| Schedule of Calculation of Numerator and Denominator in Earning Per Share and Earnings Per Unit |
The following tables set forth the computation of net income per share – basic and net income per share – diluted for the Company (amounts in thousands except per share amounts):
|
|
|
Six Months Ended June 30, |
|
|
Quarter Ended June 30, |
|
|
|
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
|
Numerator for net income per share – basic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
|
$ |
354,101 |
|
|
$ |
3,960,353 |
|
|
$ |
204,160 |
|
|
$ |
228,365 |
|
|
Allocation to Noncontrolling Interests – Operating
Partnership, net |
|
|
(12,765 |
) |
|
|
(152,093 |
) |
|
|
(7,354 |
) |
|
|
(8,779 |
) |
|
Net (income) attributable to Noncontrolling
Interests – Partially Owned Properties |
|
|
(1,553 |
) |
|
|
(1,545 |
) |
|
|
(765 |
) |
|
|
(781 |
) |
|
Preferred distributions |
|
|
(1,546 |
) |
|
|
(1,545 |
) |
|
|
(773 |
) |
|
|
(772 |
) |
|
Income from continuing operations available to
Common Shares, net of Noncontrolling Interests |
|
|
338,237 |
|
|
|
3,805,170 |
|
|
|
195,268 |
|
|
|
218,033 |
|
|
Discontinued operations, net of Noncontrolling Interests |
|
|
— |
|
|
|
(118 |
) |
|
|
— |
|
|
|
34 |
|
|
Numerator for net income per share – basic |
|
$ |
338,237 |
|
|
$ |
3,805,052 |
|
|
$ |
195,268 |
|
|
$ |
218,067 |
|
|
Numerator for net income per share – diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
|
$ |
354,101 |
|
|
$ |
3,960,353 |
|
|
$ |
204,160 |
|
|
$ |
228,365 |
|
|
Net (income) attributable to Noncontrolling
Interests – Partially Owned Properties |
|
|
(1,553 |
) |
|
|
(1,545 |
) |
|
|
(765 |
) |
|
|
(781 |
) |
|
Preferred distributions |
|
|
(1,546 |
) |
|
|
(1,545 |
) |
|
|
(773 |
) |
|
|
(772 |
) |
|
Income from continuing operations available to Common Shares |
|
|
351,002 |
|
|
|
3,957,263 |
|
|
|
202,622 |
|
|
|
226,812 |
|
|
Discontinued operations, net |
|
|
— |
|
|
|
(122 |
) |
|
|
— |
|
|
|
35 |
|
|
Numerator for net income per share – diluted |
|
$ |
351,002 |
|
|
$ |
3,957,141 |
|
|
$ |
202,622 |
|
|
$ |
226,847 |
|
|
Denominator for net income per share – basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator for net income per share – basic |
|
|
366,713 |
|
|
|
364,820 |
|
|
|
366,820 |
|
|
|
365,047 |
|
|
Effect of dilutive securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OP Units |
|
|
12,906 |
|
|
|
13,792 |
|
|
|
12,913 |
|
|
|
13,887 |
|
|
Long-term compensation shares/units |
|
|
2,886 |
|
|
|
3,400 |
|
|
|
2,959 |
|
|
|
3,131 |
|
|
Denominator for net income per share – diluted |
|
|
382,505 |
|
|
|
382,012 |
|
|
|
382,692 |
|
|
|
382,065 |
|
|
Net income per share – basic |
|
$ |
0.92 |
|
|
$ |
10.43 |
|
|
$ |
0.53 |
|
|
$ |
0.60 |
|
|
Net income per share – diluted |
|
$ |
0.92 |
|
|
$ |
10.36 |
|
|
$ |
0.53 |
|
|
$ |
0.59 |
|
|
Net income per share – basic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations available to
Common Shares, net of Noncontrolling Interests |
|
$ |
0.92 |
|
|
$ |
10.43 |
|
|
$ |
0.53 |
|
|
$ |
0.60 |
|
|
Discontinued operations, net of Noncontrolling Interests |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Net income per share – basic |
|
$ |
0.92 |
|
|
$ |
10.43 |
|
|
$ |
0.53 |
|
|
$ |
0.60 |
|
|
Net income per share – diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations available to Common Shares |
|
$ |
0.92 |
|
|
$ |
10.36 |
|
|
$ |
0.53 |
|
|
$ |
0.59 |
|
|
Discontinued operations, net |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Net income per share – diluted |
|
$ |
0.92 |
|
|
$ |
10.36 |
|
|
$ |
0.53 |
|
|
$ |
0.59 |
|
|
| Schedule of Calculation of Numerator and Denominator in Earning Per Share and Earnings Per Unit |
The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts):
|
|
|
Six Months Ended June 30, |
|
|
Quarter Ended June 30, |
|
|
|
|
2017 |
|
|
2016 |
|
|
2017 |
|
|
2016 |
|
|
Numerator for net income per Unit – basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
|
$ |
354,101 |
|
|
$ |
3,960,353 |
|
|
$ |
204,160 |
|
|
$ |
228,365 |
|
|
Net (income) attributable to Noncontrolling Interests – Partially
Owned Properties |
|
|
(1,553 |
) |
|
|
(1,545 |
) |
|
|
(765 |
) |
|
|
(781 |
) |
|
Allocation to Preference Units |
|
|
(1,546 |
) |
|
|
(1,545 |
) |
|
|
(773 |
) |
|
|
(772 |
) |
|
Income from continuing operations available to Units |
|
|
351,002 |
|
|
|
3,957,263 |
|
|
|
202,622 |
|
|
|
226,812 |
|
|
Discontinued operations, net |
|
|
— |
|
|
|
(122 |
) |
|
|
— |
|
|
|
35 |
|
|
Numerator for net income per Unit – basic and diluted |
|
$ |
351,002 |
|
|
$ |
3,957,141 |
|
|
$ |
202,622 |
|
|
$ |
226,847 |
|
|
Denominator for net income per Unit – basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator for net income per Unit – basic |
|
|
379,619 |
|
|
|
378,612 |
|
|
|
379,733 |
|
|
|
378,934 |
|
|
Effect of dilutive securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dilution for Units issuable upon assumed exercise/vesting
of the Company’s long-term compensation shares/units |
|
|
2,886 |
|
|
|
3,400 |
|
|
|
2,959 |
|
|
|
3,131 |
|
|
Denominator for net income per Unit – diluted |
|
|
382,505 |
|
|
|
382,012 |
|
|
|
382,692 |
|
|
|
382,065 |
|
|
Net income per Unit – basic |
|
$ |
0.92 |
|
|
$ |
10.43 |
|
|
$ |
0.53 |
|
|
$ |
0.60 |
|
|
Net income per Unit – diluted |
|
$ |
0.92 |
|
|
$ |
10.36 |
|
|
$ |
0.53 |
|
|
$ |
0.59 |
|
|
Net income per Unit – basic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations available to Units |
|
$ |
0.92 |
|
|
$ |
10.43 |
|
|
$ |
0.53 |
|
|
$ |
0.60 |
|
|
Discontinued operations, net |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Net income per Unit – basic |
|
$ |
0.92 |
|
|
$ |
10.43 |
|
|
$ |
0.53 |
|
|
$ |
0.60 |
|
|
Net income per Unit – diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations available to Units |
|
$ |
0.92 |
|
|
$ |
10.36 |
|
|
$ |
0.53 |
|
|
$ |
0.59 |
|
|
Discontinued operations, net |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Net income per Unit – diluted |
|
$ |
0.92 |
|
|
$ |
10.36 |
|
|
$ |
0.53 |
|
|
$ |
0.59 |
|
|