Equity and Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2020

Equity and Earnings Per Common Share

Schedule of weighted average shares outstanding

	Three Months Ended March 31,
(in thousands)	2019		2020
Basic weighted average number of shares outstanding		253,877		483,103
Add: Dilutive effect of restricted stock units		300		—
Add: Dilutive effect of Series A preferred stock		726		—
Diluted weighted average number of shares outstanding		254,903		483,103
Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share(1):
Restricted stock units		—		98
Preferred shares		—		4,762

⁽¹⁾ The potential dilutive effects of these awards were excluded from the computation of earnings (loss) per common shares—assuming dilution because the inclusion of these awards would have been anti-dilutive.

Schedule of earnings per common share

	Three Months Ended March 31,
(in thousands, except per share amounts)	2019		2020
Net income (loss)	$	9,648		(392,933)
Less preferred stock dividends		(29)		(138)
Net income (loss) available to common shareholders	$	9,619		(393,071)
Net income (loss) per share–basic and diluted	$	0.04		(0.81)
Weighted average common shares outstanding–basic		253,877		483,103
Weighted average common shares outstanding–diluted		254,903		483,103