| Schedule of Reconciliation of the (Loss)/Earnings and Shares used in Calculating Basic and Diluted EPS |
The following table presents a reconciliation of the earnings/(loss) and shares used in calculating basic and diluted earnings/(loss) per share for the three and six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | (In Thousands, Except Per Share Amounts) | | 2025 | | 2024 | | 2025 | | 2024 | | Basic Earnings/(Loss) per Share: | | | | | | | | | | Net income/(loss) to common stockholders | | $ | 33,184 | | | $ | 41,946 | | | $ | 74,360 | | | $ | 65,159 | | | Dividends declared on preferred stock | | (10,560) | | | (8,218) | | | (18,779) | | | (16,437) | | | Dividends, dividend equivalents and undistributed earnings allocated to participating securities | | (200) | | | (114) | | | (406) | | | (281) | | | Net income/(loss) attributable to common stockholders - basic | | $ | 22,424 | | | $ | 33,614 | | | $ | 55,175 | | | $ | 48,441 | | | Basic weighted average common shares outstanding | | 103,705 | | | 103,446 | | | 103,740 | | | 103,310 | | | Basic Earnings/(Loss) per Share | | $ | 0.22 | | | $ | 0.32 | | | $ | 0.53 | | | $ | 0.47 | | | | | | | | | | | | Diluted Earnings/(Loss) per Share: | | | | | | | | | | Net income/(loss) to common stockholders - basic | | $ | 22,424 | | | $ | 33,614 | | | $ | 55,175 | | | $ | 48,441 | | | Dividends, dividend equivalents and undistributed earnings allocated to participating securities | | — | | | — | | | — | | | — | | | Interest expense on Convertible Senior Notes | | — | | | — | | | — | | | — | | | Net income/(loss) attributable to common stockholders - diluted | | $ | 22,424 | | | $ | 33,614 | | | $ | 55,175 | | | $ | 48,441 | | | Basic weighted average common shares outstanding | | 103,705 | | | 103,446 | | | 103,740 | | | 103,310 | | | Unvested and vested restricted stock units | | 1,602 | | | 1,730 | | | 1,536 | | | 1,643 | | | Effect of assumed conversion of Convertible Senior Notes to common shares | | — | | | — | | | — | | | — | | Diluted weighted average common shares outstanding (1) | | 105,307 | | | 105,176 | | | 105,276 | | | 104,953 | | | Diluted Earnings/(Loss) per Share | | $ | 0.21 | | | $ | 0.32 | | | $ | 0.52 | | | $ | 0.46 | |
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