Computation of Company's Earnings Per Share (EPS) and Reconciliation of Net (Loss) Income from Continuing Operations and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS |
The following table provides a reconciliation of net (loss) income from continuing operations 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 |
|
|
Six Months |
|
|
Ended June 30, |
|
|
Ended June 30, |
|
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
Numerators – Basic and Diluted |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) income from continuing operations |
$ |
(14,721 |
) |
|
$ |
27,647 |
|
|
$ |
(106,876 |
) |
|
$ |
61,139 |
|
Plus: Gain on disposition of real estate |
|
44,599 |
|
|
|
13,721 |
|
|
|
82,726 |
|
|
|
26,102 |
|
Plus: Income attributable to non-controlling interests |
|
(267 |
) |
|
|
(310 |
) |
|
|
(480 |
) |
|
|
(610 |
) |
Less: Preferred dividends |
|
(6,399 |
) |
|
|
(5,594 |
) |
|
|
(11,993 |
) |
|
|
(11,188 |
) |
Less: Earnings attributable to unvested shares and operating
partnership units |
|
(251 |
) |
|
|
(204 |
) |
|
|
(502 |
) |
|
|
(414 |
) |
Net income (loss) attributable to common shareholders after
allocation to participating securities |
$ |
22,961 |
|
|
$ |
35,260 |
|
|
$ |
(37,125 |
) |
|
$ |
75,029 |
|
Denominators – Number of Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic—Average shares outstanding |
|
366,987 |
|
|
|
364,976 |
|
|
|
366,710 |
|
|
|
364,834 |
|
Effect of dilutive securities—Stock options |
|
43 |
|
|
|
342 |
|
|
|
— |
|
|
|
346 |
|
Diluted—Average shares outstanding |
|
367,030 |
|
|
|
365,318 |
|
|
|
366,710 |
|
|
|
365,180 |
|
Earnings (Loss) Per Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
$ |
0.06 |
|
|
$ |
0.10 |
|
|
$ |
(0.10 |
) |
|
$ |
0.21 |
|
Diluted |
$ |
0.06 |
|
|
$ |
0.10 |
|
|
$ |
(0.10 |
) |
|
$ |
0.21 |
|
|