TWO Annual report pursuant to Section 13 and 15(d)

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020


	Year Ended
	December 31,
(in thousands, except share data)		2020		2019		2018
Numerator:


Net (loss) income		$	(1,630,135)	$	323,962	(44,290)


Dividends on preferred stock		75,802		75,801		65,395
Net (loss) income attributable to common stockholders - basic		(1,705,937)		248,161		(109,685)
Interest expense attributable to convertible notes (1)		—		—		—
Net (loss) income attributable to common stockholders - diluted		$	(1,705,937)	$	248,161	(109,685)
Denominator:
Weighted average common shares outstanding		272,356,358		266,594,154		204,409,853
Weighted average restricted stock shares		1,244,589		1,232,585		1,610,649
Basic weighted average shares outstanding		273,600,947		267,826,739		206,020,502
Effect of dilutive shares issued in an assumed conversion		—		—		—
Diluted weighted average shares outstanding		273,600,947		267,826,739		206,020,502
(Loss) Earnings Per Share



Basic		$	(6.24)	$	0.93	$	(0.53)



Diluted		$	(6.24)	$	0.93	$	(0.53)

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(1)If applicable, includes a nondiscretionary adjustment for the assumed change in the management fee calculation.