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Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 2018

Earnings Per Common Share

Schedule of impact to the diluted weighted average number of shares of common stock related to the RSUs

		Number of underlying		Three Months Ended June 30,				Six Months Ended June 30,
		shares		2018		2017		2018		2017
2009 Incentive Plan		200,000		—		113,584	(a)	—		113,584	(a)
2016 Incentive Plan		76,250	(b)	74,245	(c)	—		74,245	(c)	—

(a) RSUs with respect to 113,584 shares vested in June 2017 and such shares were issued in August 2017.

(b) Awarded on September 26, 2017.

(c) Includes 36,120 shares that would be issued pursuant to a return on capital performance metric and 38,125 shares that would be issued pursuant to a stockholder return metric, assuming the end of the quarterly period was the June 30, 2020 vesting date. Excludes 2,005 shares subject to the capital performance metric as such metric was not met. See Note 13 for information regarding the Company’s equity incentive plans.

Schedule of reconciliation of the numerator and denominator of earnings per share calculations

The following table provides a reconciliation of the numerator and denominator of earnings per share calculations (amounts in thousands, except per share amounts):

		Three Months Ended June 30,						Six Months Ended June 30,
		2018			2017			2018			2017
Numerator for basic and diluted earnings per share:
Net income		$	4,546		$	9,993		$	11,199		$	12,879
Less net income attributable to non-controlling interests		(29		)	(21		)	(831		)	(42		)
Less earnings allocated to unvested restricted stock (a)		(293		)	(332		)	(586		)	(533		)
Net income available for common stockholders: basic and diluted		$	4,224		$	9,640		$	9,782		$	12,304
Denominator for basic earnings per share:
Weighted average number of common shares		18,519			17,824			18,458			17,788
Effect of dilutive securities:
RSUs		74			114			74			114
Denominator for diluted earnings per share:
Weighted average number of shares		18,593			17,938			18,532			17,902
Earnings per common share, basic		$	.23		$	.54		$	.53		$	.69
Earnings per common share, diluted		$	.23		$	.54		$	.53		$	.69
Net income attributable to One Liberty Properties, Inc. common stockholders, net of non-controlling interests		$	4,517		$	9,972		$	10,368		$	12,837

(a) Represents an allocation of distributed earnings to unvested restricted stock which, as participating securities, are entitled to receive dividends.

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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/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

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