Earnings Per Share

6 Months Ended

Jun. 30, 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				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Numerator:
Net income	$	12,377	$	85,520	$	66,625	$	136,774
Net income attributable to noncontrolling interests		(1,009)		(1,711)		(2,635)		(3,299)
Net income attributable to common shareholders – basic		11,368		83,809		63,990		133,475
Income attributable to operating partnership units		—		528		—		1,056
Net income attributable to common shareholders – diluted	$	11,368	$	84,337	$	63,990	$	134,531
Denominator:
Weighted average shares outstanding – basic		127,242		127,856		127,552		127,807
Effect of dilutive securities:
Share options and awards		861		847		899		841
Operating partnership units		—		1,432		—		1,432
Weighted average shares outstanding – diluted		128,103		130,135		128,451		130,080

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		Six Months Ended
	June 30,		June 30,
	2020	2019	2020	2019
Operating partnership units	1,432	—	1,432	—