The Company calculates basic (loss) earnings per common share by dividing net (loss) income attributable to the Company's common stockholders for the period by weighted-average shares of common stock outstanding for that period. Diluted (loss) earnings per common share takes into account the effect of dilutive instruments, such as performance share units ("PSUs"), restricted stock units ("RSUs") and deferred stock units ("DSUs"), and the number of incremental shares that are to be added to the weighted-average number of shares outstanding.

During the three and nine months ended September 30, 2026, the PSUs, RSUs and DSUs awarded under the Company’s 2017 Equity Incentive Plan (as amended, the "2017 Plan") were determined to be anti-dilutive and were not included in the calculation of diluted loss per common share.

During the three and nine months ended September 30, 2025, certain of the PSUs, RSUs and DSUs awarded under the 2017 Plan were determined to be dilutive and were included in the calculation of diluted earnings per common share under the treasury stock method. Under this method, common equivalent shares are calculated assuming that outstanding PSUs, RSUs and DSUs vest according to the respective PSU, RSU and DSU agreements and unrecognized compensation cost is used to repurchase shares of the Company’s outstanding common stock at the average market price during the reported period.


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2026		2025		2026		2025
Basic (Loss) Earnings per Common Share:
Net (loss) income attributable to Company	$	(159,134)	$	44,820	$	(55,352)	$	95,522
Less: Preferred Stock dividends	(11,849)		(12,118)		(35,311)		(36,021)

Net (loss) income attributable to Company's common stockholders	$	(170,983)	$	32,702	$	(90,663)	$	59,501
Basic weighted average common shares outstanding	90,275		90,406		90,202		90,437
Basic (Loss) Earnings per Common Share	$	(1.89)	$	0.36	$	(1.01)	$	0.66

Diluted (Loss) Earnings per Common Share:
Net (loss) income attributable to Company	$	(159,134)	$	44,820	$	(55,352)	$	95,522
Less: Preferred Stock dividends	(11,849)		(12,118)		(35,311)		(36,021)

Net (loss) income attributable to Company's common stockholders	$	(170,983)	$	32,702	$	(90,663)	$	59,501
Weighted average common shares outstanding	90,275		90,406		90,202		90,437
Net effect of assumed PSUs vested	—		850		—		676
Net effect of assumed RSUs and DSUs vested	—		358		—		239
Diluted weighted average common shares outstanding	90,275		91,614		90,202		91,352
Diluted (Loss) Earnings per Common Share	$	(1.89)	$	0.36	$	(1.01)	$	0.65