Earnings per Share (Tables)
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9 Months Ended |
Sep. 30, 2018 |
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| Earnings Per Share [Abstract] |
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| Schedule of reconciliation of net income before noncontrolling interest to net income available for common stockholders |
The below table contains a reconciliation of net income before noncontrolling interest to net income available for common stockholders: | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | (in thousands) | | 2018 | | 2017 | | 2018 | | 2017 | Income (loss) before income taxes and noncontrolling interest | | $ | 29,425 |
| | $ | (46,495 | ) | | $ | 547,585 |
| | $ | (17,421 | ) | Provision for (benefit from) income taxes | | 13,815 |
| | (6,505 | ) | | 75,330 |
| | (2,918 | ) | Net income | | 15,610 |
| | (39,990 | ) | | 472,255 |
| | (14,503 | ) | | | | | | | | | | Noncontrolling interest | | (6,998 | ) | | 26,472 |
| | (263,682 | ) | | 6,466 |
| | | | | | | | | | Net income (loss) available for common stockholders | | $ | 8,612 |
| | $ | (13,518 | ) | | $ | 208,573 |
| | $ | (8,037 | ) |
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| Schedule of basic earnings per share |
The calculation of basic and diluted earnings per share is presented below: | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | (in thousands, except for share or per share data) | | 2018 | | 2017 | | 2018 | | 2017 | Basic earnings per share: | | | | | | | | | Net income (loss) available for common stockholders | | $ | 8,612 |
| | $ | (13,518 | ) | | $ | 208,573 |
| | $ | (8,037 | ) | | | | | | | | | | Less: Dividends and undistributed earnings allocated to participating securities | | (418 | ) | | (314 | ) | | (4,029 | ) | | (997 | ) | Net income (loss) available for common stockholders, net of dividends and undistributed earnings allocated to participating securities | | 8,194 |
| | (13,832 | ) | | 204,544 |
| | (9,034 | ) | | | | | | | | | | Weighted average shares of common stock outstanding: | | | | | | | | | Class A | | 106,692,034 |
| | 79,199,142 |
| | 99,038,084 |
| | 53,520,346 |
| | | | | | | | | | Basic earnings per share | | $ | 0.08 |
| | $ | (0.17 | ) | | $ | 2.07 |
| | $ | (0.17 | ) |
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| Schedule of diluted earnings per share |
| | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | (in thousands, except for share or per share data) | | 2018 | | 2017 | | 2018 | | 2017 | Diluted earnings per share: | | | | | | | | | Net income (loss) available for common stockholders, net of dividends and undistributed earnings allocated to participating securities | | $ | 8,194 |
| | $ | (13,832 | ) | | $ | 204,544 |
| | $ | (9,034 | ) | | | | | | | | | | Weighted average shares of common stock outstanding: | | | | | | | | | Class A | | | | | | | | | Issued and outstanding | | 106,692,034 |
| | 79,199,142 |
| | 99,038,084 |
| | 53,520,346 |
| Issuable pursuant to 2015 Management Incentive Plan (1) | | 436,172 |
| | — |
| | 1,430,776 |
| | — |
| | | 107,128,206 |
| | 79,199,142 |
| | 100,468,860 |
| | 53,520,346 |
| | | | | | | | | | Diluted earnings per share | | $ | 0.08 |
| | $ | (0.17 | ) | | $ | 2.04 |
| | $ | (0.17 | ) |
| | (1) | The dilutive impact of unexercised stock options excludes from the computation of EPS 1,578,617 and 1,704,307 options for the three and nine months ended September 30, 2017, respectively, because inclusion of the options would have been anti-dilutive. |
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