,163)
Basic weighted average common shares outstanding	379,299		377,465		379,091		364,189
Basic Earnings (Loss) per Common Share	$	0.11	$	0.28	$	0.22	$	(1.35)

Diluted Earnings (Loss) per Common Share:
Net income (loss) attributable to Company	$	53,240	$	117,813	$	105,448	$	(470,570)
Less: Preferred Stock dividends (1)	(10,296)		(10,296)		(20,593)		(20,593)
Add back: Interest expense on Convertible Notes for the period, net of tax	—		2,665		—		—
Net income (loss) attributable to Company's common stockholders	$	42,944	$	110,182	$	84,855	$	(491,163)
Weighted average common shares outstanding	379,299		377,465		379,091		364,189
Net effect of assumed Convertible Notes conversion to common shares	—		19,695		—		—
Net effect of assumed PSUs vested	2,003		642		1,931		—
Net effect of assumed RSUs vested	215		2,180		145		—
Diluted weighted average common shares outstanding	381,517		399,982		381,167		364,189
Diluted Earnings (Loss) per Common Share	$	0.11	$	0.28	$	0.22	$	(1.35)

(1)For the six months ended June 30, 2020, includes Preferred Stock dividends declared in arrears in June 2020 for the quarterly period that began on January 15, 2020 and ended on April 14, 2020.