Earnings Per Share

A significant portion of the Company's non-vested share-based payment awards are considered participating securities and as such, the Company is required to use the two-class method for the computation of basic and diluted earnings per share. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The non-vested share-based payment awards are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company.

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for each of the years in the three-year period ended December 31, 2018:



	2018		2017		2016
BASIC
Net income attributable to common shareholders	$	220,838	$	79,067	$	89,109
Weighted-average number of common shares outstanding	236,666,375		237,758,408		233,633,058
Net income attributable to common shareholders - per common share basic	$	0.93	$	0.33	$	0.38



DILUTED:
Net income attributable to common shareholders - basic	$	220,838	$	79,067	$	89,109
Impact of assumed conversions	2,528		147		(159		)
Net income attributable to common shareholders	$	223,366	$	79,214	$	88,950

Weighted-average common shares outstanding - basic	236,666,375		237,758,408		233,633,058
Effect of dilutive securities:
Unvested share-based payment awards and options	528,495		86,285		230,352
Operating Partnership Units	3,616,120		3,693,144		3,815,621
Weighted-average common shares outstanding - diluted	240,810,990		241,537,837		237,679,031

Net income attributable to common shareholders - per common share diluted	$	0.93	$	0.33	$	0.37

For per common share amounts, all incremental shares are considered anti-dilutive for periods that have a loss from continuing operations attributable to common shareholders. In addition, other common share equivalents may be anti-dilutive in certain periods.