XML 64 R20.htm IDEA: XBRL DOCUMENT
v3.19.3

Earnings Per Share | 9 Months Ended
--- | ---
Sep. 30, 2019
Earnings Per Share [Abstract] |
Earnings Per Share |
13. EARNINGS PER SHARE
We use the two-class method of computing earnings per share (“EPS”), which is an earnings allocation formula that determines EPS for common stock and any participating securities according to distributions declared (whether paid or unpaid). Under the two-class method, basic EPS is computed by dividing Net Loss Attributable to Stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted EPS reflects the potential dilution that could occur from share equivalent activity. OP units held by limited partners other than us are considered to be participating securities because they contain non-forfeitable rights to dividends or dividend equivalents, and have the potential to be exchanged for an equal number of shares of our common stock in accordance with the terms of the Fourth Amended and Restated Agreement of Limited Partnership of the Operating Partnership. Phantom stock units are not considered to be participating securities, as they are not convertible into common stock. The impact of OP units on basic and diluted EPS has been calculated using the two-class method whereby earnings are allocated to the OP units based on dividends declared and the OP units’ participation rights in undistributed earnings. The effects of the two-class method on basic and diluted EPS were immaterial to the consolidated financial statements as of September 30, 2019 and 2018. The following table provides a reconciliation of the numerator and denominator of the earnings per share calculations (in thousands, except per share amounts):
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
Numerator: |  |  |  |  |  |  |
Net loss attributable to stockholders - basic | $ | (25,877 | ) |  | $ | (13,228 | ) |  | $ | (67,642 | ) |  | $ | (26,179 | )
Net loss attributable to convertible OP units(1) | (3,893 | ) |  | (3,180 | ) |  | (10,319 | ) |  | (6,270 | )
Net loss - diluted | $ | (29,770 | ) |  | $ | (16,408 | ) |  | $ | (77,961 | ) |  | $ | (32,449 | )
Denominator: |  |  |  |  |  |  |
Weighted-average shares - basic | 283,827 |  |  | 183,699 |  |  | 282,714 |  |  | 184,676 |
OP units(1) | 42,783 |  |  | 44,453 |  |  | 43,356 |  |  | 44,453 |
Adjusted weighted-average shares - diluted | 326,610 |  |  | 228,152 |  |  | 326,070 |  |  | 229,129 |
Earnings per common share: |  |  |  |  |  |  |
Basic and diluted | $ | (0.09 | ) |  | $ | (0.07 | ) |  | $ | (0.24 | ) |  | $ | (0.14 | )
(1) OP units include units that are convertible into common stock or cash, at the Operating Partnership’s option. The Operating Partnership loss attributable to these OP units, which is included as a component of Net Loss Attributable to Noncontrolling Interests on the consolidated statements of operations, has been added back in the numerator as these OP units were included in the denominator for all years presented. Approximately 3.5 million and 1.0 million unvested restricted stock awards were outstanding as of September 30, 2019 and 2018, respectively. These securities were anti-dilutive, and, as a result, their impact was excluded from the weighted-average common shares used to calculate diluted EPS.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration