Earnings Per Share

Earnings per common share – basic is computed using net income attributable to common shareholders and the weighted average number of shares outstanding – basic. Earnings per common share – diluted includes the effect of potentially dilutive securities. Income from continuing operations attributable to common shareholders includes gain on sale of property in accordance with Securities and Exchange Commission guidelines. Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2017			2016			2017			2016
Numerator:
Income from continuing operations	$	35,894		$	39,229		$	93,496		$	139,357
Gain on sale of property	38,579			22,108			86,566			68,298
Net income attributable to noncontrolling interests	(1,844		)	(9,436		)	(12,755		)	(12,864		)
Net income attributable to common shareholders - basic	72,629			51,901			167,307			194,791
Income attributable to operating partnership units	515			499			1,567			1,497
Net income attributable to common shareholders - diluted	$	73,144		$	52,400		$	168,874		$	196,288
Denominator:
Weighted average shares outstanding – basic	127,801			127,304			127,734			125,569
Effect of dilutive securities:
Share options and awards	844			1,022			877			1,100
Operating partnership units	1,432			1,462			1,450			1,462
Weighted average shares outstanding – diluted	130,077			129,788			130,061			128,131

Anti-dilutive securities of our common shares, which are excluded from the calculation of earnings per common share – diluted, are as follows (in thousands):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2017	2016	2017	2016
Share options ⁽¹⁾	207	460	—	460

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(1)	Exclusion results as exercise prices were greater than the average market price for each respective period.