Earnings Per Share ("EPS")

9 Months Ended

Sep. 30, 2021

Earnings Per Share ("EPS"):

The following table reconciles the numerator and denominator used in the computation of EPS for the three and nine months ended September 30, 2021 and 2020 (shares in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator
Net income (loss)	$	112,959	$	(22,622)	$	41,167	$	(40,618)
Less net income (loss) attributable to noncontrolling interests	6,257		(431)		9,834		(833)
Net income (loss) attributable to the Company	106,702		(22,191)		31,333		(39,785)
Allocation of earnings to participating securities	(290)		(215)		(641)		(834)
Numerator for basic and diluted EPS—net income (loss) attributable to common stockholders	$	106,412	$	(22,406)	$	30,692	$	(40,619)
Denominator



Denominator for basic and diluted EPS—weighted average number of common shares outstanding(1)	213,214		149,626		192,717		145,071
EPS—net income (loss) attributable to common stockholders
Basic and diluted	$	0.50	$	(0.15)	$	0.16	$	(0.28)

(1) Diluted EPS excludes 101,799 and 103,235 for the three months ended September 30, 2021 and 2020, respectively, and 102,751 and 96,144 convertible preferred partnership units for the nine months ended September 30, 2021 and 2020, respectively, as their impact was antidilutive. Diluted EPS also excludes 9,818,917 and 10,883,761 Operating Partnership units ("OP Units") for the three months ended September 30, 2021 and 2020, respectively, and 10,160,575 and 10,622,971 OP Units for the nine months ended September 30, 2021 and 2020, respectively, as their impact was antidilutive.