Earnings per Share

12 Months Ended

Dec. 31, 2016

11. Earnings per share of QTS Realty Trust, Inc.

Basic income per share is calculated by dividing the net income attributable to common shares by the weighted average number of common shares outstanding during the period. Diluted income per share adjusts basic income per share for the effects of potentially dilutive common shares.

The computation of basic and diluted net income per share is as follows (in thousands, except per share data):


	Year Ended
	December 31,
	2016		2015		2014
Numerator:
Net income available to common stockholders - basic	$	21,525	$	20,326	$	15,072
Effect of net income attributable to noncontrolling interests		3,160		3,803		4,031
Net income available to common stockholders - diluted	$	24,685	$	24,129	$	19,103
Denominator:
Weighted average shares outstanding - basic		46,206		37,568		29,055
Effect of Class A and Class RS partnership units *		6,783		7,029		7,770
Effect of Class O units and options to purchase Class A common stock on an "as if" converted basis *		973		756		309
Weighted average shares outstanding - diluted		53,962		45,353		37,134

Net income per share attributable to common stockholders - basic	$	0.47	$	0.54	$	0.52
Net income per share attributable to common stockholders - diluted	$	0.46	$	0.53	$	0.51

The Class A units, Class RS units and Class O units represent limited partnership interests in the Operating Partnership, and are described in more detail in Note 7

No securities were antidilutive for the years ended December 31, 2016, 2015 and 2014, and as such, no securities were excluded from the computation of diluted net income per share for those periods.