Earnings Per Share

6 Months Ended

Jun. 30, 2019

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. Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):



	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Net income	$	85,520		$	79,871		$	136,774		$	228,840
Net income attributable to noncontrolling interests	(1,711		)	(1,582		)	(3,299		)	(3,727		)
Net income attributable to common shareholders - basic	83,809			78,289			133,475			225,113
Income attributable to operating partnership units	528			528			1,056			1,056
Net income attributable to common shareholders - diluted	$	84,337		$	78,817		$	134,531		$	226,169
Denominator:
Weighted average shares outstanding – basic	127,856			127,505			127,807			127,714
Effect of dilutive securities:
Share options and awards	847			813			841			799
Operating partnership units	1,432			1,432			1,432			1,432
Weighted average shares outstanding – diluted	130,135			129,750			130,080			129,945

For both the three and six months ended June 30, 2019 and 2018, we had no anti-dilutive securities of our common shares, which are excluded from the calculation of earnings per common share – diluted.