v3.21.2

Earnings per Share (Tables) | 9 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
Summary of Components used in Calculation of Basic and Diluted Earnings per Share | The following table summarizes the components used in the calculation of basic and diluted earnings per share (“EPS”):
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
(in thousands, except per share amounts) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Basic earnings: |  |  |  |  |  |  |  |  |  |  |  |
Net earnings attributable to Broadstone Net Lease, Inc. common shareholders |  | $ | 28,698 |  |  | $ | 8,750 |  |  | $ | 72,135 |  |  | $ | 34,919 |
Less earnings allocated to unvested restricted shares |  |  | (95 | ) |  |  | (46 | ) |  |  | (296 | ) |  |  | (46 | )
Net earnings used to compute basic earnings per common share |  | $ | 28,603 |  |  | $ | 8,704 |  |  | $ | 71,839 |  |  | $ | 34,873 |
Diluted earnings: |  |  |  |  |  |  |  |  |  |  |  |
Net earnings used to compute basic earnings per share |  | $ | 28,603 |  |  | $ | 8,704 |  |  | $ | 71,839 |  |  | $ | 34,873 |
Net earnings attributable to non-controlling interests |  |  | 1,824 |  |  |  | 961 |  |  |  | 5,167 |  |  |  | 3,738 |
Net earnings used to compute diluted earnings per common share |  | $ | 30,427 |  |  | $ | 9,665 |  |  | $ | 77,006 |  |  | $ | 38,611 |
Weighted average number of common shares outstanding |  |  | 159,604 |  |  |  | 111,371 |  |  |  | 150,593 |  |  |  | 108,300 |
Less weighted average unvested restricted shares (a) |  |  | (378 | ) |  |  | (216 | ) |  |  | (366 | ) |  |  | (72 | )
Weighted average number of common shares outstanding used in basic earnings per common share |  |  | 159,226 |  |  |  | 111,155 |  |  |  | 150,227 |  |  |  | 108,228 |
Effects of restricted stock units (b) |  |  | 219 |  |  |  | — |  |  |  | 172 |  |  |  | — |
Effects of convertible membership units (c) |  |  | 10,142 |  |  |  | 12,226 |  |  |  | 10,874 |  |  |  | 11,519 |
Weighted average number of common shares outstanding used in diluted earnings per common share |  |  | 169,587 |  |  |  | 123,381 |  |  |  | 161,273 |  |  |  | 119,747 |
Basic earnings per share |  | $ | 0.18 |  |  | $ | 0.08 |  |  | $ | 0.48 |  |  | $ | 0.32 |
Diluted earnings per share |  | $ | 0.18 |  |  | $ | 0.08 |  |  | $ | 0.48 |  |  | $ | 0.32 |
(a) Represents the weighted average effects of 374 and 341 unvested restricted shares of common stock as of September 30, 2021 and 2020, respectively, which will be excluded from the computation of earnings per share until they vest. The shares of restricted common stock were not included in the calculation of diluted earnings per share, as the effect of doing so would have been anti-dilutive. (b) Represents the weighted average effects of shares of common stock to be issued as though the end of the period were the end of the performance period (see Note 15). (c) Represents the weighted average effects of 10,370 and 12,226 OP Units outstanding at September 30, 2021 and 2020, respectively. OP Units are included in the diluted earnings per share calculation. However, because such OP Units would also require that the share of the net income attributable to such OP units also be added back to net income, there is no effect to EPS.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
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