Per Share Data

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Per Share Data

3. Per Share Data

Basic earnings per share are computed using net income attributable to common shareholders and the weighted average number of common shares outstanding. Diluted earnings per share reflect 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 1.1 million, 2.1 million, and 1.5 million for the years ended December 31, 2019, 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 calculation as they are anti-dilutive.

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

	Year Ended December 31,
(in thousands, except per share amounts)	2019			2018			2017
Earnings per common share calculation – basic
Income from continuing operations attributable to common shareholders	$	219,623		$	156,128		$	196,422
Amount allocated to participating securities	(539		)	(1,107		)	(660		)
Net income attributable to common shareholders – basic	$	219,084		$	155,021		$	195,762
Total earnings per common share – basic	$	2.23		$	1.63		$	2.14
Weighted average number of common shares outstanding – basic	98,460			95,208			91,499

Earnings per common share calculation – diluted
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	219,084	$	155,021	$	195,762
Income allocated to common units from continuing operations	1,593		—		1,174
Net income attributable to common shareholders – diluted	$	220,677	$	155,021	$	196,936
Total earnings per common share – diluted	$	2.22	$	1.63	$	2.13
Weighted average number of common shares outstanding – basic	98,460		95,208		91,499
Incremental shares issuable from assumed conversion of:
Common share options and share awards granted	119		158		211
Common units	805		—		805
Weighted average number of common shares outstanding – diluted	99,384		95,366		92,515