Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.22.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 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 months ended March 31, 2022 and 2021:
Three Months Ended
March 31,
(in thousands, except share data) 2022 2021
Basic Earnings Per Share:
Net income $ 285,270  $ 240,157 
Dividends on preferred stock 13,747  17,216 
Dividends and undistributed earnings allocated to participating restricted stock units
 1,293  257 
Net income attributable to common stockholders, basic
 $ 270,230  $ 222,684 
Basic weighted average common shares
 343,998,511  273,710,765 
Basic earnings per weighted average common share
 $ 0.79  $ 0.81 
Diluted Earnings Per Share:
Net income attributable to common stockholders, basic
 $ 270,230  $ 222,684 
Reallocation impact of undistributed earnings to participating restricted stock units
 83  14 
Interest expense attributable to convertible notes (1)
5,042  6,350 
Net income attributable to common stockholders, diluted
 $ 275,355  $ 229,048 
Basic weighted average common shares
 343,998,511  273,710,765 
Effect of dilutive shares issued in an assumed vesting of performance share units
 453,490  — 
Effect of dilutive shares issued in an assumed conversion
 40,370,201  37,754,295 
Diluted weighted average common shares 384,822,202  311,465,060 
Diluted earnings per weighted average common share
 $ 0.72  $ 0.74 
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(1)If applicable, includes a nondiscretionary adjustment for the assumed change in the management fee calculation.