Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.23.3
Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2023
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, 2023 and 2022. 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) 2023 2022 2023 2022
Basic Earnings Per Share:
Net income $ 306,192  $ 277,612  $ 326,829  $ 490,462 
Dividends on preferred stock (12,115) (13,747) (36,595) (41,242)
Gain on repurchase and retirement of preferred stock —  —  2,454  — 
Dividends and undistributed earnings allocated to participating restricted stock units
(1,895) (1,383) (1,936) (2,225)
Net income attributable to common stockholders, basic
$ 292,182  $ 262,482  $ 290,752  $ 446,995 
Basic weighted average common shares
96,176,287  86,252,104  95,059,856  86,107,979 
Basic earnings per weighted average common share
$ 3.04  $ 3.04  $ 3.06  $ 5.19 
Diluted Earnings Per Share:
Net income attributable to common stockholders, basic
$ 292,182  $ 262,482  $ 290,752  $ 446,995 
Reallocation impact of undistributed earnings to participating restricted stock units
117  70  (18)
Interest expense attributable to convertible notes 4,636  4,877  14,164  14,720 
Net income attributable to common stockholders, diluted
$ 296,935  $ 267,429  $ 304,921  $ 461,697 
Basic weighted average common shares
96,176,287  86,252,104  95,059,856  86,107,979 
Effect of dilutive shares issued in an assumed vesting of performance share units
241,752  140,833  316,447  157,200 
Effect of dilutive shares issued in an assumed conversion
9,210,091  9,739,163  9,472,715  9,855,665 
Diluted weighted average common shares 105,628,130  96,132,100  104,849,018  96,120,844 
Diluted earnings per weighted average common share
$ 2.81  $ 2.78  $ 2.91  $ 4.80 
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(1)If applicable, includes a nondiscretionary adjustment for the assumed change in the management fee calculation.