NET INCOME (LOSS) PER COMMON SHARE

3 Months Ended

Mar. 31, 2018

The following table presents a reconciliation of net income (loss) and shares used in calculating basic and diluted net income (loss) per share for the three months ended March 31, 2018 and 2017.



	For the Three Months Ended
	March 31, 2018			March 31, 2017
	(dollars in thousands, except per share data)
Net income (loss)	$	1,327,704		$	440,408
Net income (loss) attributable to noncontrolling interest	(96		)	(103		)
Net income (loss) attributable to Annaly	1,327,800			440,511
Dividends on preferred stock	33,766			23,473
Net income (loss) available (related) to common stockholders	$	1,294,034		$	417,038
Weighted average shares of common stock outstanding-basic	1,159,617,848			1,018,942,746
Add: Effect of stock awards, if dilutive	485,337			364,633
Weighted average shares of common stock outstanding-diluted	1,160,103,185			1,019,307,379
Net income (loss) per share available (related) to common share:
Basic	$	1.12		$	0.41
Diluted	$	1.12		$	0.41

Options to purchase 0.8 million and 1.1 million shares of common stock were outstanding and considered anti-dilutive as their exercise price and option expense exceeded the average stock price for the three months ended March 31, 2018 and 2017, respectively.