XML 81 R32.htm IDEA: XBRL DOCUMENT v3.20.1
EPS Calculation (Tables)
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Schedule of reconciliation of the earnings and shares used in calculating basic and diluted EPS
The following table presents a reconciliation of the (loss)/earnings and shares used in calculating basic and diluted (loss)/earnings per share for the three months ended March 31, 2020 and 2019:
 
 
 
Three Months Ended
March 31,
(In Thousands, Except Per Share Amounts)
 
2020
 
2019
Basic (Loss)/Earnings per Share:
 
 
 
 
Net (loss)/income to common stockholders
 
$
(908,995
)
 
$
88,857

Dividends declared on preferred stock
 
(5,215
)
 
(3,750
)
Dividends, dividend equivalents and undistributed earnings allocated to participating securities
 
—

 
(256
)
Net (loss)/income to common stockholders - basic
 
$
(914,210
)
 
$
84,851

Basic weighted average common shares outstanding
 
452,979

 
450,358

Basic (Loss)/ Earnings per Share
 
$
(2.02
)
 
$
0.19

 
 
 
 
 
Diluted (Loss)/Earnings per Share:
 
 
 
 
Net (loss)/income to common stockholders - basic
 
$
(914,210
)
 
$
84,851

Interest expense on Convertible Senior Notes
 
—

 
—

Net (loss)/income to common stockholders - diluted
 
$
(914,210
)
 
$
84,851

Basic weighted average common shares outstanding
 
452,979

 
450,358

Effect of assumed Convertible Senior Notes conversion to common shares
 
—

 
—

Diluted weighted average common shares outstanding (1)
 
452,979

 
450,358

Diluted (Loss)/Earnings per Share
 
$
(2.02
)
 
$
0.19



(1)
At March 31, 2020, the Company had approximately 2.3 million equity instruments outstanding that were not included in the calculation of diluted EPS for the three months ended March 31, 2020, as their inclusion would have been anti-dilutive.  These equity instruments reflect RSUs (based on current estimate of expected share settlement amount) with a weighted average grant date fair value of $7.73. These equity instruments may have a dilutive impact on future EPS.