| Earnings Per Share |
14. Earnings per Share
The following table summarizes the components used in the calculation of basic and diluted earnings per share (“EPS”):
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For the three months ended
June 30, |
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For the six months ended
June 30, |
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(in thousands, except per share) |
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2017 |
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2016 |
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2017 |
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2016 |
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Basic earnings: |
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Net earnings attributable to Broadstone Net Lease, Inc. |
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$ |
14,727 |
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$ |
4,818 |
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$ |
27,320 |
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$ |
9,916 |
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Diluted earnings: |
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Net earnings attributable to Broadstone Net Lease, Inc. |
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$ |
14,727 |
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$ |
4,818 |
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$ |
27,320 |
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$ |
9,916 |
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Net earnings attributable to non-controlling interests |
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1,265 |
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538 |
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2,418 |
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1,141 |
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$ |
15,992 |
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$ |
5,356 |
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$ |
29,738 |
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$ |
11,057 |
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Basic and diluted weighted average shares outstanding: |
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Weighted average number of common shares outstanding used in
basic earnings per share |
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16,623 |
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12,766 |
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16,102 |
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12,284 |
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Effects of convertible membership units |
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1,428 |
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1,427 |
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1,428 |
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1,411 |
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Weighted average number of common shares outstanding used in
diluted earnings per share |
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18,051 |
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14,193 |
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17,530 |
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13,695 |
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Basic and diluted net earnings per common share |
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$ |
0.89 |
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$ |
0.38 |
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$ |
1.70 |
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$ |
0.81 |
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In the table above, outstanding membership units in the Operating Company are included in the diluted earnings per share calculation. However, because such membership units would also require that the share of the Operating Company income attributable to such membership units also be added back to net income, there is no effect on EPS.
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