Earnings Per Share

12 Months Ended

Dec. 31, 2019

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, 2019:



	2019		2018		2017
BASIC
Net income attributable to common shareholders	$	273,225	$	220,838	$	79,067
Weighted-average number of common shares outstanding	237,642,048		236,666,375		237,758,408
Net income attributable to common shareholders - per common share basic	$	1.15	$	0.93	$	0.33



DILUTED:
Net income attributable to common shareholders - basic	$	273,225	$	220,838	$	79,067
Impact of assumed conversions	—		2,528		147
Net income attributable to common shareholders	$	273,225	$	223,366	$	79,214

Weighted-average common shares outstanding - basic	237,642,048		236,666,375		237,758,408
Effect of dilutive securities:
Unvested share-based payment awards and options	292,467		528,495		86,285
Operating Partnership Units	—		3,616,120		3,693,144
Weighted-average common shares outstanding - diluted	237,934,515		240,810,990		241,537,837

Net income attributable to common shareholders - per common share diluted	$	1.15	$	0.93	$	0.33

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.