Earnings Per Share

9 Months Ended

Sep. 30, 2022

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2022 and 2021 (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Earnings per common share - basic:
Numerator:
Net income	$	80,769	$	54,136	$	143,096	$	111,507
Net income attributable to noncontrolling interests in CPLP from continuing operations	(26)		(9)		(38)		(20)
Net income attributable to other noncontrolling interests	(104)		(109)		(383)		(206)
Net income available to common stockholders	$	80,639	$	54,018	$	142,675	$	111,281

Denominator:
Weighted average common shares - basic	151,435		148,688		149,670		148,659


Net income per common share - basic	$	0.53	$	0.36	$	0.95	$	0.75

Earnings per common share - diluted:
Numerator:
Net income	$	80,769	$	54,136	$	143,096	$	111,507
Net income attributable to other noncontrolling interests	(104)		(109)		(383)		(206)
Net income available for common stockholders before allocation of net income attributable to noncontrolling interests in CPLP	$	80,665	$	54,027	$	142,713	$	111,301

Denominator:
Weighted average common shares - basic	151,435		148,688		149,670		148,659
Add:
Potential dilutive common shares - stock options	—		—		—		1
Potential dilutive common shares - restricted stock units, less shares assumed purchased at market price	235		59		251		58
Weighted average units of CPLP convertible into common shares	25		25		25		25
Weighted average common shares - diluted	151,695		148,772		149,946		148,743


Net income per common share - diluted	$	0.53	$	0.36	$	0.95	$	0.75

Anti-dilutive stock options represent stock options whose exercise price exceeds the average market value of the Company's stock and are excluded from the calculation of diluted earnings per share. There were no anti-dilutive stock options for the three and nine months ended September 30, 2022 and 2021. The treasury stock method resulted in no dilution related to the Forward Sales outstanding during the three and nine months ended September 30, 2022 under the Company's ATM program or from shares expected to be issued under the ESPP.