Earnings per Share and Unit

Parent Company Earnings per Share

The following summarizes the calculation of basic and diluted earnings per share:



	Three months ended March 31,
(in thousands, except per share data)	2019		2018
Numerator:
Income from operations attributable to common stockholders - basic	$	90,446	52,660
Income from operations attributable to common stockholders - diluted	$	90,446	52,660
Denominator:
Weighted average common shares outstanding for basic EPS	167,440		170,704
Weighted average common shares outstanding for diluted EPS ⁽¹⁾	167,717		170,959

Income per common share – basic	$	0.54	0.31
Income per common share – diluted	$	0.54	0.31
⁽¹⁾ Includes the dilutive impact of unvested restricted stock using the treasury stock method.

Income allocated to noncontrolling interests of the Operating Partnership has been excluded from the numerator and exchangeable Operating Partnership units have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these amounts in the numerator and denominator would be anti-dilutive. Weighted average exchangeable Operating Partnership units outstanding for both the three months ended March 31, 2019 and 2018 were 349,902 for both periods.

Operating Partnership Earnings per Unit

The following summarizes the calculation of basic and diluted earnings per unit:



	Three months ended March 31,
(in thousands, except per share data)	2019		2018
Numerator:
Income from operations attributable to common unit holders - basic	$	90,636	52,771
Income from operations attributable to common unit holders - diluted	$	90,636	52,771
Denominator:
Weighted average common units outstanding for basic EPU	167,790		171,054
Weighted average common units outstanding for diluted EPU ⁽¹⁾	168,067		171,309

Income per common unit – basic	$	0.54	0.31
Income per common unit – diluted	$	0.54	0.31
⁽¹⁾ Includes the dilutive impact of unvested restricted stock using the treasury stock method.