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Earnings Per Share
3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table presents the computation of basic and diluted earnings per share:
 
 
Three months ended March 31,
(in thousands except share and per share data)
 
2020
 
2019
Numerator:
 
 
 
 
Net income/(loss)
 
$
(16,687
)
 
$
82,839

Preferred stock dividends
 
2,438

 
2,438

Net income/(loss) available to common stockholders
 
$
(19,125
)
 
$
80,401

Denominator:
 
 
 
 
Denominator for basic earnings per share—weighted average shares
 
50,373,580

 
50,229,797

Effect of employee stock-based awards(1)
 
101,222

 
115,602

Denominator for dilutive earnings per share—adjusted weighted average shares and assumed conversions
 
50,474,802

 
50,345,399

Basic earnings/(loss) per common share
 
$
(0.38
)
 
$
1.60

Diluted earnings/(loss) per common share
 
$
(0.38
)
 
$
1.60


(1)
SARs and RSUs outstanding of 428,007 at March 31, 2020 and 411,065 at March 31, 2019 have not been included in diluted earnings/(loss) per share because to do so would have been antidilutive for the periods presented.