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Earnings per Share (Tables)

3 Months Ended

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