Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Significant Accounting Policies

Schedule of contract assets and liabilities

Trade receivables and contract liabilities consisted of the following (in thousands):

	December 31,		December 31,
	2020		2019
Trade receivables, net (1)	$	8,110	$	21,201
Contract liabilities (2)	$	16,815	$	18,498

(1) Trade receivables are included in accounts receivable, net on the accompanying consolidated balance sheets.

(2) Contract liabilities consist of advance deposits and are included in either other current liabilities or other liabilities on the accompanying consolidated balance sheets.

Schedule of computation of basic and diluted (loss) earnings per common share

The following table sets forth the computation of basic and diluted (loss) earnings per common share (in thousands, except per share data):

	Year Ended		Year Ended		Year Ended
	December 31, 2020		December 31, 2019		December 31, 2018
Numerator:
Net (loss) income	$	(410,506)	$	142,793	$	259,059
Loss (income) from consolidated joint venture attributable to noncontrolling interest		5,817		(7,060)		(8,614)
Preferred stock dividends		(12,830)		(12,830)		(12,830)
Distributions paid on unvested restricted stock compensation		(69)		(901)		(814)
Undistributed income allocated to unvested restricted stock compensation		—		—		(422)
Numerator for basic and diluted (loss) income attributable to common stockholders	$	(417,588)	$	122,002	$	236,379
Denominator:
Weighted average basic and diluted common shares outstanding		215,934		225,681		225,924
Basic and diluted (loss) income attributable to common stockholders per common share	$	(1.93)	$	0.54	$	1.05