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Earnings Per Share/Unit
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings Per Share/Unit

22. Earnings Per Share/Unit

The following table sets forth the reconciliation of the Company’s earnings and the weighted-average number of shares used in the calculation of basic and diluted earnings per share (amounts presented in thousands, except per share data):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Computation of Basic and Diluted Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to the Company's common shareholders

 

$

130,239

 

 

$

128,022

 

 

$

410,803

 

 

$

220,883

 

Change in redeemable noncontrolling interests' carrying amount

 

 

-

 

 

 

(1,691

)

 

 

-

 

 

 

(1,691

)

Earnings attributable to participating securities

 

 

(640

)

 

 

(687

)

 

 

(1,867

)

 

 

(2,066

)

Net income available to the Company’s common shareholders
   for basic earnings per share

 

 

129,599

 

 

 

125,644

 

 

 

408,936

 

 

 

217,126

 

Distributions on convertible units

 

 

-

 

 

 

-

 

 

 

27

 

 

 

-

 

Net income available to the Company’s common shareholders for diluted earnings per share

 

$

129,599

 

 

$

125,644

 

 

$

408,963

 

 

$

217,126

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – basic

 

 

674,639

 

 

 

671,231

 

 

 

675,433

 

 

 

670,851

 

Effect of dilutive securities (1):

 

 

 

 

 

 

 

 

 

 

 

 

Equity awards

 

 

732

 

 

 

289

 

 

 

762

 

 

 

193

 

Assumed conversion of convertible units

 

 

52

 

 

 

57

 

 

 

91

 

 

 

52

 

Weighted average common shares outstanding – diluted

 

 

675,423

 

 

 

671,577

 

 

 

676,286

 

 

 

671,096

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to the Company's common shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$

0.19

 

 

$

0.19

 

 

$

0.61

 

 

$

0.32

 

Diluted earnings per share

 

$

0.19

 

 

$

0.19

 

 

$

0.60

 

 

$

0.32

 

 

(1)
The effect of the assumed conversion of certain convertible units/preferred shares had an anti-dilutive effect upon the calculation of Net income available to the Company’s common shareholders per share. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per share calculations.

The following table sets forth the reconciliation of Kimco OP’s earnings and the weighted-average number of units used in the calculation of basic and diluted earnings per unit (amounts presented in thousands, except per unit data):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Computation of Basic and Diluted Earnings Per Unit:

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to Kimco OP’s common unitholders

 

$

130,533

 

 

$

128,238

 

 

$

411,655

 

 

$

221,275

 

Change in redeemable noncontrolling interests' carrying amount

 

 

-

 

 

 

(1,691

)

 

 

-

 

 

 

(1,691

)

Earnings attributable to participating securities

 

 

(751

)

 

 

(716

)

 

 

(2,089

)

 

 

(2,139

)

Net income available to Kimco OP’s common unitholders
   for basic earnings per unit

 

 

129,782

 

 

 

125,831

 

 

 

409,566

 

 

 

217,445

 

Distributions on convertible units

 

 

-

 

 

 

-

 

 

 

27

 

 

 

-

 

Net income available to Kimco OP’s common unitholders for diluted earnings per unit

 

$

129,782

 

 

$

125,831

 

 

$

409,593

 

 

$

217,445

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common units outstanding – basic

 

 

675,641

 

 

 

672,185

 

 

 

676,421

 

 

 

671,801

 

Effect of dilutive securities (1):

 

 

 

 

 

 

 

 

 

 

 

 

Unit awards

 

 

732

 

 

 

289

 

 

 

762

 

 

 

193

 

Assumed conversion of convertible units

 

 

52

 

 

 

57

 

 

 

91

 

 

 

51

 

Weighted average common units outstanding – diluted

 

 

676,425

 

 

 

672,531

 

 

 

677,274

 

 

 

672,045

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income available to Kimco OP’s common unitholders:

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per unit

 

$

0.19

 

 

$

0.19

 

 

$

0.61

 

 

$

0.32

 

Diluted earnings per unit

 

$

0.19

 

 

$

0.19

 

 

$

0.60

 

 

$

0.32

 

 

(1)
The effect of the assumed conversion of certain convertible units/preferred units had an anti-dilutive effect upon the calculation of Net income available to Kimco OP’s common unitholders per unit. Accordingly, the impact of such conversions has not been included in the determination of diluted earnings per unit calculations.

The Company’s unvested restricted share/unit awards contain non-forfeitable rights to distributions or distribution equivalents. The impact of the unvested restricted share/unit awards on earnings per share/unit has been calculated using the two-class method whereby earnings are allocated to the unvested restricted share/unit awards based on dividends declared and the unvested restricted shares/units’ participation rights in undistributed earnings.