Earnings per Share and Unit (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of earnings per share

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

	Three months ended September 30,				Nine months ended September 30,
(in thousands, except per share data)	2023		2022		2023		2022
Numerator:
Income attributable to common shareholders - basic	$	89,076		87,578	$	273,139		387,602
Income attributable to common shareholders - diluted	$	89,076		87,578	$	273,139		387,602
Denominator:
Weighted average common shares outstanding for basic EPS		177,344		171,121		173,212		171,499
Weighted average common shares outstanding for diluted EPS (1)		178,231		171,525		173,711		171,870
Income per common share – basic	$	0.50		0.51	$	1.58		2.26
Income per common share – diluted	$	0.50		0.51	$	1.57		2.26

(1)Includes the dilutive impact of unvested restricted stock and assumed conversion of convertible units.

Partnership Interest [Member]

Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per unit ("EPU"):

	Three months ended September 30,				Nine months ended September 30,
(in thousands, except per share data)	2023		2022		2023		2022
Numerator:
Income attributable to common unit holders - basic	$	89,596		87,957	$	274,629		389,296
Income attributable to common unit holders - diluted	$	89,596		87,957	$	274,629		389,296
Denominator:
Weighted average common units outstanding for basic EPU		178,424		171,862		174,121		172,249
Weighted average common units outstanding for diluted EPU (1)		179,311		172,267		174,621		172,620
Income per common unit – basic	$	0.50		0.51	$	1.58		2.26
Income per common unit – diluted	$	0.50		0.51	$	1.57		2.26

(1)Includes the dilutive impact of unvested restricted stock and assumed conversion of convertible units.