Earnings Per Share ("EPS")

9 Months Ended

Sep. 30, 2024

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, 2024 and 2023 (shares in thousands):


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator
Net (loss) income	$	(112,098)	$	(271,965)	$	21,955	$	(344,565)
Less: net (loss) income attributable to noncontrolling interests	(3,909)		(9,418)		4,865		(8,321)
Net (loss) income attributable to the Company	(108,189)		(262,547)		17,090		(336,244)
Allocation of earnings to participating securities	(252)		(213)		(642)		(655)
Numerator for basic and diluted EPS—net (loss) income attributable to common stockholders	$	(108,441)	$	(262,760)	$	16,448	$	(336,899)
Denominator



Denominator for basic and diluted EPS—weighted average number of common shares outstanding(1)	218,420		215,632		216,884		215,461
EPS—net (loss) income attributable to common stockholders
Basic and diluted	$	(0.50)	$	(1.22)	$	0.08	$	(1.56)

(1) Diluted EPS excludes 99,565 convertible preferred units for each of the three months ended September 30, 2024 and 2023 and 99,565 convertible preferred partnership units for each of the nine months ended September 30, 2024 and 2023, as their impact was antidilutive. Diluted EPS also excludes 9,987,209 and 8,979,065 Operating Partnership units ("OP Units") for the three months ended September 30, 2024 and 2023, respectively, and 10,060,498 and 8,981,061 OP Units for the nine months ended September 30, 2024 and 2023, respectively, as their impact was antidilutive.