Earnings Per Common Share (Unit)

6 Months Ended

Jun. 30, 2024

Basic earnings per common share (unit) is computed by dividing net income attributable to common stockholders (unitholders) by the weighted average number of shares of Host Inc. common stock or Host L.P. common units outstanding. Diluted earnings per common share (unit) is computed by dividing net income attributable to common stockholders (unitholders), as adjusted for potentially dilutive securities, by the weighted average number of shares of Host Inc. common stock or Host L.P. common units outstanding plus other potentially dilutive securities. Dilutive securities may include shares granted under comprehensive stock plans or the Host L.P. common units distributed to Host Inc. to support such shares granted, and other non-controlling interests that have the option to convert their limited partner interests to Host L.P. common units. No effect is shown for any securities that are anti-dilutive. There are 9.4 million Host L.P. common units, which are convertible into 9.6 million Host Inc. common shares, that are not included in Host Inc.’s calculation of earnings per share as their effect is not dilutive. The calculation of Host Inc. basic and diluted earnings per common share is shown below (in millions, except per share amounts):


	Quarter ended June 30,				Year-to-date ended June 30,
	2024		2023		2024		2023
Net income	$	242	$	214	$	514	$	505
Less: Net income attributable to non-controlling interests	(3)		(4)		(7)		(8)
Net income attributable to Host Inc.	$	239	$	210	$	507	$	497

Basic weighted average shares outstanding	704.3		711.3		704.2		712.3
Assuming distribution of common shares granted under the comprehensive stock plans, less shares assumed purchased at market	1.6		1.9		1.6		1.9
Diluted weighted average shares outstanding	705.9		713.2		705.8		714.2
Basic earnings per common share	$	0.34	$	0.30	$	0.72	$	0.70
Diluted earnings per common share	$	0.34	$	0.29	$	0.72	$	0.70

The calculation of Host L.P. basic and diluted earnings per unit is shown below (in millions, except per unit amounts):


	Quarter ended June 30,				Year-to-date ended June 30,
	2024		2023		2024		2023
Net income	$	242	$	214	$	514	$	505
Less: Net income attributable to non-controlling interests	—		(1)		—		(1)
Net income attributable to Host L.P.	$	242	$	213	$	514	$	504

Basic weighted average units outstanding	699.0		706.3		698.9		707.3
Assuming distribution of common units granted under the comprehensive stock plans, less units assumed purchased at market	1.5		1.8		1.5		1.8
Diluted weighted average units outstanding	700.5		708.1		700.4		709.1
Basic earnings per common unit	$	0.35	$	0.30	$	0.73	$	0.71
Diluted earnings per common unit	$	0.35	$	0.30	$	0.73	$	0.71