XML 26 R29.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
EARNINGS PER SHARE (Tables)
 12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Reconciliation of Numerator and Denominator Used To Calculate Basic and Diluted Earnings per Share
The following table presents a reconciliation of the numerator and denominator used to calculate basic and diluted earnings per share reported in the consolidated financial statements for the year ended December 31, 2019, the transition period ended December 31, 2018, and the fiscal years ended April 30, 2018 and 2017:
 
 
(in thousands, except per share data)
 
 
For Year Ended
 
For Period Ended
 
For Year Ended
 
 
December 31, 2019

 
December 31, 2018

 
April 30, 2018

April 30, 2017

NUMERATOR
 
 
 
 

 
 

 

Income (loss) from continuing operations – controlling interests
 
$
78,669

 
$
(4,908
)
 
$
(30,266
)
$
(24,473
)
Income (loss) from discontinued operations – controlling interests
 
—

 
510

 
147,054

67,820

Net income (loss) attributable to controlling interests
 
78,669

 
(4,398
)
 
116,788

43,347

Dividends to preferred shareholders
 
(6,821
)
 
(4,547
)
 
(8,569
)
(10,546
)
Redemption of preferred shares
 
—

 
—

 
(3,657
)
(1,435
)
Numerator for basic earnings per share – net income available to common shareholders
 
71,848

 
(8,945
)
 
104,562

31,366

Noncontrolling interests – Operating Partnership
 
6,752

 
(1,032
)
 
12,702

4,059

Dividends to preferred unitholders
 
537

 
—

 
—

—

Numerator for diluted earnings (loss) per share
 
$
79,137

 
$
(9,977
)
 
$
117,264

$
35,425

DENOMINATOR
 
 
 
 

 
 

 

Denominator for basic earnings per share weighted average shares
 
11,744

 
11,937

 
11,998

12,117

Effect of redeemable operating partnership units
 
1,237

 
1,387

 
1,462

1,613

Effect of Series D preferred units
 
193

 
—

 
—

—

Effect of diluted restricted stock awards and restricted stock units
 
8

 
—

 
—

—

Denominator for diluted earnings per share
 
13,182

 
13,324

 
13,460

13,730

 
 
 
 
 
 
 
 
Earnings (loss) per common share from continuing operations – basic
 
$
6.06

 
$
(0.79
)
 
$
(3.54
)
$
(3.01
)
Earnings (loss) per common share from discontinued operations – basic
 
—

 
0.04

 
12.25

5.59

NET EARNINGS (LOSS) PER COMMON SHARE – BASIC
 
$
6.06

 
$
(0.75
)
 
$
8.71

$
2.58

 
 
 
 
 
 
 
 
Earnings (loss) per common share from continuing operations – diluted
 
$
6.00

 
$
(0.79
)
 
$
(3.54
)
$
(3.01
)
Earnings (loss) per common share from discontinued operations – diluted
 
—

 
0.04

 
12.25

5.59

NET EARNINGS (LOSS) PER COMMON SHARE – DILUTED
 
$
6.00

 
$
(0.75
)
 
$
8.71

$
2.58