NET INCOME (LOSS) PER COMMON SHARE

6 Months Ended

Jun. 30, 2019

16. NET INCOME (LOSS) PER COMMON SHARE

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 and six months ended June 30, 2019 and June 30, 2018.



	For the Three Months Ended						For the Six Months Ended
	June 30, 2019			June 30, 2018			June 30, 2019			June 30, 2018
	(dollars in thousands, except per share data)
Net income (loss)	$	(1,776,413	)	$	595,887		$	(2,625,664	)	$	1,923,591
Net income (loss) attributable to noncontrolling interests	(83		)	(32		)	(184		)	(128		)
Net income (loss) attributable to Annaly	(1,776,330		)	595,919			(2,625,480		)	1,923,719
Dividends on preferred stock ⁽¹⁾	32,422			31,377			64,916			65,143
Net income (loss) available (related) to common stockholders	$	(1,808,752	)	$	564,542		$	(2,690,396	)	$	1,858,576
Weighted average shares of common stock outstanding-basic	1,456,038,736			1,160,436,777			1,427,485,102			1,160,029,575
Add: Effect of stock awards, if dilutive	—			542,674			—			514,005
Weighted average shares of common stock outstanding-diluted	1,456,038,736			1,160,979,451			1,427,485,102			1,160,543,580
Net income (loss) per share available (related) to common share
Basic	$	(1.24	)	$	0.49		$	(1.88	)	$	1.60
Diluted	$	(1.24	)	$	0.49		$	(1.88	)	$	1.60


⁽¹⁾	The three and six months ended June 30, 2019 include cumulative and undeclared dividends of $0.3 million of the Company's Series I Preferred Stock as of June 30, 2019.

No options to purchase shares of common stock were outstanding for the three and six months ended June 30, 2019. Options to purchase 0.5 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 and six months ended June 30, 2018, respectively.