Net Income Available to Common Stockholders Per Share of the Company

12 Months Ended

Dec. 31, 2020

Net Income Available to Common Stockholders Per Share of the Company

The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders for the years ended December 31, 2020, 2019 and 2018:


	Year Ended December 31,
	2020		2019		2018
	(in thousands, except unit and per unit amounts)
Numerator:
Net income attributable to common stockholders	$	187,105	$	195,443	$	258,415

Allocation to participating securities (1)	(2,229)		(2,119)		(2,004)
Numerator for basic and diluted net income available to common stockholders	$	184,876	$	193,324	$	256,411
Denominator:
Basic weighted average vested shares outstanding	113,241,341		103,200,568		99,972,359
Effect of dilutive securities	478,281		648,600		510,006
Diluted weighted average vested shares and common stock equivalents outstanding	113,719,622		103,849,168		100,482,365
Basic earnings per share:
Net income available to common stockholders per share	$	1.63	$	1.87	$	2.56
Diluted earnings per share:
Net income available to common stockholders per share	$	1.63	$	1.86	$	2.55

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(1)Participating securities include nonvested shares, certain time-based RSUs and vested market measure-based RSUs.

Share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. The impact of potentially dilutive common shares, including stock options, RSUs, shares issuable under executed forward equity sale agreements, if any, and other securities are considered in our diluted earnings per share calculation for the years ended December 31, 2020, 2019, and 2018. Certain market measure-based RSUs are not included in dilutive securities as of December 31, 2020, 2019, and 2018 as not all performance metrics had been met by the end of the applicable reporting periods.

See Note 15 “Share-Based and Other Compensation” for additional information regarding the stock options and other share-based compensation.