Earnings per Share ("EPS")

6 Months Ended

Jun. 30, 2016

Earnings per Share ("EPS"):

The following table reconciles the numerator and denominator used in the computation of earnings per share for the three and six months ended June 30, 2016 and 2015 (shares in thousands):



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2016			2015			2016			2015
Numerator
Net income	$	49,434		$	15,746		$	500,809		$	42,413
Net income attributable to noncontrolling interests	(4,212		)	(1,351		)	(34,672		)	(3,407		)
Net income attributable to the Company	45,222			14,395			466,137			39,006
Allocation of earnings to participating securities	(170		)	(147		)	(557		)	(295		)
Numerator for basic and diluted earnings per share—net income attributable to common stockholders	$	45,052		$	14,248		$	465,580		$	38,711
Denominator
Denominator for basic earnings per share—weighted average number of common shares outstanding	146,644			158,501			149,314			158,419
Effect of dilutive securities:(1)
Share and unit-based compensation plans	125			132			145			168
Denominator for diluted earnings per share—weighted average number of common shares outstanding	146,769			158,633			149,459			158,587
Earnings per common share—net income attributable to common stockholders:
Basic	$	0.31		$	0.09		$	3.12		$	0.24
Diluted	$	0.31		$	0.09		$	3.12		$	0.24


(1)	Diluted EPS excludes 138,759 convertible preferred units for the three months ended June 30, 2016 and 2015, and 138,759 and 139,620 convertible preferred units for the six months ended June 30, 2016 and 2015, respectively, as their impact was antidilutive.

Diluted EPS excludes 10,833,354 and 10,577,945 Operating Partnership units ("OP Units") for the three months ended June 30, 2016 and 2015, respectively, and 10,826,849 and 10,547,401 OP Units for the six months ended June 30, 2016 and 2015, respectively, as their impact was antidilutive.