Per Share Data

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Per Share Data

4. Per Share Data

Basic earnings per share is computed using net income attributable to common shareholders and the weighted average number of common shares outstanding. Diluted earnings per share reflects common shares issuable from the assumed conversion of common share options and share awards granted and units convertible into common shares. Only those items having a dilutive impact on our basic earnings per share are included in diluted earnings per share. Our unvested share-based awards are considered participating securities and are reflected in the calculation of basic and diluted earnings per share using the two-class method. The number of common share equivalent securities excluded from the diluted earnings per share calculation was approximately 1.4 million and 1.6 million for the three months ended March 31, 2018 and 2017, respectively. These securities, which include common share options and share awards granted and units convertible into common shares, were excluded from the diluted earnings per share calculations as they are anti-dilutive.

The following table presents information necessary to calculate basic and diluted earnings per share for the periods indicated:

	Three Months Ended March 31,
(in thousands, except per share amounts)	2018			2017
Earnings per common share calculation – basic
Income from continuing operations attributable to common shareholders	$	39,395		$	34,861
Amount allocated to participating securities	(265		)	(38		)
Net income attributable to common shareholders – basic	$	39,130		$	34,823
Total earnings per common share – basic	$	0.41		$	0.39
Weighted average number of common shares outstanding – basic	95,067			89,925

	Three Months Ended March 31,
(in thousands, except per share amounts)	2018		2017
Earnings per common share calculation – diluted
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	39,130	$	34,823
Income allocated to common units from continuing operations	297		273
Net income attributable to common shareholders – diluted	$	39,427	$	35,096
Total earnings per common share – diluted	$	0.41	$	0.39
Weighted average number of common shares outstanding – basic	95,067		89,925
Incremental shares issuable from assumed conversion of:
Common share options and share awards granted	174		218
Common units	805		806
Weighted average number of common shares outstanding – diluted	96,046		90,949