Earnings Per Share ("EPS") (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Reconciliation of Numerator and Denominator Used in Computation of Earnings Per Share

The following table reconciles the numerator and denominator used in the computation of EPS for the three and nine months ended September 30, 2022 and 2021 (shares in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2022		2021		2022		2021
Numerator
Net (loss) income	$	(13,502)	$	112,959	$	(68,541)	$	41,167
Less: net income (loss) attributable to noncontrolling interests	1,691		6,257		(784)		9,834
Net (loss) income attributable to the Company	(15,193)		106,702		(67,757)		31,333
Allocation of earnings to participating securities	(211)		(290)		(642)		(641)
Numerator for basic and diluted EPS—net loss attributable to common stockholders	$	(15,404)	$	106,412	$	(68,399)	$	30,692
Denominator



Denominator for basic and diluted EPS—weighted average number of common shares outstanding(1)	215,134		213,214		214,982		192,717
EPS—net (loss) income attributable to common stockholders
Basic and diluted	$	(0.07)	$	0.50	$	(0.32)	$	0.16

(1) Diluted EPS excludes 99,565 and 101,799 convertible preferred partnership units for the three months ended September 30, 2022 and 2021, respectively, and 99,565 and 102,751 convertible preferred partnership units for the nine months ended September 30, 2022 and 2021, respectively, as their impact was antidilutive. Diluted EPS also excludes 8,620,767 and 9,818,917 Operating Partnership units ("OP Units") for the three months ended September 30, 2022 and 2021, respectively, and 8,653,348 and 10,160,575 OP Units for the nine months ended September 30, 2022 and 2021, respectively, as their impact was antidilutive.