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(Loss) Earnings Per Common Share
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
(Loss) Earnings Per Common Share
19. (Loss) Earnings Per Common Share

The Company calculates basic (loss) earnings per common share by dividing net (loss) income attributable to the Company's common stockholders for the period by weighted-average shares of common stock outstanding for that period. Diluted (loss) earnings per common share takes into account the effect of dilutive instruments, such as performance share units ("PSUs"), restricted stock units ("RSUs") and deferred stock units ("DSUs"), and the number of incremental shares that are to be added to the weighted-average number of shares outstanding.

During the three months ended June 30, 2025, the PSUs, RSUs and DSUs awarded under the 2017 Plan were determined to be anti-dilutive and were not included in the calculation of diluted loss per common share. During the six months ended June 30, 2025, certain of the PSUs, RSUs and DSUs awarded under the 2017 Plan were determined to be dilutive and were included in the calculation of diluted earnings per common share under the treasury stock method. Under this method, common equivalent shares are calculated assuming that target PSUs and outstanding RSUs and DSUs vest according to the respective PSU, RSU and DSU agreements and unrecognized compensation cost is used to repurchase shares of the Company’s outstanding common stock at the average market price during the reported period.

During the three and six months ended June 30, 2024, the PSUs and RSUs awarded under the 2017 Plan were determined to be anti-dilutive and were not included in the calculation of diluted loss per common share.

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

For the Three Months Ended June 30,For the Six Months Ended June 30,
2025202420252024
Basic (Loss) Earnings per Common Share:
Net income (loss) attributable to Company
$8,546 $(15,589)$50,701 $(73,489)
Less: Preferred Stock dividends(12,032)(10,439)(23,902)(20,878)
Net (loss) income attributable to Company's common stockholders
$(3,486)$(26,028)$26,799 $(94,367)
Basic weighted average common shares outstanding
90,324 90,989 90,453 91,053 
Basic (Loss) Earnings per Common Share
$(0.04)$(0.29)$0.30 $(1.04)
Diluted (Loss) Earnings per Common Share:
Net income (loss) attributable to Company
$8,546 $(15,589)$50,701 $(73,489)
Less: Preferred Stock dividends(12,032)(10,439)(23,902)(20,878)
Net (loss) income attributable to Company's common stockholders
$(3,486)$(26,028)$26,799 $(94,367)
Weighted average common shares outstanding
90,324 90,989 90,453 91,053 
Net effect of assumed PSUs vested— — 589 — 
Net effect of assumed RSUs and DSUs vested
— — 180 — 
Diluted weighted average common shares outstanding
90,324 90,989 91,222 91,053 
Diluted (Loss) Earnings per Common Share
$(0.04)$(0.29)$0.29 $(1.04)