Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.19.1
Earnings Per Share
3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

Basic earnings (loss) per share is computed by dividing income (loss) available to common stockholders by the weighted average number of shares outstanding for the periods presented. The calculation of diluted earnings (loss) 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:
(share amounts in thousands)
Three Months Ended March 31,
 
2019
 
2018
Net income (loss)
$
(19,543
)
 
$
55,761

Preferred stock dividends
(1,824
)
 
(1,824
)
Income (loss) available to common stockholders
$
(21,367
)
 
$
53,937

 
 
 
 
Weighted average common shares outstanding
227,784

 
201,921

Dilutive impact of restricted stock

 
667

Weighted average common shares outstanding for diluted income per share
227,784

 
202,588

 
 
 
 
Basic income per share
$
(0.09
)
 
$
0.27

Diluted income per share
$
(0.09
)
 
$
0.27

 
 
 
 
Restricted stock (a)
356

 
3


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