XML 19 R9.htm IDEA: XBRL DOCUMENT v3.24.3
Per Share Data
9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Per Share Data
3. Per Share Data
Basic earnings per share is computed using net income (loss) 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 1.7 million for the three months ended September 30, 2024 and 2023, respectively, and approximately 1.8 million for each of the nine months ended September 30, 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
September 30,
Nine Months Ended
September 30,
(in thousands, except per share amounts)2024202320242023
Earnings per common share calculation – basic
Income (loss) from continuing operations attributable to common shareholders$(4,204)$47,963 $122,602 $180,979 
Amount allocated to participating securities12 (61)(221)(318)
Net income (loss) attributable to common shareholders – basic$(4,192)$47,902 $122,381 $180,661 
Total earnings (loss) per common share – basic$(0.04)$0.44 $1.13 $1.66 
Weighted average number of common shares outstanding – basic108,426 108,683 108,513 108,638 
Earnings per common share calculation – diluted
Net income (loss) attributable to common shareholders – diluted$(4,192)$47,902 $122,381 $180,661 
Total earnings (loss) per common share – diluted$(0.04)$0.44 $1.13 $1.66 
Weighted average number of common shares outstanding – basic108,426 108,683 108,513 108,638 
Incremental shares issuable from conversion of share based awards— 23 34 21 
Weighted average number of common shares outstanding – diluted108,426 108,706 108,547 108,659