Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.21.1
Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table presents a reconciliation of the earnings (loss) and shares used in calculating basic and diluted earnings (loss) per share for the three months ended March 31, 2021 and 2020:
Three Months Ended
March 31,
(in thousands, except share data) 2021 2020
Basic Earnings (Loss) Per Share:
Net income (loss) $ 240,157  $ (1,869,656)
Dividends on preferred stock 17,216  18,950 
Dividends and undistributed earnings allocated to participating restricted stock units 257  — 
Net income (loss) attributable to common stockholders, basic
$ 222,684  $ (1,888,606)
Basic weighted average common shares
273,710,765  273,392,615 
Basic earnings (loss) per weighted average common share $ 0.81  $ (6.91)
Diluted Earnings (Loss) Per Share:
Net income (loss) attributable to common stockholders, basic
$ 222,684  $ (1,888,606)
Reallocation impact of undistributed earnings to participating restricted stock units 14  — 
Interest expense attributable to convertible notes (1)
6,350  — 
Net income (loss) attributable to common stockholders - diluted
$ 229,048  $ (1,888,606)
Basic weighted average common shares
273,710,765  273,392,615 
Effect of dilutive shares issued in an assumed conversion
37,754,295  — 
Diluted weighted average common shares 311,465,060  273,392,615 
Diluted earnings (loss) per weighted average common share
$ 0.74  $ (6.91)
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(1)If applicable, includes a nondiscretionary adjustment for the assumed change in the management fee calculation.