| 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):
|
|
|
Year Ended December 31, |
|
|
|
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
Numerator for net income per share – basic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
|
$ |
628,381 |
|
|
$ |
4,479,586 |
|
|
$ |
907,621 |
|
|
Allocation to Noncontrolling Interests – Operating
Partnership, net |
|
|
(22,604 |
) |
|
|
(171,491 |
) |
|
|
(34,226 |
) |
|
Net (income) loss attributable to Noncontrolling
Interests – Partially Owned Properties |
|
|
(2,323 |
) |
|
|
(16,430 |
) |
|
|
(3,657 |
) |
|
Preferred distributions |
|
|
(3,091 |
) |
|
|
(3,091 |
) |
|
|
(3,357 |
) |
|
Premium on redemption of Preferred Shares |
|
|
— |
|
|
|
— |
|
|
|
(3,486 |
) |
|
Income from continuing operations available to
Common Shares, net of Noncontrolling Interests |
|
|
600,363 |
|
|
|
4,288,574 |
|
|
|
862,895 |
|
|
Discontinued operations, net of Noncontrolling Interests |
|
|
— |
|
|
|
498 |
|
|
|
382 |
|
|
Numerator for net income per share – basic |
|
$ |
600,363 |
|
|
$ |
4,289,072 |
|
|
$ |
863,277 |
|
|
Numerator for net income per share – diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
|
$ |
628,381 |
|
|
$ |
4,479,586 |
|
|
$ |
907,621 |
|
|
Net (income) loss attributable to Noncontrolling
Interests – Partially Owned Properties |
|
|
(2,323 |
) |
|
|
(16,430 |
) |
|
|
(3,657 |
) |
|
Preferred distributions |
|
|
(3,091 |
) |
|
|
(3,091 |
) |
|
|
(3,357 |
) |
|
Premium on redemption of Preferred Shares |
|
|
— |
|
|
|
— |
|
|
|
(3,486 |
) |
|
Income from continuing operations available to Common Shares |
|
|
622,967 |
|
|
|
4,460,065 |
|
|
|
897,121 |
|
|
Discontinued operations, net |
|
|
— |
|
|
|
518 |
|
|
|
397 |
|
|
Numerator for net income per share – diluted |
|
$ |
622,967 |
|
|
$ |
4,460,583 |
|
|
$ |
897,518 |
|
|
Denominator for net income per share – basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator for net income per share – basic |
|
|
366,968 |
|
|
|
365,002 |
|
|
|
363,498 |
|
|
Effect of dilutive securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
OP Units |
|
|
12,901 |
|
|
|
13,827 |
|
|
|
13,576 |
|
|
Long-term compensation shares/units |
|
|
2,809 |
|
|
|
3,163 |
|
|
|
3,546 |
|
|
Denominator for net income per share – diluted |
|
|
382,678 |
|
|
|
381,992 |
|
|
|
380,620 |
|
|
Net income per share – basic |
|
$ |
1.64 |
|
|
$ |
11.75 |
|
|
$ |
2.37 |
|
|
Net income per share – diluted |
|
$ |
1.63 |
|
|
$ |
11.68 |
|
|
$ |
2.36 |
|
|
Net income per share – basic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations available to
Common Shares, net of Noncontrolling Interests |
|
$ |
1.64 |
|
|
$ |
11.75 |
|
|
$ |
2.37 |
|
|
Discontinued operations, net of Noncontrolling Interests |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Net income per share – basic |
|
$ |
1.64 |
|
|
$ |
11.75 |
|
|
$ |
2.37 |
|
|
Net income per share – diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations available to Common Shares |
|
$ |
1.63 |
|
|
$ |
11.68 |
|
|
$ |
2.36 |
|
|
Discontinued operations, net |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Net income per share – diluted |
|
$ |
1.63 |
|
|
$ |
11.68 |
|
|
$ |
2.36 |
|
|
| 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):
|
|
|
Year Ended December 31, |
|
|
|
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
Numerator for net income per Unit – basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
|
$ |
628,381 |
|
|
$ |
4,479,586 |
|
|
$ |
907,621 |
|
|
Net (income) loss attributable to Noncontrolling Interests –
Partially Owned Properties |
|
|
(2,323 |
) |
|
|
(16,430 |
) |
|
|
(3,657 |
) |
|
Allocation to Preference Units |
|
|
(3,091 |
) |
|
|
(3,091 |
) |
|
|
(3,357 |
) |
|
Allocation to premium on redemption of Preference Units |
|
|
— |
|
|
|
— |
|
|
|
(3,486 |
) |
|
Income from continuing operations available to Units |
|
|
622,967 |
|
|
|
4,460,065 |
|
|
|
897,121 |
|
|
Discontinued operations, net |
|
|
— |
|
|
|
518 |
|
|
|
397 |
|
|
Numerator for net income per Unit – basic and diluted |
|
$ |
622,967 |
|
|
$ |
4,460,583 |
|
|
$ |
897,518 |
|
|
Denominator for net income per Unit – basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Denominator for net income per Unit – basic |
|
|
379,869 |
|
|
|
378,829 |
|
|
|
377,074 |
|
|
Effect of dilutive securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Dilution for Units issuable upon assumed exercise/vesting
of the Company’s long-term compensation shares/units |
|
|
2,809 |
|
|
|
3,163 |
|
|
|
3,546 |
|
|
Denominator for net income per Unit – diluted |
|
|
382,678 |
|
|
|
381,992 |
|
|
|
380,620 |
|
|
Net income per Unit – basic |
|
$ |
1.64 |
|
|
$ |
11.75 |
|
|
$ |
2.37 |
|
|
Net income per Unit – diluted |
|
$ |
1.63 |
|
|
$ |
11.68 |
|
|
$ |
2.36 |
|
|
Net income per Unit – basic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations available to Units |
|
$ |
1.64 |
|
|
$ |
11.75 |
|
|
$ |
2.37 |
|
|
Discontinued operations, net |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Net income per Unit – basic |
|
$ |
1.64 |
|
|
$ |
11.75 |
|
|
$ |
2.37 |
|
|
Net income per Unit – diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations available to Units |
|
$ |
1.63 |
|
|
$ |
11.68 |
|
|
$ |
2.36 |
|
|
Discontinued operations, net |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Net income per Unit – diluted |
|
$ |
1.63 |
|
|
$ |
11.68 |
|
|
$ |
2.36 |
|
|