Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.20.2
Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2020
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 and nine months ended September 30, 2020 and 2019:
Three Months Ended Nine Months Ended
September 30, September 30,
(in thousands, except share data) 2020 2019 2020 2019
Numerator:
Net income (loss) $ 201,914  $ 305,700  $ (1,841,306) $ 189,208 
Dividends on preferred stock 18,950  18,951  56,851  56,851 
Net income (loss) attributable to common stockholders - basic
 182,964  286,749  (1,898,157) 132,357 
Interest expense attributable to convertible notes (1)
4,812  4,779  —  — 
Net income (loss) attributable to common stockholders - diluted
 $ 187,776  $ 291,528  $ (1,898,157) $ 132,357 
Denominator:
Weighted average common shares outstanding 272,415,242  271,689,878  272,315,905  264,871,455 
Weighted average restricted stock shares 1,290,543  1,207,697  1,252,093  1,243,317 
Basic weighted average shares outstanding
 273,705,785  272,897,575  273,567,998  266,114,772 
Effect of dilutive shares issued in an assumed conversion
 18,171,150  18,156,143  —  — 
Diluted weighted average shares outstanding 291,876,935  291,053,718  273,567,998  266,114,772 
Earnings (Loss) Per Share
Basic
 $ 0.67  $ 1.05  $ (6.94) $ 0.50 
Diluted $ 0.64  $ 1.00  $ (6.94) $ 0.50 
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(1)If applicable, includes a nondiscretionary adjustment for the assumed change in the management fee calculation.