Earnings per Share ("EPS")

3 Months Ended

Mar. 31, 2017

Earnings per Share ("EPS"):

The following table reconciles the numerator and denominator used in the computation of EPS for the three months ended March 31, 2017 and 2016 (shares in thousands):



	For the Three Months Ended March 31,
	2017			2016
Numerator
Net income	$	74,809		$	451,375
Net income attributable to noncontrolling interests	(5,566		)	(30,460		)
Net income attributable to the Company	69,243			420,915
Allocation of earnings to participating securities	(184		)	(420		)
Numerator for basic and diluted EPS—net income attributable to common stockholders	$	69,059		$	420,495
Denominator
Denominator for basic EPS—weighted average number of common shares outstanding	143,596			151,984
Effect of dilutive securities:(1)
Share and unit-based compensation plans	59			119
Denominator for diluted EPS—weighted average number of common shares outstanding	143,655			152,103
Earnings per common share—net income attributable to common stockholders:
Basic	$	0.48		$	2.77
Diluted	$	0.48		$	2.76


(1)	Diluted EPS excludes 90,619 and 138,759 convertible preferred units for the three months ended March 31, 2017 and 2016, respectively, as their impact was antidilutive.

Diluted EPS excludes 10,591,428 and 10,820,343 Operating Partnership units ("OP Units") for the three months ended March 31, 2017 and 2016, respectively, as their impact was antidilutive.