The following table provides a reconciliation of net income and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Three Months |
|
|
Six Months |
|
|
Ended June 30, |
|
|
Ended June 30, |
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Numerators – Basic and Diluted |
|
|
|
|
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|
|
|
|
|
|
Net income |
$ |
238,245 |
|
|
$ |
5,353 |
|
|
$ |
214,693 |
|
|
$ |
20,655 |
|
Income attributable to non-controlling interests |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(18 |
) |
Preferred dividends |
|
(2,789 |
) |
|
|
(2,789 |
) |
|
|
(5,578 |
) |
|
$ |
(5,578 |
) |
Earnings attributable to unvested shares and OP Units |
|
(138 |
) |
|
|
(88 |
) |
|
|
(269 |
) |
|
|
(195 |
) |
Net income attributable to common shareholders after
allocation to participating securities |
$ |
235,318 |
|
|
$ |
2,476 |
|
|
$ |
208,846 |
|
|
$ |
14,864 |
|
Denominators – Number of Shares |
|
|
|
|
|
|
|
|
|
|
|
Basic—Average shares outstanding |
|
209,553 |
|
|
|
209,266 |
|
|
|
209,486 |
|
|
|
209,616 |
|
Assumed conversion of dilutive securities—PRSUs |
|
723 |
|
|
|
181 |
|
|
|
767 |
|
|
|
445 |
|
Assumed conversion of dilutive securities—restricted stock units |
|
1,033 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Diluted—Average shares outstanding |
|
211,309 |
|
|
|
209,447 |
|
|
|
210,253 |
|
|
|
210,061 |
|
Earnings Per Share: |
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|
|
|
|
|
|
|
|
|
|
Basic |
$ |
1.12 |
|
|
$ |
0.01 |
|
|
$ |
1.00 |
|
|
$ |
0.07 |
|
Diluted |
$ |
1.11 |
|
|
$ |
0.01 |
|
|
$ |
0.99 |
|
|
$ |
0.07 |
|
|