XML 20 R10.htm IDEA: XBRL DOCUMENT
v3.23.3

Earnings Per Share | 9 Months Ended
--- | ---
Sep. 30, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share A portion of the Company's non-vested share-based payment awards are considered participating securities and as such, the Company is required to use the two-class method for the computation of basic and diluted earnings per share. Under the two-class computation method, net losses are not allocated to participating securities unless the holder of the security has a contractual obligation to share in the losses. The non-vested share-based payment awards are not allocated losses as the awards do not have a contractual obligation to share in losses of the Company. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations for the three and nine months ended September 30, 2023 and 2022:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
BASIC |  |  |  |  |  |  |
Net income attributable to common shareholders | $ | 11,039 |  |  | $ | 21,776 |  |  | $ | 10,878 |  |  | $ | 70,441 |
Weighted-average number of common shares outstanding - basic | 290,291,609 |  |  | 277,535,717 |  |  | 290,187,124 |  |  | 281,559,058 |
Net income attributable to common shareholders - per common share basic | $ | 0.04 |  |  | $ | 0.08 |  |  | $ | 0.04 |  |  | $ | 0.25 |
DILUTED |  |  |  |  |  |  |
Net income attributable to common shareholders - basic | $ | 11,039 |  |  | $ | 21,776 |  |  | $ | 10,878 |  |  | $ | 70,441 |
Impact of assumed conversions | 15 |  |  | 11 |  |  | (63) |  |  | 147 |
Net income attributable to common shareholders | $ | 11,054 |  |  | $ | 21,787 |  |  | $ | 10,815 |  |  | $ | 70,588 |
Weighted-average common shares outstanding - basic | 290,291,609 |  |  | 277,535,717 |  |  | 290,187,124 |  |  | 281,559,058 |
Effect of dilutive securities: |  |  |  |  |  |  |
Shares issuable under forward sales agreements | — |  |  | — |  |  | — |  |  | 1,699,789 |
Unvested share-based payment awards | 136,054 |  |  | 139,371 |  |  | 133,032 |  |  | 491,877 |
Operating partnership units | 825,342 |  |  | 846,858 |  |  | 828,653 |  |  | 859,226 |
Weighted-average common shares outstanding - diluted | 291,253,005 |  |  | 278,521,946 |  |  | 291,148,809 |  |  | 284,609,950 |
Net income attributable to common shareholders - per common share diluted | $ | 0.04 |  |  | $ | 0.08 |  |  | $ | 0.04 |  |  | $ | 0.25 |
For per common share amounts, generally all incremental shares are considered anti-dilutive for periods that have a loss from continuing operations attributable to common shareholders. In addition, other common share equivalents may be anti-dilutive in certain periods. Calculation of dilutive earnings requires certain potentially dilutive shares to be excluded when the inclusion of such shares would be anti-dilutive. The following table summarizes the potentially dilutive shares excluded from the dilutive earnings per share calculation as the inclusion of such shares would be anti-dilutive:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Unvested share-based payment awards | — |  |  | — |  |  | — |  |  | 23,175 |
Preferred shares - Series C | 4,710,570 |  |  | 4,710,570 |  |  | 4,710,570 |  |  | 4,710,570 |

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 -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration