Equity and Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2022

Equity and Earnings Per Common Share

Schedule of weighted average shares outstanding

	Year Ended December 31,
(in thousands)	2020		2021		2022
Basic weighted average number of shares outstanding		478,278		477,270		478,232
Add: Dilutive effect of RSUs		—		1,201		1,050
Add: Dilutive effect of PSUs		—		232		91
Add: Dilutive effect of Series A Preferred Stock		—		1,033		927
Diluted weighted average number of shares outstanding		478,278		479,736		480,300
Weighted average number of outstanding equity awards excluded from calculation of diluted earnings per common share (1):
RSUs		1,812		258		—
PSUs		148		—		—
Series A Preferred Shares		1,297		—		—

(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

		Year Ended December 31,
(in thousands, except per share amounts)	2020		2021		2022
Net income (loss)	$	(122,527)		331,617		326,242
Less preferred stock dividends		(550)		(550)		(550)
Net income (loss) available to common shareholders	$	(123,077)		331,067		325,692
Net income (loss) per share–basic	$	(0.26)		0.69		0.68
Net income (loss) per share–diluted	$	(0.26)		0.69		0.68
Weighted average common shares outstanding–basic		478,278		477,270		478,232
Weighted average common shares outstanding–diluted		478,278		479,736		480,300