Earnings per Share and Unit

3 Months Ended

Mar. 31, 2022

Earnings Per Share And Unit [Abstract]


11.	Earnings per Share and Unit

Parent Company Earnings per Share

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


	Three months ended March 31,
(in thousands, except per share data)	2022		2021
Numerator:
Income attributable to common stockholders - basic	$	195,228		80,656
Income attributable to common stockholders - diluted	$	195,228		80,656
Denominator:
Weighted average common shares outstanding for basic EPS		171,312		169,768
Weighted average common shares outstanding for diluted EPS		171,671		170,006
Income per common share – basic	$	1.14		0.48
Income per common share – diluted	$	1.14		0.47

Income allocated to noncontrolling interests of the Operating Partnership has been excluded from the numerator and exchangeable Operating Partnership units have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these amounts in the numerator and denominator would be anti-dilutive. Weighted average exchangeable Operating Partnership units outstanding for the three months ended March 31, 2022 and 2021, were 760,046 and 765,046, respectively.

Operating Partnership Earnings per Unit

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


	Three months ended March 31,
(in thousands, except per share data)	2022		2021
Numerator:
Income attributable to common unit holders - basic	$	196,091		81,020
Income attributable to common unit holders - diluted	$	196,091		81,020
Denominator:
Weighted average common units outstanding for basic EPU		172,072		170,533
Weighted average common units outstanding for diluted EPU		172,431		170,771
Income per common unit – basic	$	1.14		0.48
Income per common unit – diluted	$	1.14		0.47