| Schedule of Dividends Paid |
The table below summarized the dividends paid on the Company's common stock.
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Per Share |
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Total |
2018 |
|
|
(in thousands) |
Paid on August 14, 2018 |
$ |
0.125 |
|
|
$ |
5,595 |
|
Paid on November 15, 2018 |
0.125 |
|
|
5,606 |
|
Total cash dividends |
$ |
0.25 |
|
|
$ |
11,201 |
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| Schedule of Earnings Per Unit and Per Share |
A reconciliation of the components of pro forma basic and diluted loss per common share is presented in the table below:
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Year Ended |
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December 31, 2016 |
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(in thousands, except per share data) |
Pro Forma C Corporation Data (unaudited): |
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|
Net loss, as reported |
|
$ |
(92,453 |
) |
Taxes on income earned as a non-taxable entity (Note 15) |
|
15,224 |
|
Taxes due to change to C corporation (Note 15) |
|
53,089 |
|
Pro forma net loss |
|
$ |
(24,140 |
) |
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Basic loss per share: |
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Allocation of earnings: |
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Net loss |
|
$ |
(24,140 |
) |
Weighted average common shares outstanding |
|
43,107 |
|
Basic loss per share |
|
$ |
(0.56 |
) |
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|
Diluted loss per share: |
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|
Allocation of earnings: |
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|
Net loss |
|
$ |
(24,140 |
) |
Weighted average common shares, including dilutive effect (a)
|
|
43,107 |
|
Diluted loss per share |
|
$ |
(0.56 |
) |
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a. |
No incremental shares of potentially dilutive restricted stock awards were included as their effect was antidilutive under the treasury stock method.
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Year Ended December 31, |
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Weighted Average Shares Outstanding |
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Share Issuance at IPO (a)
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Conversion |
|
Weighted Average Units Outstanding |
2016 |
|
31,500,000 |
|
|
1,500,000 |
|
|
(30,000,000 |
) |
|
30,000,000 |
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a. |
Weighted average of 7,500,000 shares issued from the closing date of the IPO on October 19, 2016 to December 31, 2016.
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Year Ended December 31, |
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2018 |
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2017 |
|
2016 |
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(in thousands, except per share data) |
Basic earnings (loss) per share: |
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|
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Allocation of earnings: |
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|
|
|
|
Net income (loss) |
|
$ |
235,965 |
|
|
$ |
58,964 |
|
|
$ |
(92,453 |
) |
Weighted average common shares outstanding |
|
44,750 |
|
|
41,548 |
|
|
31,500 |
|
Basic earnings (loss) per share |
|
$ |
5.27 |
|
|
$ |
1.42 |
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|
$ |
(2.94 |
) |
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Diluted earnings (loss) per share: |
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|
|
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Allocation of earnings: |
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|
|
|
|
Net income (loss) |
|
$ |
235,965 |
|
|
$ |
58,964 |
|
|
$ |
(92,453 |
) |
Weighted average common shares, including dilutive effect (a)
|
|
45,021 |
|
|
41,639 |
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|
31,500 |
|
Diluted earnings (loss) per share |
|
$ |
5.24 |
|
|
$ |
1.42 |
|
|
$ |
(2.94 |
) |
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a. |
No incremental shares of potentially dilutive restricted stock awards were included for the year ended December 31, 2016 as their effect was antidilutive under the treasury stock method.
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