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Earnings per Share (Tables) | 3 Months Ended
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Mar. 31, 2017
Earnings per Share |
Schedule of reconciliation of net income before noncontrolling interest to net income available for common stockholders |
|  | For the Three Months Ended |  | For the Three Months Ended |
(in thousands) |  | March 31, 2017 |  | March 31, 2016 |
Income before income taxes and noncontrolling interest |  | $ | 23,882 |  | $ | 58,702 |
Provision for income taxes |  |  | 2,808 |  |  | 7,346 |
Net income |  |  | 21,074 |  |  | 51,356 |
Noncontrolling interest |  |  | (16,494) |  |  | (41,008) |
Net income available for common stockholders |  | $ | 4,580 |  | $ | 10,348 |
Schedule of basic earnings per share |
|  | For the Three Months Ended March 31, |
(in thousands, except for share or per share data) |  | 2017 |  | 2016 |
Basic earnings per share: |  |  |  |  |  |  |
Net income available for common stockholders |  | $ | 4,580 |  | $ | 10,348 |
Less: Dividends and undistributed earnings allocated to participating securities |  |  | (353) |  |  | (221) |
Net income available for common stockholders, net of dividends and undistributed earnings allocated to participating securities |  |  | 4,227 |  |  | 10,127 |
Weighted average shares of common stock outstanding: |  |  |  |  |  |  |
Class A |  |  | 40,398,381 |  |  | 38,210,209 |
Basic Earnings per share |  | $ | 0.10 |  | $ | 0.27 |
Schedule of diluted earnings per share |
|  | For the Three Months Ended March 31, |
(in thousands, except for share or per share data) |  | 2017 |  | 2016 |
Diluted earnings per share: |  |  |  |  |  |  |
Net income available for common stockholders, net of dividends and undistributed earnings allocated to participating securities |  | $ | 4,227 |  | $ | 10,127 |
Weighted average shares of common stock outstanding: |  |  |  |  |  |  |
Class A |  |  |  |  |  |  |
Issued and outstanding |  |  | 40,398,381 |  |  | 38,210,209 |
Issuable pursuant to 2015 Management Incentive Plan(1) |  |  | — |  |  | 279,280 |
|  |  | 40,398,381 |  |  | 38,489,489 |
Diluted Earnings per share |  | $ | 0.10 |  | $ | 0.26 |

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