Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.20.2
Earnings Per Share (Tables)
6 Months Ended
Jun. 30, 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 June 30, Six Months Ended June 30,
  2020 2019 2020 2019
(In thousands, except per share amounts)
Net income (loss) ($1,564,731)   $55,180    ($1,348,166)   $35,637   
Preferred stock dividends (1)
—    (1,823)   —    (3,647)  
Income (loss) available to common stockholders ($1,564,731)   $53,357    ($1,348,166)   $31,990   
       
Basic weighted average common shares outstanding 397,084    228,051    396,884    227,917   
Dilutive impact of restricted stock —    360    —    682   
Diluted weighted average common shares outstanding
397,084    228,411    396,884    228,599   
       
Income (Loss) Available to Common Stockholders Per Common Share
Basic ($3.94)   $0.23    ($3.40)   $0.14   
Diluted ($3.94)   $0.23    ($3.40)   $0.14   
       
Restricted stock (2)
9,066    641    9,169    498   

(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.