Earnings and Dividends per Share and per Unit (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Reconciliations of Numerator and Denominator in Calculations of Basic and Diluted Earnings per Share and per Unit

Reconciliations of the numerator and denominator in the calculations of basic and diluted earnings per share and per unit are as follows (in thousands, except per share and per unit data):

	Three Months Ended				Nine Months Ended
	September 30, 2023		September 30, 2022		September 30, 2023		September 30, 2022
Earnings per share
Numerator:
Basic net income attributable to AIR common stockholders	$	663,596	$	1,760	$	650,700	$	574,363
Effect of dilutive instruments	1,570		—		4,710		4,807
Dilutive net income attributable to AIR common stockholders	$	665,166	$	1,760	$	655,410	$	579,170
Denominator – shares:
Basic weighted-average common shares outstanding	147,474		153,811		148,372		155,488
Dilutive common share equivalents outstanding	2,571		246		2,320		1,952
Dilutive weighted-average common shares outstanding	150,045		154,057		150,692		157,440
Earnings per share – basic	$	4.50	$	0.01	$	4.39	$	3.69
Earnings per share – diluted	$	4.43	$	0.01	$	4.35	$	3.68
Earnings per unit
Numerator:
Basic net income attributable to the AIR Operating Partnership’s common unitholders	$	705,982	$	1,897	$	691,945	$	611,416
Effect of dilutive instruments	1,570		—		4,710		4,935
Dilutive net income attributable to the AIR Operating Partnership’s common unitholders	$	707,552	$	1,897	$	696,655	$	616,351
Denominator – units:
Basic weighted-average common units outstanding	157,366		163,866		158,138		165,578
Dilutive common unit equivalents outstanding	2,571		246		2,320		1,951
Dilutive weighted-average common units outstanding	159,937		164,112		160,458		167,529
Earnings per unit – basic	$	4.49	$	0.01	$	4.38	$	3.69
Earnings per unit – diluted	$	4.42	$	0.01	$	4.34	$	3.68