Earnings Per Share

6 Months Ended

Jun. 30, 2021

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,
	2021		2020		2021		2020
Numerator:
Net income	$	14,441	$	12,377	$	44,320	$	66,625
Net income attributable to noncontrolling interests		(1,749)		(1,009)		(3,591)		(2,635)
Net income attributable to common shareholders – basic and diluted	$	12,692	$	11,368	$	40,729	$	63,990
Denominator:
Weighted average shares outstanding – basic		126,600		127,242		126,559		127,552
Effect of dilutive securities:
Share options and awards		1,039		861		1,096		899
Weighted average shares outstanding – diluted		127,639		128,103		127,655		128,451

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,
	2021	2020	2021	2020
Operating partnership units	1,409	1,432	1,419	1,432