Earnings per Share and Unit (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of earnings per share

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

	Year ended December 31,
(in thousands, except per share data)	2022		2021		2020
Numerator:
Income attributable to common stockholders - basic	$	482,865		361,411		44,889
Income attributable to common stockholders - diluted	$	482,865		361,411		44,889
Denominator:
Weighted average common shares outstanding for basic EPS		171,404		170,236		169,231
Weighted average common shares outstanding for diluted EPS (1) (2)		171,791		170,694		169,460
Income per common share – basic	$	2.82		2.12		0.27
Income per common share – diluted	$	2.81		2.12		0.26

(1)Includes the dilutive impact of unvested restricted stock.

(2)Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive.

Partnership Interest [Member]

Schedule of earnings per share

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

	Year ended December 31,
(in thousands, except per share data)	2022		2021		2020
Numerator:
Income attributable to common unit holders - basic	$	484,970		363,026		45,092
Income attributable to common unit holders - diluted	$	484,970		363,026		45,092
Denominator:
Weighted average common units outstanding for basic EPU		172,152		170,998		169,997
Weighted average common units outstanding for diluted EPU (1) (2)		172,540		171,456		170,225
Income per common unit – basic	$	2.82		2.12		0.27
Income per common unit – diluted	$	2.81		2.12		0.26

(1)Includes the dilutive impact of unvested restricted stock.

(2)Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive.