Per Share Data

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Per Share Data

5. 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 were approximately 1.9 million for both the three and nine months ended September 30, 2019 and approximately 2.1 million and 2.2 million for the three and nine months ended September 30, 2018, 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 September 30,						Nine Months Ended September 30,
(in thousands, except per share amounts)	2019			2018			2019			2018
Earnings per common share calculation – basic
Income from continuing operations attributable to common shareholders	$	43,597		$	38,866		$	124,609		$	116,932
Amount allocated to participating securities	(89		)	(284		)	(284		)	(831		)
Net income attributable to common shareholders – basic	$	43,508		$	38,582		$	124,325		$	116,101
Total earnings per common share – basic	$	0.44		$	0.41		$	1.27		$	1.22
Weighted average number of common shares outstanding – basic	98,959			95,257			98,259			95,190
Earnings per common share calculation – diluted
Net income attributable to common shareholders – diluted	$	43,508		$	38,582		$	124,325		$	116,101
Total earnings per common share – diluted	$	0.44		$	0.40		$	1.26		$	1.22
Weighted average number of common shares outstanding – basic	98,959			95,257			98,259			95,190
Incremental shares issuable from assumed conversion of:
Common share options and share awards granted	107			160			116			143
Weighted average number of common shares outstanding – diluted	99,066			95,417			98,375			95,333