Annual report pursuant to Section 13 and 15(d)

Earnings Per Share (Tables)

v3.8.0.1
Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2017
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:
(share amounts in thousands)
 
For the Year Ended December 31,
 
 
2017
 
2016
 
2015
Net income (loss)
 
$
120,424

 
$
(91,813
)
 
$
(240,139
)
Preferred stock dividends
 
(7,295
)
 
(7,295
)
 
(7,895
)
Income (loss) available to common stockholders
 
$
113,129

 
$
(99,108
)
 
$
(248,034
)

 
 
 
 
 
 
Weighted average shares outstanding
 
201,526

 
126,258

 
65,708

Dilutive impact of restricted stock
 
576

 
—

 
—

Weighted average shares outstanding for diluted income (loss) per share (a)
 
202,102

 
126,258

 
65,708


 
 
 
 
 
 
Basic income (loss) per share
 
$
0.56

 
$
(0.78
)
 
$
(3.77
)
Diluted income (loss) per share
 
$
0.56

 
$
(0.78
)
 
$
(3.77
)

 
 
 
 
 
 
Stock options (b)
 
—

 
15

 
15

Restricted stock (b)
 
16

 
—

 
126

(a)
Because the Company reported a loss available to common stockholders for the years ended December 31, 2016, and 2015, no unvested stock awards were included in computing loss per share because the effect was anti-dilutive.
(b)
Shares excluded from the diluted earnings per share calculation because their effect would be anti-dilutive.