Earnings per share of QTS Realty Trust, Inc. (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Basic and Diluted Earnings Per Share

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


	Year Ended
	December 31,
	2019		2018		2017
Numerator:
Net income (loss)	$	31,665	$	(7,175)	$	1,457
Loss (income) attributable to noncontrolling interests		(374)		2,715		(175)
Preferred stock dividends		(28,180)		(16,666)		—
Earnings attributable to participating securities		(7,828)		(947)		(593)
Net income (loss) available to common stockholders after allocation of participating securities	$	(4,717)	$	(22,073)	$	689
Denominator:
Weighted average shares outstanding - basic		54,837		50,433		48,381
Effect of Class A partnership units		—		—		6,696
Effect of Class O units, TSR units and options to purchase Class A common stock on an "as if" converted basis		—		—		779
Weighted average shares outstanding - diluted		54,837		50,433		55,856

Basic net income (loss) per share	$	(0.09)	$	(0.44)	$	0.01

Diluted net income (loss) per share	$	(0.09)	$	(0.44)	$	0.01

Note: The calculations of basic and diluted net income (loss) per share above do not include the following number of Class A partnership units, Class O units, TSR units and options to purchase common stock on an "as if" converted basis, and the effects of Series B Convertible preferred stock on an “as if” converted basis as their respective inclusions would have been antidilutive:


	Year Ended
	December 31,
	2019		2018		2017
Class A Partnership units		6,671		6,653		—
Class O units, TSR units and options to purchase common stock on an "as if" converted basis		518		350		—
Series B Convertible preferred stock on an "as if" converted basis		6,729		3,484		—