Earnings Per Share

6 Months Ended

Jun. 30, 2019

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):



	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Numerator for basic and diluted earnings
per share - net income (loss) attributable
to common stockholders	$	137,762	$	154,432	$	418,232	$	592,103

Denominator for basic earnings per
share - weighted average shares	404,607		371,640		398,073		371,552
Effect of dilutive securities:
Employee stock options	—		14		1		15
Non-vested restricted shares	955		325		911		523
Redeemable shares	1,096		1,096		1,096		1,096
Employee stock purchase program	15		—		15		—
Dilutive potential common shares	2,066		1,435		2,023		1,634
Denominator for diluted earnings per
share - adjusted weighted average shares	406,673		373,075		400,096		373,186

Basic earnings per share	$	0.34	$	0.42	$	1.05	$	1.59
Diluted earnings per share	$	0.34	$	0.41	$	1.05	$	1.59

The Series I Cumulative Convertible Perpetual Preferred Stock were excluded from the 2018 calculation as the effect of the conversions were anti-dilutive. As of June 30, 2019, forward sales agreements outstanding for the sale of 2,194,575 shares of common stock were not included in the computation of diluted earnings per share because such forward sales were anti-dilutive for the period.