Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.23.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table presents a reconciliation of the (loss) earnings and shares used in calculating basic and diluted (loss) earnings per share for the three months ended March 31, 2023 and 2022. All per share amounts, common shares outstanding and common equity-based awards for all periods presented have been adjusted on a retroactive basis to reflect the reverse stock split.
Three Months Ended
March 31,
(in thousands, except share data) 2023 2022
Basic (Loss) Earnings Per Share:
Net (loss) income $ (176,808) $ 285,270 
Dividends on preferred stock (12,365) (13,747)
Dividends and undistributed earnings allocated to participating restricted stock units
 (382) (1,293)
Net (loss) income attributable to common stockholders, basic
 $ (189,555) $ 270,230 
Basic weighted average common shares
 92,575,840  85,999,628 
Basic (loss) earnings per weighted average common share
 $ (2.05) $ 3.14 
Diluted (Loss) Earnings Per Share:
Net (loss) income attributable to common stockholders, basic
 $ (189,555) $ 270,230 
Reallocation impact of undistributed earnings to participating restricted stock units
 —  83 
Interest expense attributable to convertible notes —  5,042 
Net (loss) income attributable to common stockholders, diluted
 $ (189,555) $ 275,355 
Basic weighted average common shares
 92,575,840  85,999,628 
Effect of dilutive shares issued in an assumed vesting of performance share units
 —  113,373 
Effect of dilutive shares issued in an assumed conversion
 —  10,092,550 
Diluted weighted average common shares 92,575,840  96,205,551 
Diluted (loss) earnings per weighted average common share
 $ (2.05) $ 2.86 
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(1)If applicable, includes a nondiscretionary adjustment for the assumed change in the management fee calculation.