Earnings Per Share

6 Months Ended

Jun. 30, 2020

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Numerator for basic earnings per share - net income (loss) attributable to common stockholders	$	179,246	$	137,762	$	489,530	$	418,232


Adjustment for net income (loss) attributable to OP units	(1,366)		35		(2,754)		88
Numerator for diluted earnings per share	$	177,880	$	137,797	$	486,776	$	418,320

Denominator for basic earnings per share - weighted average shares	417,084		404,607		413,696		398,073
Effect of dilutive securities:
Employee stock options	—		—		—		1
Non-vested restricted shares	619		955		661		911
Redeemable OP units	1,396		1,096		1,396		1,096
Employee stock purchase program	22		15		22		15
Dilutive potential common shares	2,037		2,066		2,079		2,023
Denominator for diluted earnings per share - adjusted weighted average shares	419,121		406,673		415,775		400,096

Basic earnings per share	$	0.43	$	0.34	$	1.18	$	1.05
Diluted earnings per share	$	0.42	$	0.34	$	1.17	$	1.05