Earnings Per Share

The following table summarizes the Company’s computation of basic and diluted earnings per share (EPS) for the years ended December 31, 2018, 2017 and 2016 (amounts in thousands except per share information):



	Year Ended December 31, 2018
	Income (numerator)			Shares (denominator)	Per Share Amount
Basic EPS:
Income from continuing operations	$	266,983
Less: preferred dividend requirements	(24,142		)
Net income available to common shareholders	$	242,841		74,292	$	3.27
Diluted EPS:
Net income available to common shareholders	$	242,841		74,292
Effect of dilutive securities:
Share options	—			45
Net income available to common shareholders	$	242,841		74,337	$	3.27



	Year Ended December 31, 2017
	Income (numerator)			Shares (denominator)	Per Share Amount
Basic EPS:
Income from continuing operations	$	262,968
Less: preferred dividend requirements and redemption costs	(28,750		)
Net income available to common shareholders	$	234,218		71,191	$	3.29
Diluted EPS:
Net income available to common shareholders	$	234,218		71,191
Effect of dilutive securities:
Share options	—			63
Net income available to common shareholders	$	234,218		71,254	$	3.29



	Year Ended December 31, 2016
	Income (numerator)			Shares (denominator)	Per Share Amount
Basic EPS:
Income from continuing operations	$	224,982
Less: preferred dividend requirements	(23,806		)
Net income available to common shareholders	$	201,176		63,381	$	3.17
Diluted EPS:
Net income available to common shareholders	$	201,176		63,381
Effect of dilutive securities:
Share options	—			93
Net income available to common shareholders	$	201,176		63,474	$	3.17

The additional 2.1 million common shares for both years ended December 31, 2018 and 2017 and 2.0 million common shares for the year ended December 31, 2016, that would result from the conversion of the Company’s 5.75% Series C cumulative convertible preferred shares and the corresponding add-back of the preferred dividends declared on those shares are not included in the calculation of diluted earnings per share for the years ended December 31, 2018, 2017 and 2016, respectively, because the effect is anti-dilutive. The additional 1.6 million common shares that would result from the conversion of the Company’s 9.0% Series E cumulative convertible preferred shares and the corresponding add-back of the preferred dividends declared on those shares are not included in the calculation of diluted earnings per share for the years ended December 31, 2018, 2017 and 2016, because the effect is anti-dilutive.

The dilutive effect of potential common shares from the exercise of share options is included in diluted earnings per share for the years ended December 31, 2018, 2017 and 2016. However, options to purchase 26 thousand, 7 thousand and 72 thousand of common shares were outstanding at the end of 2018, 2017 and 2016, respectively, at per share prices ranging from $61.79 to $76.63 for both 2018 and 2017 and at a per share price of $61.79 for 2016, but were not included in the computation of diluted earnings per share because they were anti-dilutive.