Earnings (Loss) Per Common Share (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Computation of Basic and Dilutive Earnings (Loss) 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,
	2021		2020		2021		2020
Basic Earnings (Loss) per Common Share:
Net income (loss) attributable to Company	$	51,576	$	101,641	$	157,024	$	(368,929)
Less: Preferred Stock dividends	(11,272)		(10,297)		(31,865)		(30,890)
Less: Preferred Stock redemption charge	(3,443)		—		(3,443)		—
Net income (loss) attributable to Company's common stockholders	$	36,861	$	91,344	$	121,716	$	(399,819)
Basic weighted average common shares outstanding	379,395		377,744		379,193		368,740
Basic Earnings (Loss) per Common Share	$	0.10	$	0.24	$	0.32	$	(1.08)

Diluted Earnings (Loss) per Common Share:
Net income (loss) attributable to Company	$	51,576	$	101,641	$	157,024	$	(368,929)
Less: Preferred Stock dividends	(11,272)		(10,297)		(31,865)		(30,890)
Less: Preferred Stock redemption charge	(3,443)		—		(3,443)		—
Add back: Interest expense on Convertible Notes for the period, net of tax	—		2,525		—		—
Net income (loss) attributable to Company's common stockholders	$	36,861	$	93,869	$	121,716	$	(399,819)
Weighted average common shares outstanding	379,395		377,744		379,193		368,740
Net effect of assumed Convertible Notes conversion to common shares	—		19,694		—		—
Net effect of assumed PSUs vested	1,378		369		1,746		—
Net effect of assumed RSUs vested	210		1,902		166		—
Diluted weighted average common shares outstanding	380,983		399,709		381,105		368,740
Diluted Earnings (Loss) per Common Share	$	0.10	$	0.23	$	0.32	$	(1.08)