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NET INCOME (LOSS) PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Components of Computation of Basic and Diluted Net Income (loss) per Common Share The following table illustrates the computation of basic and diluted net income (loss) per common share for the indicated periods (dollars in thousands, except per share amounts). 

 

 

Year ended December 31

 

 

 

2020

 

 

2019

 

 

2018

 

Basic net income (loss) per common share

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$

(129,573

)

 

$

(35,338

)

 

$

50,072

 

Preferred stock dividends

 

 

(19,368

)

 

 

(19,368

)

 

 

(19,368

)

Earnings participation of unvested equity awards

 

 

(137

)

 

 

(100

)

 

 

(102

)

 

 

$

(149,078

)

 

$

(54,806

)

 

$

30,602

 

Denominator for basic net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Average number of shares of common stock outstanding

 

 

96,242

 

 

 

89,349

 

 

 

91,565

 

Average unvested stock awards outstanding

 

 

(750

)

 

 

(627

)

 

 

(451

)

 

 

 

95,492

 

 

 

88,722

 

 

 

91,114

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(1.56

)

 

$

(0.62

)

 

$

0.34

 

Diluted net income (loss) per common share

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic net income (loss) per common share

 

$

(149,078

)

 

$

(54,806

)

 

$

30,602

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic net income (loss) per common share

 

 

95,492

 

 

 

88,722

 

 

 

91,114

 

Net effect of dilutive equity awards

 

 

-

 

 

 

-

 

 

 

116

 

 

 

 

95,492

 

 

 

88,722

 

 

 

91,230

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(1.56

)

 

$

(0.62

)

 

$

0.34