Per Share Data

3 Months Ended

Mar. 31, 2024

3. Per Share Data

Basic earnings per share is computed using net income attributable to common shareholders and the weighted average number of common shares outstanding. Diluted earnings per share reflects common shares issuable from the assumed conversion of common share options and unvested share awards as well as units convertible into common shares. Only those items having a dilutive impact on our basic earnings per share are included in diluted earnings per share. Our unvested share-based awards are considered participating securities and are reflected in the calculation of basic and diluted earnings per share using the two-class method. Common shares under a forward sale agreement, if any, will be considered in our calculation for diluted earnings-per-share until settlement using the if-converted method. The number of common share equivalent securities excluded from the diluted earnings per share calculation was approximately 1.8 million and for each of the three months ended March 31, 2024 and 2023. These securities, which include share awards granted and units convertible into common shares, are anti-dilutive and were therefore excluded from the diluted earnings per share calculations. The following table presents information necessary to calculate basic and diluted earnings per share for the periods indicated:


	Three Months Ended March 31,
(in thousands, except per share amounts)	2024		2023
Earnings per common share calculation – basic
Income from continuing operations attributable to common shareholders	$	83,889	$	41,917
Amount allocated to participating securities	(159)		(81)


Net income attributable to common shareholders – basic	$	83,730	$	41,836



Total earnings per common share – basic	$	0.77	$	0.39

Weighted average number of common shares outstanding – basic	108,706		108,568

Earnings per common share calculation – diluted
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	83,730	$	41,836
Income allocated to common units from continuing operations	—		—


Net income attributable to common shareholders – diluted	$	83,730	$	41,836



Total earnings per common share – diluted	$	0.77	$	0.39

Weighted average number of common shares outstanding – basic	108,706		108,568
Incremental shares issuable from assumed conversion of:
Share awards granted	23		36

Weighted average number of common shares outstanding – diluted	108,729		108,604