NET INCOME (LOSS) PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Components of Computation of Basic and Diluted Net Income per Common Share

Components of the computation of basic and diluted net income (loss) per common share were as follows for the indicated periods (dollars in thousands, except per share amounts):

	Quarter Ended						Six Months Ended
	June 30						June 30
	2019			2018			2019			2018
Basic net income (loss) per common share
Numerator for basic net income (loss) per common share:
Net income (loss)	$	(63,460	)	$	12,988		$	(71,206	)	$	32,408
Preferred stock dividends		(4,842	)		(4,842	)		(9,684	)		(9,684	)
Earnings participation of unvested equity awards		(25	)		(28	)		(44	)		(60	)
	$	(68,327	)	$	8,118		$	(80,934	)	$	22,664
Denominator for basic net income (loss) per common share:
Average number of shares of common stock outstanding		85,559			92,447			85,554			93,153
Average unvested stock awards outstanding		(625	)		(446	)		(640	)		(444	)
		84,934			92,001			84,914			92,709
	$	(0.80	)	$	0.09		$	(0.95	)	$	0.24
Diluted net income (loss) per common share
Numerator for diluted net income (loss) per common share	$	(68,327	)	$	8,118		$	(80,934	)	$	22,664
Denominator for diluted net income (loss) per common share:
Denominator for basic net income (loss) per common share		84,934			92,001			84,914			92,709
Net effect of dilutive equity awards		–			120			–			101
		84,934			92,121			84,914			92,810
	$	(0.80	)	$	0.09		$	(0.95	)	$	0.24