Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 9. 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. Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):

	Three Months Ended
	March 31,
	2020		2019
Numerator:
Net income	$	54,248	$	51,254
Net income attributable to noncontrolling interests		(1,626)		(1,588)
Net income attributable to common shareholders – basic		52,622		49,666
Income attributable to operating partnership units		528		—
Net income attributable to common shareholders – diluted	$	53,150	$	49,666
Denominator:
Weighted average shares outstanding – basic		127,862		127,756
Effect of dilutive securities:
Share options and awards		943		834
Operating partnership units		1,432		—
Weighted average shares outstanding – diluted		130,237		128,590

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
	March 31,
	2020	2019
Operating partnership units	—	1,432