| Schedule of Earnings Per Share, Basic and Diluted |
The following table presents a reconciliation of the (loss) earnings and shares used in calculating basic and diluted (loss) earnings per share for the three and six months ended June 30, 2022 and 2021:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
|
June 30, |
|
June 30, |
|
(in thousands, except share data) |
2022 |
|
2021 |
|
2022 |
|
2021 |
|
|
|
Basic (Loss) Earnings Per Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income |
$ |
(72,420) |
|
|
$ |
(117,960) |
|
|
$ |
212,850 |
|
|
$ |
122,197 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends on preferred stock |
13,748 |
|
|
13,747 |
|
|
27,495 |
|
|
30,963 |
|
|
|
|
Dividends and undistributed earnings allocated to participating restricted stock units |
290 |
|
|
227 |
|
|
910 |
|
|
331 |
|
|
|
|
Net (loss) income attributable to common stockholders, basic |
$ |
(86,458) |
|
|
$ |
(131,934) |
|
|
$ |
184,445 |
|
|
$ |
90,903 |
|
|
|
|
Basic weighted average common shares |
344,277,723 |
|
|
273,718,561 |
|
|
344,138,889 |
|
|
273,714,684 |
|
|
|
|
Basic (loss) earnings per weighted average common share |
$ |
(0.25) |
|
|
$ |
(0.48) |
|
|
$ |
0.54 |
|
|
$ |
0.33 |
|
|
|
|
Diluted (Loss) Earnings Per Share: |
|
|
|
|
|
|
|
|
|
|
Net (loss) income attributable to common stockholders, basic |
$ |
(86,458) |
|
|
$ |
(131,934) |
|
|
$ |
184,445 |
|
|
$ |
90,903 |
|
|
|
|
Reallocation impact of undistributed earnings to participating restricted stock units |
— |
|
|
— |
|
|
(8) |
|
|
(11) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense attributable to convertible notes (1)
|
— |
|
|
— |
|
|
9,843 |
|
|
7,908 |
|
|
|
|
Net (loss) income attributable to common stockholders, diluted |
$ |
(86,458) |
|
|
$ |
(131,934) |
|
|
$ |
194,280 |
|
|
$ |
98,800 |
|
|
|
|
Basic weighted average common shares |
344,277,723 |
|
|
273,718,561 |
|
|
344,138,889 |
|
|
273,714,684 |
|
|
|
|
Effect of dilutive shares issued in an assumed vesting of performance share units |
— |
|
|
— |
|
|
543,480 |
|
|
— |
|
|
|
|
Effect of dilutive shares issued in an assumed conversion |
— |
|
|
— |
|
|
39,659,522 |
|
|
32,284,519 |
|
|
|
|
Diluted weighted average common shares |
344,277,723 |
|
|
273,718,561 |
|
|
384,341,891 |
|
|
305,999,203 |
|
|
|
|
Diluted (loss) earnings per weighted average common share |
$ |
(0.25) |
|
|
$ |
(0.48) |
|
|
$ |
0.51 |
|
|
$ |
0.32 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
___________________
(1)If applicable, includes a nondiscretionary adjustment for the assumed change in the management fee calculation.
|