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Earnings per Share (Tables) | 3 Months Ended
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Mar. 31, 2018
Earnings Per Share [Abstract] |
Schedule of reconciliation of net income before noncontrolling interest to net income available for common stockholders | The below table contains a reconciliation of net income before noncontrolling interest to net income available for common stockholders:
|  | Three Months Ended March 31,
(in thousands) |  | 2018 |  | 2017
Income before income taxes and noncontrolling interest |  | $ | 468,536 |  |  | $ | 23,882 |
Provision for income taxes |  | 58,514 |  |  | 2,808 |
Net income |  | 410,022 |  |  | 21,074 |
Noncontrolling interest |  | (235,271 | ) |  | (16,494 | )
Net income available for common stockholders |  | $ | 174,751 |  |  | $ | 4,580 |
Schedule of basic earnings per share | The calculation of basic and diluted earnings per share is presented below:
|  | Three Months Ended March 31,
(in thousands, except for share or per share data) |  | 2018 |  | 2017
Basic earnings per share: |  |  |  |
Net income available for common stockholders |  | $ | 174,751 |  |  | $ | 4,580 |
Less: Dividends and undistributed earnings allocated to participating securities |  | (3,213 | ) |  | (353 | )
Net income available for common stockholders, net of dividends and undistributed earnings allocated to participating securities |  | 171,538 |  |  | 4,227 |
Weighted average shares of common stock outstanding: |  |  |  |
Class A |  | 90,699,321 |  |  | 40,398,381 |
Basic Earnings per share |  | $ | 1.89 |  |  | $ | 0.10 |
Schedule of diluted earnings per share |
|  | Three Months Ended March 31,
(in thousands, except for share or per share data) |  | 2018 |  | 2017
Diluted earnings per share: |  |  |  |
Net income available for common stockholders, net of dividends and undistributed earnings allocated to participating securities |  | $ | 171,538 |  |  | $ | 4,227 |
Weighted average shares of common stock outstanding: |  |  |  |
Class A |  |  |  |
Issued and outstanding |  | 90,699,321 |  |  | 40,398,381 |
Issuable pursuant to 2015 Management Incentive Plan(1) |  | 1,706,996 |  |  | — |
|  | 92,406,317 |  |  | 40,398,381 |
Diluted Earnings per share |  | $ | 1.86 |  |  | $ | 0.10 |
(1) | The dilutive impact of unexercised stock options excludes from the computation of EPS 774,529 options for the three months ended March 31, 2017, because inclusion of the options would have been anti-dilutive.

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