| Basic and Diluted Net Income per Share of Common Stock Using Two-Class Method |
The table below presents the computation of basic and diluted net income per share of common stock for the three and nine months ended September 30, 2022 and 2021 ($ in thousands except per share data): | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | 2022 | | 2021 | | 2022 | | 2021 | | Basic Earnings | | | | | | | | | Net income | $ | 183,030 | | | $ | 60,392 | | | $ | 269,219 | | | $ | 186,418 | | | Less: Preferred dividends | (3,068) | | | (3,126) | | | (9,204) | | | (9,896) | | | Net income available to common stockholders | $ | 179,962 | | | $ | 57,266 | | | $ | 260,015 | | | $ | 176,522 | | | Less: Dividends on participating securities | (898) | | | (874) | | | (2,698) | | | (2,570) | | | Basic Earnings | $ | 179,064 | | | $ | 56,392 | | | $ | 257,317 | | | $ | 173,952 | | | | | | | | | | | Diluted Earnings | | | | | | | | | Basic Earnings | $ | 179,064 | | | $ | 56,392 | | | $ | 257,317 | | | $ | 173,952 | | | Add: Dividends on participating securities | 898 | | | 874 | | | 2,698 | | | 2,570 | | | Add: Interest expense on Convertible Notes | 5,684 | | | 8,277 | | | 20,608 | | | 24,783 | | | Diluted Earnings | $ | 185,646 | | | $ | 65,543 | | | $ | 280,623 | | | $ | 201,305 | | | | | | | | | | | Number of Shares: | | | | | | | | | Basic weighted-average shares of common stock outstanding | 140,594,987 | | | 139,891,777 | | | 140,513,957 | | | 139,860,882 | | | Diluted weighted-average shares of common stock outstanding | 164,350,132 | | | 170,884,172 | | | 169,252,602 | | | 170,836,682 | | | | | | | | | | | Earnings Per Share Attributable to Common Stockholders | | | | | | | | | Basic | $ | 1.27 | | | $ | 0.40 | | | $ | 1.83 | | | $ | 1.24 | | | Diluted | $ | 1.13 | | | $ | 0.38 | | | $ | 1.66 | | | $ | 1.18 | |
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