Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.19.2
Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2019
Earnings Per Share [Abstract]  
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, 2019 and 2018:
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
(in thousands, except share data)
2019
 
2018
 
2019
 
2018
Numerator:
 
 
 
 
 
 
 
Net (loss) income
$
(90,557
)
 
$
139,490

 
$
(116,492
)
 
$
474,299

Dividends on preferred stock
18,950

 
13,747

 
37,900

 
27,494

Net (loss) income attributable to common stockholders - basic
(109,507
)
 
125,743

 
(154,392
)
 
446,805

Interest expense attributable to convertible notes (1)
—

 
4,689

 
—

 
9,390

Net (loss) income attributable to common stockholders - diluted
$
(109,507
)
 
$
130,432

 
$
(154,392
)
 
$
456,195

Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding
271,649,923

 
173,789,898

 
261,405,737

 
173,671,942

Weighted average restricted stock shares
1,213,230

 
1,662,091

 
1,261,423

 
1,627,880

Basic weighted average shares outstanding
272,863,153

 
175,451,989

 
262,667,160

 
175,299,822

Effect of dilutive shares issued in an assumed conversion
—

 
17,760,888

 
—

 
17,716,971

Diluted weighted average shares outstanding
272,863,153

 
193,212,877

 
262,667,160

 
193,016,793

(Loss) Earnings Per Share
 
 
 
 
 
 
 
Basic
$
(0.40
)
 
$
0.72

 
$
(0.59
)
 
$
2.55

Diluted
$
(0.40
)
 
$
0.68

 
$
(0.59
)
 
$
2.36


___________________
(1)
Includes a nondiscretionary adjustment for the assumed change in the management fee calculation.