Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of computations of basic and diluted EPS

The presentation of basic EPS on the face of the accompanying condensed consolidated statements of operations is computed by dividing net income or loss by the weighted average shares of our common stock outstanding. The calculation of diluted EPS is similar to that for basic EPS, except that the denominator includes dilutive common stock equivalents and the numerator excludes the effects of dilutive common stock equivalents, if any. The computations of the numerator (income) and denominator (shares) to derive the basic and diluted EPS amounts presented on the face of the accompanying condensed consolidated statements of operations are as follows (in thousands):



	Three Months Ended September 30, 2019				Three Months Ended September 30, 2018
	Income			Shares	Income			Shares
Basic:
Net income attributable to common shareholders	$	31,695			$	27,121
Less: Undistributed earnings allocated to participating securities	(261		)		(260		)
Accretion of redeemable noncontrolling interests	(25		)		—
Net income available to common shareholders, basic	$	31,409		147,575	$	26,861		146,700


Diluted:
Net income available to common shareholders, basic	$	31,409		147,575	$	26,861		146,700
Effect of dilutive securities:
Share-based awards other than participating securities	—			779	—			264
Undistributed earnings reallocated to participating securities	1			—	—			—
Net income available to common shareholders, diluted	$	31,410		148,354	$	26,861		146,964



	Nine Months Ended September 30, 2019				Nine Months Ended September 30, 2018
	Income			Shares	Income			Shares
Basic:
Net income attributable to common shareholders	$	49,867			$	42,345
Less: Undistributed earnings allocated to participating securities	(435		)		(407		)
Accretion of redeemable noncontrolling interests	(43		)		—
Net income available to common shareholders, basic	$	49,389		147,506	$	41,938		146,679


Diluted:
Net income available to common shareholders, basic	$	49,389		147,506	$	41,938		146,679
Effect of dilutive securities:
Share-based awards other than participating securities	—			580	—			82
Undistributed earnings reallocated to participating securities	2			—	—			—
Net income available to common shareholders, diluted	$	49,391		148,086	$	41,938		146,761

Schedule of shares excluded from diluted EPS calculation

The following potentially dilutive shares related to the 2022 Notes, the 2023 Notes and the 2032 Notes were excluded from the diluted EPS calculation as they were anti-dilutive (in thousands):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2019	2018	2019	2018

2022 Notes	8,997	8,997	8,997	8,997
2023 Notes	13,202	13,202	13,202	9,381
2032 Notes ⁽¹⁾	—	—	—	701

(1)

The 2032 Notes were fully redeemed in May 2018.