Earnings per Share and Unit (Tables)

6 Months Ended

Jun. 30, 2016

Parent Company [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per share:

	Three months ended June 30,			Six months ended June 30,
(in thousands, except per share data)	2016		2015	2016		2015
Numerator:
Income from operations attributable to common stockholders - basic	$	34,810	32,480	$	82,687	57,653
Income from operations attributable to common stockholders - diluted	$	34,810	32,480	$	82,687	57,653
Denominator:
Weighted average common shares outstanding for basic EPS	97,657		94,136	97,588		94,036
Weighted average common shares outstanding for diluted EPS (1)	98,218		94,503	98,075		94,392
Income per common share – basic	$	0.36	0.35	$	0.85	0.61
Income per common share – diluted	$	0.35	0.34	$	0.84	0.61

Partnership Interest [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per unit:

	Three months ended June 30,			Six months ended June 30,
(in thousands, except per share data)	2016		2015	2016		2015
Numerator:
Income from operations attributable to common unit holders - basic	$	34,874	32,541	$	82,837	57,763
Income from operations attributable to common unit holders - diluted	$	34,874	32,541	$	82,837	57,763
Denominator:
Weighted average common units outstanding for basic EPU	97,811		94,290	97,742		94,190
Weighted average common units outstanding for diluted EPU (1)	98,372		94,658	98,229		94,546
Income per common unit – basic	$	0.36	0.35	$	0.85	0.61
Income per common unit – diluted	$	0.35	0.34	$	0.84	0.61

⁽¹⁾ Includes the dilutive impact of unvested restricted stock and forward equity offering using the treasury stock method.

Subsequent to June 30, 2016, the Parent Company issued 5.0 million shares of common stock pursuant to the Company's shelf registration statement. For details of the offering transaction, refer to Note 7.