XML 115 R20.htm IDEA: XBRL DOCUMENT v3.19.3
Equity
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Equity
Equity
Common Stock
A summary of the changes in our common shares issued is detailed below.
 
 
Three Months Ended September 30,
 
Nine Months Ended, September 30,
 
 
2019
 
2018
 
2019
 
2018
 
 
(in thousands)
Beginning balance
 
1,634,486

 
913,271

 
913,716

 
908,733

Common shares issued for WildHorse Merger(a)
 
—

 
—

 
717,376

 
—

Exchange of convertible notes(b)
 
73,389

 
—

 
73,389

 
—

Exchange of senior notes(b)
 
235,564

 
—

 
235,564

 
—

Exchange of preferred stock(c)
 
10,368

 
—

 
10,368

 
—

Restricted stock issuances (net of forfeitures and cancellations)(d)
 
344

 
421

 
3,738

 
4,959

Ending balance
 
1,954,151

 
913,692

 
1,954,151

 
913,692

____________________________________________
(a)
See Note 3 for discussion of WildHorse Merger.
(b)
See Note 6 for discussion of debt exchanges.
(c)
In the Current Quarter, we exchanged 10,367,950 shares of common stock for 40,000 shares of our 5.75% (Series A) Cumulative Convertible Preferred Stock. In connection with the exchange, we recognized a loss equal to the excess of the fair value of all common stock issued in exchange for the preferred stock over the fair value of the common stock issuable pursuant to the original terms of the preferred stock. The loss of $17 million is reflected as a reduction to net income available to common stockholders for the purpose of calculating earnings per common share.
(d)
See Note 13 for discussion of restricted stock.
Preferred Stock
A summary of the changes in our outstanding shares of preferred stock is detailed below.
 
 
5.75%
 
5.75% (A)
 
4.50%
 
5.00%
(2005B)  
 
 
(in thousands)
Shares outstanding as of July 1, 2019
 
770

 
463

 
2,559

 
1,811

Exchange of preferred stock(a)
 
—

 
(40
)
 
—

 
—

Shares outstanding as of September 30, 2019
 
770

 
423

 
2,559

 
1,811

 
 
 
 
 
 
 
 
 
Shares outstanding as of July 1, 2018
and September 30, 2018
 
770

 
463

 
2,559

 
1,811

 
 
 
 
 
 
 
 
 
Shares outstanding as of January 1, 2019
 
770

 
463

 
2,559

 
1,811

Exchange of preferred stock(a)
 
—

 
(40
)
 
—

 
—

Shares outstanding as of September 30, 2019
 
770

 
423

 
2,559

 
1,811

 
 
 
 
 
 
 
 
 
Shares outstanding as of January 1, 2018
and September 30, 2018
 
770

 
463

 
2,559

 
1,811

 
 
 
 
 
 
 
 
 
Liquidation price per share
 
$
1,000

 
$
1,000

 
$
100

 
$
100

____________________________________________
(a)
See discussion above regarding the exchange of our 5.75% (Series A) Cumulative Convertible Preferred Stock in the Current Quarter.