Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2021

Summary of Significant Accounting Policies

Schedule of contract assets and liabilities

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

	June 30,		December 31,
	2021		2020
	(unaudited)
Trade receivables, net (1)	$	12,841	$	8,110
Contract liabilities (2)	$	28,260	$	16,815

(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 per common share (unaudited and in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Numerator:
Net loss	$	(27,918)	$	(117,500)	$	(83,205)	$	(280,019)
Loss from consolidated joint venture attributable to noncontrolling interest		596		2,162		2,571		2,620
Preferred stock dividends and redemption charge		(7,795)		(3,207)		(11,002)		(6,414)
Distributions paid on unvested restricted stock compensation		—		—		—		(69)
Numerator for basic and diluted loss attributable to common stockholders	$	(35,117)	$	(118,545)	$	(91,636)	$	(283,882)
Denominator:
Weighted average basic and diluted common shares outstanding		215,113		214,225		214,778		217,631
Basic and diluted loss attributable to common stockholders per common share	$	(0.16)	$	(0.55)	$	(0.43)	$	(1.30)