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Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

The following table details the Company’s calculation of earnings per share for the three years ended December 31, 2015, 2014 and 2013:

 

2015

 

 

2014

 

 

2013

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

51,620

 

 

$

56,361

 

 

$

(134,136

)

Less preferred stock dividends

 

(21,922

)

 

 

(21,922

)

 

 

(21,922

)

Net income (loss) available to common shareholders

$

29,698

 

 

$

34,439

 

 

$

(156,058

)

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares

 

96,665,489

 

 

 

96,603,634

 

 

 

98,337,362

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share

$

0.31

 

 

$

0.36

 

 

$

(1.59

)

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

51,620

 

 

$

56,361

 

 

$

(134,136

)

Less preferred stock dividends

 

(21,922

)

 

 

(21,922

)

 

 

(21,922

)

Net income (loss) available to common shareholders

$

29,698

 

 

$

34,439

 

 

$

(156,058

)

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares

 

96,665,489

 

 

 

96,603,634

 

 

 

98,337,362

 

Potential dilutive shares from exercise of stock options

 

-

 

 

 

-

 

 

 

-

 

Diluted weighted average shares

 

96,665,489

 

 

 

96,603,634

 

 

 

98,337,362

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share

$

0.31

 

 

$

0.36

 

 

$

(1.59

)