NET INCOME (LOSS) PER COMMON SHARE

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

NET INCOME (LOSS) PER COMMON SHARE

16.  NET INCOME (LOSS) PER COMMON SHARE

The following table presents a reconciliation of net income (loss) and shares used in calculating basic and diluted net income (loss) per share for the three and nine months ended September 30, 2020 and September 30, 2019.

	For the Three Months Ended				For the Nine Months Ended
	September 30, 2020		September 30, 2019		September 30, 2020		September 30, 2019
	(dollars in thousands, except per share data)
Net income (loss)	$	1,015,548	$	(747,169)	$	(1,768,407)	$	(3,372,833)
Net income (loss) attributable to noncontrolling interests	(126)		(110)		(28)		(294)
Net income (loss) attributable to Annaly	1,015,674		(747,059)		(1,768,379)		(3,372,539)
Dividends on preferred stock (1)	35,509		36,151		106,527		101,067
Net income (loss) available (related) to common stockholders	$	980,165	$	(783,210)	$	(1,874,906)	$	(3,473,606)
Weighted average shares of common stock outstanding-basic	1,404,202,695		1,453,359,211		1,419,645,475		1,436,204,582
Add: Effect of stock awards, if dilutive	165,605		—		—		—
Weighted average shares of common  stock outstanding-diluted	1,404,368,300		1,453,359,211		1,419,645,475		1,436,204,582
Net income (loss) per share available (related) to common share
Basic	$	0.70	$	(0.54)	$	(1.32)	$	(2.42)
Diluted	$	0.70	$	(0.54)	$	(1.32)	$	(2.42)

(1) The three months ended September 30, 2019 exclude cumulative and undeclared dividends of $0.3 million on the Company's Series I Preferred Stock as of June 30, 2019.

The computations of diluted net income (loss) per share available (related) to common share for the three and nine months ended September 30, 2020 excludes 0.5 million of potentially dilutive restricted stock units and 0.8 million of potentially dilutive restricted stock units and performance stock units because their effect would have been anti-dilutive.