Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Summary of Significant Accounting Policies

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

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator:
Net income (loss)	$	20,488	$	(22,124)	$	73,303	$	(105,329)
(Income) loss from consolidated joint venture attributable to noncontrolling interest		—		(933)		(3,477)		1,638
Preferred stock dividends and redemption charges		(3,351)		(6,287)		(10,897)		(17,289)
Distributions paid to participating securities		(64)		—		(64)		—
Undistributed income allocated to participating securities		(40)		—		(301)		—
Numerator for basic and diluted income (loss) attributable to common stockholders	$	17,033	$	(29,344)	$	58,564	$	(120,980)
Denominator:
Weighted average basic common shares outstanding		211,010		217,709		213,799		215,765
Unvested restricted stock units		279		—		70		—
Weighted average diluted common shares outstanding		211,289		217,709		213,869		215,765
Basic income (loss) attributable to common stockholders per common share	$	0.08	$	(0.13)	$	0.27	$	(0.56)
Diluted income (loss) attributable to common stockholders per common share	$	0.08	$	(0.13)	$	0.27	$	(0.56)

Schedule of contract assets and liabilities

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

	September 30,		December 31,
	2022		2021
	(unaudited)
Trade receivables, net (1)	$	28,487	$	16,055
Contract liabilities (2)	$	51,648	$	40,226

(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.