Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.20.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share:
Three Months Ended March 31,
  2020 2019
(In thousands, except per share amounts)
Net income (loss) $216,565    ($19,543)  
Preferred stock dividends (1)
—    (1,824)  
Income (loss) available to common stockholders $216,565    ($21,367)  
         
Basic weighted average common shares outstanding 396,682    227,784   
Dilutive impact of restricted stock 154    —   
Diluted weighted average common shares outstanding 396,836    227,784   
         
Income (Loss) Available to Common Stockholders Per Common Share
Basic $0.55    ($0.09)  
Diluted $0.55    ($0.09)  
         
Restricted stock (2)
3,700    356   

(1) The Company redeemed all outstanding shares of its 10% Series A Cumulative Preferred Stock (“Preferred Stock”) on July 18, 2019 and all dividends ceased to accrue upon redemption.
(2) Shares excluded from the diluted earnings per share calculation because their effect would be anti-dilutive.