| 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) | | | | | 2021 | | 2020 | | Numerator: | | | | | | | | | Net income/(loss) | | | | | $ | 71,938 | | | $ | (16,687) | | | Preferred stock dividends | | | | | 3,779 | | | 2,438 | | | Net income/(loss) available to common stockholders | | | | | $ | 68,159 | | | $ | (19,125) | | | Denominator: | | | | | | | | | Denominator for basic earnings per share—weighted average shares | | | | | 50,513,277 | | | 50,373,580 | | | Effect of employee stock-based awards(1) | | | | | 556,234 | | | 101,222 | | | | | | | | | | Denominator for dilutive earnings per share—adjusted weighted average shares and assumed conversions | | | | | 51,069,511 | | | 50,474,802 | | | Basic earnings/(loss) per common share | | | | | $ | 1.35 | | | $ | (0.38) | | | Diluted earnings/(loss) per common share | | | | | $ | 1.33 | | | $ | (0.38) | |
(1)SARs and RSUs outstanding of 80,263 at March 31, 2021 and 428,007 at March 31, 2020 have not been included in diluted earnings/(loss) per share because to do so would have been antidilutive for the periods presented.
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