Earnings Per Share ("EPS") (Tables)

6 Months Ended

Jun. 30, 2022

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 June 30,				For the Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Income from continuing operations	$	33,595	$	43,219	$	64,846	$	36,325
Income from continuing operations attributable to noncontrolling interests	(1,285)		(1,488)		(2,369)		(2,068)
Income from continuing operations attributable to share-based compensation awards for basic EPS	(92)		(134)		(204)		(247)
Numerator for basic EPS from continuing operations attributable to COPT common shareholders	32,218		41,597		62,273		34,010

Redeemable noncontrolling interests	(30)		(20)		(69)		7


Adjustment to income from continuing operations attributable to share-based compensation awards for diluted EPS	17		11		35		9
Numerator for diluted EPS from continuing operations attributable to COPT common shareholders	32,205		41,588		62,239		34,026
Discontinued operations	—		679		29,573		1,494
Discontinued operations attributable to noncontrolling interests	—		(9)		(421)		(19)
Income from discontinued operations attributable to share-based compensation awards for diluted EPS	—		(2)		(90)		3
Numerator for diluted EPS on net income attributable to COPT common shareholders	$	32,205	$	42,256	$	91,301	$	35,504

Denominator (all weighted averages):
Denominator for basic EPS (common shares)	112,082		111,974		112,052		111,931


Dilutive effect of redeemable noncontrolling interests	126		133		129		125
Dilutive effect of share-based compensation awards	429		297		427		280
Denominator for diluted EPS (common shares)	112,637		112,404		112,608		112,336

Basic EPS:
Income from continuing operations attributable to COPT common shareholders	$	0.29	$	0.37	$	0.55	$	0.30
Discontinued operations attributable to COPT common shareholders	—		0.01		0.26		0.02
Net income attributable to COPT common shareholders	$	0.29	$	0.38	$	0.81	$	0.32
Diluted EPS:
Income from continuing operations attributable to COPT common shareholders	$	0.29	$	0.37	$	0.55	$	0.30
Discontinued operations attributable to COPT common shareholders	—		0.01		0.26		0.02
Net income attributable to COPT common shareholders	$	0.29	$	0.38	$	0.81	$	0.32

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 June 30,		For the Six Months Ended June 30,
	2022	2021	2022	2021
Conversion of common units	1,476	1,262	1,430	1,254
Conversion of redeemable noncontrolling interests	863	776	835	799