XML 35 R24.htm IDEA: XBRL DOCUMENT
v3.23.1

Earnings Per Share ("EPS") | 3 Months Ended
--- | ---
Mar. 31, 2023
Earnings Per Share [Abstract] |
Earnings Per Share (“EPS”) | Earnings Per Share (“EPS”) We present both basic and diluted EPS. We compute basic EPS by dividing net income available to common shareholders allocable to unrestricted common shares under the two-class method by the weighted average number of unrestricted common shares outstanding during the period. Our computation of diluted EPS is similar except that: •the denominator is increased to include: (1) the weighted average number of potential additional common shares that would have been outstanding if securities that are convertible into common shares were converted; and (2) the effect of dilutive potential common shares outstanding during the period attributable to redeemable noncontrolling interests and share-based compensation awards using the if-converted or treasury stock methods; and •the numerator is adjusted to add back any changes in income or loss that would result from the assumed conversion into common shares that we add to the denominator. Summaries of the numerator and denominator for purposes of basic and diluted EPS calculations are set forth below (in thousands, except per share data):
| For the Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Numerator: |  |  |  |  |  |  |
Income from continuing operations | $ | 80,398 |  |  | $ | 31,251 |  |  |  |  |
Income from continuing operations attributable to noncontrolling interests | (1,619) |  |  | (1,084) |  |  |  |  |
Income from continuing operations attributable to share-based compensation awards for basic EPS | (297) |  |  | (116) |  |  |  |  |
Numerator for basic EPS from continuing operations attributable to common shareholders | 78,482 |  |  | 30,051 |  |  |  |  |
Redeemable noncontrolling interests | (64) |  |  | (39) |  |  |  |  |
Adjustment to income from continuing operations attributable to share-based compensation awards for diluted EPS | 49 |  |  | 18 |  |  |  |  |
Numerator for diluted EPS from continuing operations attributable to common shareholders | 78,467 |  |  | 30,030 |  |  |  |  |
Discontinued operations | — |  |  | 29,573 |  |  |  |  |
Discontinued operations attributable to noncontrolling interests | — |  |  | (421) |  |  |  |  |
Income from discontinued operations attributable to share-based compensation awards for diluted EPS | — |  |  | (83) |  |  |  |  |
Numerator for diluted EPS on net income attributable to common shareholders | $ | 78,467 |  |  | $ | 59,099 |  |  |  |  |
Denominator (all weighted averages): |  |  |  |  |  |  |
Denominator for basic EPS (common shares) | 112,127 |  |  | 112,020 |  |  |  |  |
Dilutive effect of redeemable noncontrolling interests | 91 |  |  | 132 |  |  |  |  |
Dilutive effect of share-based compensation awards | 410 |  |  | 426 |  |  |  |  |
Denominator for diluted EPS (common shares) | 112,628 |  |  | 112,578 |  |  |  |  |
Basic EPS attributable to common shareholders: |  |  |  |  |  |  |
Income from continuing operations | $ | 0.70 |  |  | $ | 0.27 |  |  |  |  |
Discontinued operations | — |  |  | 0.26 |  |  |  |  |
Net income | $ | 0.70 |  |  | $ | 0.53 |  |  |  |  |
Diluted EPS attributable to common shareholders: |  |  |  |  |  |  |
Income from continuing operations | $ | 0.70 |  |  | $ | 0.27 |  |  |  |  |
Discontinued operations | — |  |  | 0.25 |  |  |  |  |
Net income | $ | 0.70 |  |  | $ | 0.52 |  |  |  |  |
Our diluted EPS computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPS for the respective periods (in thousands):
| Weighted Average Shares Excluded from Denominator
| For the Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Conversion of common units | 1,489 |  |  | 1,384 |  |  |  |  |
Conversion of redeemable noncontrolling interests | 972 |  |  | 806 |  |  |  |  |
The following securities were also excluded from the computation of diluted EPS because their effect was antidilutive: •weighted average restricted shares and deferred share awards for the three months ended March 31, 2023 and 2022 of 398,000 and 399,000, respectively; •weighted average TB-PIUs for the three months ended March 31, 2023 and 2022 of 181,000 and 172,000, respectively; and •weighted average vested PIUs for the three months ended March 31, 2023 of 103,000.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration