Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.22.2.2
Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table presents a reconciliation of the earnings and shares used in calculating basic and diluted earnings per share for the three and nine months ended September 30, 2022 and 2021. All per share amounts, common shares outstanding and common equity-based awards for all periods presented have been adjusted on a retroactive basis to reflect the reverse stock split.
Three Months Ended Nine Months Ended
September 30, September 30,
(in thousands, except share data) 2022 2021 2022 2021
Basic Earnings Per Share:
Net income $ 277,612  $ 66,324  $ 490,462  $ 188,521 
Dividends on preferred stock 13,747  13,748  41,242  44,711 
Dividends and undistributed earnings allocated to participating restricted stock units
1,383  200  2,225  532 
Net income attributable to common stockholders, basic
$ 262,482  $ 52,376  $ 446,995  $ 143,278 
Basic weighted average common shares
86,252,104  76,943,355  86,107,979  71,298,088 
Basic earnings per weighted average common share
$ 3.04  $ 0.68  $ 5.19  $ 2.01 
Diluted Earnings Per Share:
Net income attributable to common stockholders, basic
$ 262,482  $ 52,376  $ 446,995  $ 143,278 
Reallocation impact of undistributed earnings to participating restricted stock units
70  (13) (18) (24)
Interest expense attributable to convertible notes 4,877  4,848  14,720  12,755 
Net income attributable to common stockholders, diluted
$ 267,429  $ 57,211  $ 461,697  $ 156,009 
Basic weighted average common shares
86,252,104  76,943,355  86,107,979  71,298,088 
Effect of dilutive shares issued in an assumed vesting of performance share units
140,833  —  157,200  60,190 
Effect of dilutive shares issued in an assumed conversion
9,739,163  9,739,163  9,855,665  8,633,251 
Diluted weighted average common shares 96,132,100  86,682,518  96,120,844  79,991,529 
Diluted earnings per weighted average common share
$ 2.78  $ 0.66  $ 4.80  $ 1.95