XML 46 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
Note 23 - Earnings Per Share
 12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Earnings Per Share [Text Block]
23.
Earnings Per Share:
 
The following table sets forth the reconciliation of earnings and the weighted-average number of shares used in the calculation of basic and diluted earnings per share (amounts presented in thousands, except per share data):
 
   
For the Year Ended December 31,
  
   
2018
    
2017
    
2016
  
Computation of Basic and Diluted Earnings Per Share:
  
 
 
 
  
 
 
 
  
 
 
 
Net income available to the Company's common shareholders
   $
439,604
     $
372,461
     $
332,630
  
Change in estimated redemption value of redeemable noncontrolling interests
    
(7,521
 )    
-
      
-
  
Earnings attributable to participating securities
    
(2,375
 )    
(2,132
 )    
(2,018
 )
Net income available to the Company’s common shareholders for basic earnings per share
    
429,708
      
370,329
      
330,612
  
Distributions on convertible units
    
99
      
-
      
-
  
Net income available to the Company’s common shareholders for diluted earnings per share
   $
429,807
     $
370,329
     $
330,612
  
                         
Weighted average common shares outstanding – basic
    
420,641
      
423,614
      
418,402
  
Effect of dilutive securities (1):
                        
Equity awards
    
628
      
405
      
1,307
  
Assumed conversion of convertible units
    
110
      
-
      
-
  
Weighted average common shares outstanding – diluted
    
421,379
      
424,019
      
419,709
  
                         
Net income available to the Company's common shareholders:
                        
Basic earnings per share
   $
1.02
     $
0.87
     $
0.79
  
Diluted earnings per share
   $
1.02
     $
0.87
     $
0.79
  
 
 
(
1
)
The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Income from continuing operations per share. Accordingly, the impact of such conversions has
not
been included in the determination of diluted earnings per share calculations. Additionally, there were
1.3
million,
3.1
million and
3.5
million stock options that were
not
dilutive as of
December 31, 2018,
2017
and
2016,
respectively.
 
The Company's unvested restricted share awards contain non-forfeitable rights to distributions or distribution equivalents. The impact of the unvested restricted share awards on earnings per share has been calculated using the
two
-class method whereby earnings are allocated to the unvested restricted share awards based on dividends declared and the unvested restricted shares' participation rights in undistributed earnings.