Equity and Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2020

Equity and Earnings Per Common Share

Schedule of weighted average shares outstanding

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2019		2020		2019		2020
Basic weighted average number of shares outstanding		506,816		476,836		381,045		479,969
Add: Dilutive effect of restricted stock units		78		40		108		—
Add: Dilutive effect of Series A preferred stock		873		1,961		873		—
Diluted weighted average number of shares outstanding		507,767		478,837		382,026		479,969
Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share(1):
Restricted stock units		—		—		—		77
Preferred shares		—		—		—		1,961

⁽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 June 30,				Six Months Ended June 30,
(in thousands, except per share amounts)	2019		2020		2019		2020
Net income (loss)	$	69,274		88,441		78,922		(304,492)
Less preferred stock dividends		(139)		(137)		(168)		(275)
Net income (loss) available to common shareholders	$	69,135		88,304		78,754		(304,767)
Net income (loss) per share–basic	$	0.14		0.19		0.21		(0.63)
Net income (loss) per share–diluted	$	0.14		0.18		0.21		(0.63)
Weighted average common shares outstanding–basic		506,816		476,836		381,045		479,969
Weighted average common shares outstanding–diluted		507,767		478,837		382,026		479,969