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Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Common Share

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

​

​	​	​	​	​	​	​	​	​	​	​
Three Months Ended March 31, 2020 (a):
​	​	Total Number of	​	Return on	​	Stockholder	​	​	​	Shares
Date of Award		Underlying Shares (b)(c)	​	Capital Metric	​	Return Metric	​	Total	​	Excluded (d)
September 26, 2017		76,250		26,036		—		26,036		50,214
July 1, 2018		73,750		20,423		—		20,423		53,327
July 1, 2019		75,026		12,261		—		12,261		62,765
Totals		225,026		58,720		—		58,720		166,306

​

​	​	​	​	​	​	​	​	​	​	​
Three Months Ended March 31, 2019 (e):
​	​	Total Number of	​	Return on	​	Stockholder	​	​	​	Shares
Date of Award		Underlying Shares (b)	​	Capital Metric	​	Return Metric	​	Total	​	Excluded (d)
September 26, 2017		76,250		33,611		38,125		71,736		4,514
July 1, 2018		76,250		31,344		38,125		69,469		6,781
Totals		152,500		64,955		76,250		141,205		11,295

​

(a) Reflects the number of shares underlying RSUs that would be issued assuming the measurement date used to determine whether the applicable conditions are satisfied is March 31, 2020.

(b) The RSUs awarded in 2017, 2018 and 2019 vest, subject to satisfaction of the applicable market and/or performance conditions, on June 30, 2020, 2021 and 2022, respectively (see Note 13).

(c) As of March 31, 2020, 2,500 shares of the 2018 award and 2,750 shares of the 2019 award were forfeited.

​

Note 12 – Earnings Per Common Share (Continued)

(d) Excluded as the applicable conditions had not been met for these shares at the respective measurement dates.

(e) Reflects the number of shares underlying RSUs that would be issued assuming the measurement date used to determine whether the applicable conditions are satisfied is March 31, 2019.

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
​	​	​	March 31,
​	​		2020		​	2019
Numerator for basic and diluted earnings per share:	​				​
Net income	​	$	7,831	​	$	4,011
Less net income attributable to non-controlling interests	​		(5)	​		(40)
Less earnings allocated to unvested restricted stock (a)	​		(316)	​		(311)
Net income available for common stockholders: basic and diluted	​	$	7,510	​	$	3,660
​	​	​	​	​	​	​
Denominator for basic earnings per share:	​			​
Weighted average number of common shares	​		19,361	​		18,894
Effect of dilutive securities:	​			​
RSUs	​		13	​		99
Denominator for diluted earnings per share:	​			​
Weighted average number of shares	​		19,374	​		18,993
​	​	​	​	​	​	​
Earnings per common share, basic	​	$	.39	​	$	.19
Earnings per common share, diluted	​	$	.39	​	$	.19

​

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

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- References

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
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- Definition

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
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