Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.19.3.a.u2
Earnings Per Share
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic earnings (loss) per share is computed by dividing income available to common stockholders by the weighted average number of shares outstanding for the periods presented. The calculation of diluted earnings per share includes the potential dilutive impact of non-vested restricted shares outstanding during the periods presented, as calculated using the treasury stock method, unless their effect is anti-dilutive. The following table sets forth the computation of basic and diluted earnings per share:
 
Years Ended December 31,
 
 
2019
 
2018
 
2017
 
 
(In thousands, except per share amounts)
Net income
 

$67,928

 

$300,360

 

$120,424

Preferred stock dividends
 
(3,997
)
 
(7,295
)
 
(7,295
)
Loss on redemption of preferred stock
 
(8,304
)
 
—

 
—

Income available to common stockholders
 

$55,627

 

$293,065

 

$113,129


 
 
 
 
 
 
Basic weighted average common shares outstanding
 
233,140

 
216,941

 
201,526

Dilutive impact of restricted stock
 
410

 
655

 
576

Diluted weighted average common shares outstanding
 
233,550

 
217,596

 
202,102


 
 
 
 
 
 
Income Available to Common Stockholders Per Common Share
 
 
 
 
 
 
Basic
 

$0.24

 

$1.35

 

$0.56

Diluted
 

$0.24

 

$1.35

 

$0.56


 
 
 
 
 
 
Restricted stock (1)
 
998

 
89

 
16

 
(1)
Shares excluded from the diluted earnings per share calculation because their effect would be anti-dilutive.