BENEFICIARIES' EQUITY OF THE PARENT COMPANY (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Earnings Per Share, Basic and Diluted

The following table details the number of shares and net income used to calculate basic and diluted earnings per share (in thousands, except share and per share amounts; results may not add due to rounding):


	Year Ended December 31,
	2023				2022				2021
	Basic		Diluted		Basic		Diluted		Basic		Diluted
Numerator
Net income (loss)	$	(197,403)	$	(197,403)	$	53,992	$	53,992	$	12,366	$	12,366
Net (income) loss attributable to noncontrolling interests	614		614		(168)		(168)		(77)		(77)
Nonforfeitable dividends allocated to unvested restricted shareholders	(567)		(567)		(456)		(456)		(421)		(421)


Net income (loss) attributable to common shareholders	$	(197,356)	$	(197,356)	$	53,368	$	53,368	$	11,868	$	11,868
Denominator
Weighted-average shares outstanding	171,959,210		171,959,210		171,491,369		171,491,369		170,878,185		170,878,185
Contingent securities/Share-based compensation	—		—		—		834,277		—		1,395,055
Weighted-average shares outstanding	171,959,210		171,959,210		171,491,369		172,325,646		170,878,185		172,273,240
Earnings (loss) per Common Share:
Net income (loss) attributable to common shareholders	$	(1.15)	$	(1.15)	$	0.31	$	0.31	$	0.07	$	0.07

The following table details the number of units and net income used to calculate basic and diluted earnings per common partnership unit (in thousands, except unit and per unit amounts; results may not add due to rounding):


	Year Ended December 31,
	2023				2022				2021
	Basic		Diluted		Basic		Diluted		Basic		Diluted
Numerator
Net income (loss)	$	(197,403)	$	(197,403)	$	53,992	$	53,992	$	12,366	$	12,366
Net loss attributable to noncontrolling interests	22		22		2		2		3		3
Nonforfeitable dividends allocated to unvested restricted unitholders	(567)		(567)		(456)		(456)		(421)		(421)


Net income (loss) attributable to common unitholders	$	(197,948)	$	(197,948)	$	53,538	$	53,538	$	11,948	$	11,948
Denominator
Weighted-average units outstanding	172,475,645		172,475,645		172,036,481		172,036,481		171,770,843		171,770,843
Contingent securities/Share-based compensation	—		—		—		834,277		—		1,395,055
Total weighted-average units outstanding	172,475,645		172,475,645		172,036,481		172,870,758		171,770,843		173,165,898
Earnings (loss) per Common Partnership Unit:
Net income (loss) attributable to common unitholders	$	(1.15)	$	(1.15)	$	0.31	$	0.31	$	0.07	$	0.07