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Income (Loss) Per Share (Tables)
 6 Months Ended
Jun. 30, 2020
Earnings Per Share [Abstract]  
Schedule of Earnings (Loss) Per Share
The following table reconciles the amounts used in calculating basic and diluted income (loss) per share (in thousands, except per share amounts):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
Net income (loss) attributable to common stockholders – basic and diluted:
 
 
 
 
 
 
 
Net income (loss) attributable to the Company
$
(7,996
)
 
$
112

 
$
(185,636
)
 
$
822

Less: Dividends on preferred stock, declared and undeclared (1)
(7,940
)
 
(2,791
)
 
(15,815
)
 
(5,583
)
Less: Amortization of preferred stock discount
(795
)
 
(484
)
 
(1,605
)
 
(975
)
Undistributed net income (loss) allocated to common stockholders
(16,731
)
 
(3,163
)
 
(203,056
)
 
(5,736
)
Distributed and undistributed net income (loss) - basic
$
(16,731
)
 
$
(3,163
)
 
$
(203,056
)
 
$
(5,736
)
Effect of deferred compensation plan
—

 
(4,817
)
 
—

 
(4,077
)
Effect of incremental subsidiary shares
—

 
(171
)
 
—

 
(373
)
Distributed and undistributed net income (loss) - diluted
$
(16,731
)
 
$
(8,151
)
 
$
(203,056
)
 
$
(10,186
)
 
 
 
 
 
 
 
 
Weighted average common shares outstanding:
 
 
 
 
 
 
 
Weighted average common shares outstanding – basic
2,269

 
2,462

 
2,236

 
2,441

Effect of deferred compensation plan shares
—

 
203

 
—

 
101

Effect of incremental subsidiary shares
—

 
52

 
—

 
41

Weighted average common shares outstanding – diluted
2,269

 
2,717

 
2,236

 
2,583

 
 
 
 
 
 
 
 
Income (loss) per share – basic:
 
 
 
 
 
 
 
Net income (loss) allocated to common stockholders per share
$
(7.37
)
 
$
(1.28
)
 
$
(90.81
)
 
$
(2.35
)
Income (loss) per share – diluted:
 
 
 
 
 
 
 
Net income (loss) allocated to common stockholders per share
$
(7.37
)
 
$
(3.00
)
 
$
(90.81
)
 
$
(3.94
)
________
(1) 
As of June 30, 2020, the Company had aggregate undeclared preferred stock dividends of approximately $7.9 million. Undeclared dividends were deducted to arrive at net income attributable to common stockholders. See note 11.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
Due to their anti-dilutive effect, the computation of diluted income (loss) per share does not reflect the adjustments for the following items (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
Net income (loss) allocated to common stockholders is not adjusted for:
 
 
 
 
 
 
 
Net income (loss) attributable to redeemable noncontrolling interests in Ashford Holdings
(25
)
 
(6
)
 
(361
)
 
(10
)
Net income (loss) attributable to redeemable noncontrolling interests in subsidiary common stock
(619
)
 
(133
)
 
(723
)
 
94

Dividends on preferred stock, declared and undeclared
7,940

 
2,791

 
15,815

 
5,583

Amortization of preferred stock discount
795

 
484

 
1,605

 
975

Total
$
8,091

 
$
3,136

 
$
16,336

 
$
6,642

Weighted average diluted shares are not adjusted for:
 
 
 
 
 
 
 
Effect of unvested restricted shares
15

 
11

 
34

 
10

Effect of assumed exercise of stock options
—

 
16

 
—

 
40

Effect of assumed conversion of Ashford Holdings units
4

 
4

 
4

 
4

Effect of incremental subsidiary shares
561

 
72

 
481

 
59

Effect of assumed conversion of preferred stock
4,068

 
1,450

 
4,068

 
1,450

Total
4,648

 
1,553

 
4,587

 
1,563