Reconciliation of Net Income (Loss) and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS |
The following table provides a reconciliation of net income and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months |
|
|
Nine Months |
|
|
Ended September 30, |
|
|
Ended September 30, |
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Numerators – Basic and Diluted |
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
322,953 |
|
|
$ |
48,642 |
|
|
$ |
537,646 |
|
|
$ |
69,297 |
|
Income attributable to non-controlling interests |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(18 |
) |
Preferred dividends |
|
(2,789 |
) |
|
|
(2,789 |
) |
|
|
(8,367 |
) |
|
$ |
(8,367 |
) |
Earnings attributable to unvested shares and OP Units |
|
(1,171 |
) |
|
|
(100 |
) |
|
|
(2,005 |
) |
|
$ |
(295 |
) |
Net income attributable to common shareholders after allocation to participating securities |
$ |
318,993 |
|
|
$ |
45,753 |
|
|
$ |
527,274 |
|
|
$ |
60,617 |
|
Denominators – Number of Shares |
|
|
|
|
|
|
|
|
|
|
|
Basic—Average shares outstanding |
|
52,400 |
|
|
|
52,322 |
|
|
|
52,381 |
|
|
|
52,376 |
|
Assumed conversion of dilutive securities—PRSUs |
|
153 |
|
|
|
28 |
|
|
|
177 |
|
|
|
60 |
|
Diluted—Average shares outstanding |
|
52,553 |
|
|
|
52,350 |
|
|
|
52,558 |
|
|
|
52,436 |
|
Earnings Per Share: |
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
6.09 |
|
|
$ |
0.87 |
|
|
$ |
10.07 |
|
|
$ |
1.16 |
|
Diluted |
$ |
6.07 |
|
|
$ |
0.87 |
|
|
$ |
10.03 |
|
|
$ |
1.16 |
|
|