| Schedule of Computation of Basic and Dilutive Earnings (Loss) Per Common Share |
The following table presents the computation of basic and diluted earnings (loss) per common share for the periods indicated (dollar and share amounts in thousands, except per share amounts):
| | | | | | | | | | | | | | | | | | | | | | | For the Years Ended December 31, | | | 2025 | | 2024 | | 2023 | Basic Earnings (Loss) per Common Share: | | | | | | | Net income (loss) attributable to Company | | $ | 149,048 | | | $ | (62,029) | | | $ | (48,665) | | | Less: Preferred Stock dividends | | (47,942) | | | (41,756) | | | (41,837) | | | Plus: Gain on repurchase of Preferred Stock | | — | | | — | | | 467 | | | | | | | | | Net income (loss) attributable to Company’s common stockholders | | $ | 101,106 | | | $ | (103,785) | | | $ | (90,035) | | Basic weighted average common shares outstanding | | 90,427 | | | 90,815 | | | 91,042 | | Basic Earnings (Loss) per Common Share | | $ | 1.12 | | | $ | (1.14) | | | $ | (0.99) | | | | | | | | | Diluted Earnings (Loss) per Common Share: | | | | | | | Net income (loss) attributable to Company | | $ | 149,048 | | | $ | (62,029) | | | $ | (48,665) | | | Less: Preferred Stock dividends | | (47,942) | | | (41,756) | | | (41,837) | | | Plus: Gain on repurchase of Preferred Stock | | — | | | — | | | 467 | | | | | | | | | | | | | | | | Net income (loss) attributable to Company’s common stockholders | | $ | 101,106 | | | $ | (103,785) | | | $ | (90,035) | | Weighted average common shares outstanding | | 90,427 | | | 90,815 | | | 91,042 | | | | | | | | | Net effect of assumed PSUs vested | | 768 | | | — | | | — | | Net effect of assumed RSUs and DSUs vested | | 315 | | | — | | | — | | Diluted weighted average common shares outstanding | | 91,510 | | | 90,815 | | | 91,042 | | Diluted Earnings (Loss) per Common Share | | $ | 1.10 | | | $ | (1.14) | | | $ | (0.99) | |
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