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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2016
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE AND UNIT Urban Edge Earnings per Share We have calculated earnings per share (“EPS”) under the two-class method. The two-class method is an earnings allocation methodology whereby EPS for each class of Urban Edge common shares and participating securities is calculated according to dividends declared and participating rights in undistributed earnings. Restricted shares issued pursuant to our share-based compensation program are considered participating securities, and as such have non-forfeitable rights to receive dividends. The following table sets forth the computation of our basic and diluted earnings per share:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(Amounts in thousands, except per share amounts) | 2016 |  | 2015 |  | 2016 |  | 2015
Numerator: |  |  |  |  |  |  |
Net income attributable to common shareholders | $ | 19,265 |  |  | $ | 18,860 |  |  | $ | 71,771 |  |  | $ | 23,559 |
Less: Earnings allocated to unvested participating securities | (26 | ) |  | (7 | ) |  | (88 | ) |  | (16 | )
Net income available for common shareholders | $ | 19,239 |  |  | $ | 18,853 |  |  | $ | 71,683 |  |  | $ | 23,543 |
Denominator: |  |  |  |  |  |  |
Weighted average common shares outstanding - basic | 99,304 |  |  | 99,252 |  |  | 99,281 |  |  | 99,250 |
Effect of dilutive securities(1): |  |  |  |  |  |  |
Stock options using the treasury stock method | 436 |  |  | — |  |  | 259 |  |  | 22 |
Restricted stock | 130 |  |  | 34 |  |  | 109 |  |  | — |
Assumed conversion of LTIP units | — |  |  | — |  |  | 62 |  |  | — |
Weighted average common shares outstanding - diluted | 99,870 |  |  | 99,286 |  |  | 99,711 |  |  | 99,272 |
Earnings per share available to common shareholders: |  |  |  |  |  |  |
Earnings per common share - Basic | $ | 0.19 |  |  | $ | 0.19 |  |  | $ | 0.72 |  |  | $ | 0.24 |
Earnings per common share - Diluted | $ | 0.19 |  |  | $ | 0.19 |  |  | $ | 0.72 |  |  | $ | 0.24 |
(1) For the three months ended September 30, 2016 and 2015 and the nine months ended September 30, 2015, the effect of the redemption of OP and LTIP units would have an anti-dilutive effect on the calculation of diluted EPS. Accordingly, the impact of such conversion has not been included in the determination of diluted EPS for these periods. Additionally there were stock options outstanding that were excluded from the computation of diluted EPS for the three months ended September 30, 2015 as their inclusion would be anti-dilutive. Operating Partnership Earnings per Unit The following table sets forth the computation of basic and diluted earnings per unit:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(Amounts in thousands, except per unit amounts) | 2016 |  | 2015 |  | 2016 |  | 2015
Numerator: |  |  |  |  |  |  |
Net income attributable to unitholders | $ | 20,504 |  |  | $ | 20,039 |  |  | $ | 76,365 |  |  | $ | 25,164 |
Less: net income attributable to participating securities | (43 | ) |  | (25 | ) |  | (174 | ) |  | (62 | )
Net income available for unitholders | $ | 20,461 |  |  | $ | 20,014 |  |  | $ | 76,191 |  |  | $ | 25,102 |
Denominator: |  |  |  |  |  |  |
Weighted average units outstanding - basic | 105,404 |  |  | 105,312 |  |  | 105,370 |  |  | 105,262 |
Effect of dilutive securities issued by Urban Edge | 566 |  |  | 34 |  |  | 368 |  |  | 22 |
Unvested LTIP units | — |  |  | — |  |  | 62 |  |  | — |
Weighted average units outstanding - diluted | 105,970 |  |  | 105,346 |  |  | 105,800 |  |  | 105,284 |
Earnings per unit available to unitholders: |  |  |  |  |  |  |
Earnings per unit - Basic | $ | 0.19 |  |  | $ | 0.19 |  |  | $ | 0.72 |  |  | $ | 0.24 |
Earnings per unit - Diluted | $ | 0.19 |  |  | $ | 0.19 |  |  | $ | 0.72 |  |  | $ | 0.24 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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