Numerator:

Net income attributable to controlling interests

$

111,296

$

102,845

Preferred stock and preferred unit dividends and discount accretion

(23,928

)

(25,198

)

Net income attributable to common shareholders—basic

87,368

77,647

Effect of dilutive preferred stock dividends and discount accretion

2,400

Net income attributable to common shareholders—diluted

$

89,768

$

80,047

Denominator:

Basic (including unvested share-based payment awards) (1)

14,748

14,504

Effect of dilutive stock compensation arrangements and exchange of preferred stock

4,053

4,378

Diluted (including unvested share-based payment awards) (1)

18,801

18,882

Net income attributable to common shareholders per share—basic

$

5.92

$

5.35

Net income attributable to common shareholders per share—diluted

$

4.77

$

4.24