Earnings Per Share ("EPS") and Earnings Per Unit ("EPU") (Tables)

9 Months Ended

Sep. 30, 2020

Summary of calculation of numerator and denominator in basic and diluted earnings per share

Summaries of the numerator and denominator for purposes of basic and diluted EPS calculations are set forth below (in thousands, except per share data):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Net (loss) income attributable to COPT	$	(31,845)	$	21,257	$	15,706	$	148,907
Income attributable to share-based compensation awards	(145)		(123)		(365)		(495)
Numerator for basic EPS on net (loss) income attributable to COPT common shareholders	(31,990)		21,134		15,341		148,412

Redeemable noncontrolling interests	—		—		—		100


Income attributable to share-based compensation awards	—		5		6		26
Numerator for diluted EPS on net (loss) income attributable to COPT common shareholders	$	(31,990)	$	21,139	$	15,347	$	148,538
Denominator (all weighted averages):
Denominator for basic EPS (common shares)	111,811		111,582		111,778		111,036


Dilutive effect of redeemable noncontrolling interests	—		—		—		123
Dilutive effect of share-based compensation awards	—		361		278		313
Denominator for diluted EPS (common shares)	111,811		111,943		112,056		111,472
Basic EPS	$	(0.29)	$	0.19	$	0.14	$	1.34
Diluted EPS	$	(0.29)	$	0.19	$	0.14	$	1.33

Summaries of the numerator and denominator for purposes of basic and diluted EPU calculations are set forth below (in thousands, except per unit data):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:
Net (loss) income attributable to COPLP	$	(32,154)	$	21,681	$	16,122	$	151,257
Preferred unit distributions	(77)		(157)		(231)		(487)
Income attributable to share-based compensation awards	(119)		(139)		(374)		(592)
Numerator for basic EPU on net (loss) income attributable to COPLP common unitholders	(32,350)		21,385		15,517		150,178
Redeemable noncontrolling interests	—		—		—		100

Income attributable to share-based compensation awards	—		5		—		26

Numerator for diluted EPU on net (loss) income attributable to COPLP common unitholders	$	(32,350)	$	21,390	$	15,517	$	150,304
Denominator (all weighted averages):
Denominator for basic EPU (common units)	113,051		112,894		113,013		112,359

Dilutive effect of redeemable noncontrolling interests	—		—		—		123
Dilutive effect of share-based compensation awards	—		361		278		313

Denominator for diluted EPU (common units)	113,051		113,255		113,291		112,795
Basic EPU	$	(0.29)	$	0.19	$	0.14	$	1.34
Diluted EPU	$	(0.29)	$	0.19	$	0.14	$	1.33

Schedule of securities excluded from computation of diluted earnings per share

Our diluted EPS computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPS for the respective periods (in thousands):


	Weighted Average Shares Excluded from Denominator
	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2020	2019	2020	2019
Conversion of common units	1,240	1,312	1,235	1,323
Conversion of redeemable noncontrolling interests	973	975	954	893
Conversion of Series I preferred units	176	176	176	176

Our diluted EPU computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPU for the respective periods (in thousands):


	Weighted Average Shares Excluded from Denominator
	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2020	2019	2020	2019
Conversion of redeemable noncontrolling interests	973	975	954	893
Conversion of Series I preferred units	176	176	176	176