XML 38 R26.htm IDEA: XBRL DOCUMENT v3.23.3
Earnings Per Share (Tables)
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Reconciliation of Net Income and Number of Common Shares Used in Computations of "Basic" EPS and "Diluted" EPS

The following table provides a reconciliation of net income and the number of common shares used in the computations of “basic” earnings per share (“EPS”), which utilizes the weighted-average number of common shares outstanding without regard to dilutive potential common shares, and “diluted” EPS, which includes all such shares (in thousands, except per share amounts).

 

Three Months

 

 

Nine Months

 

 

Ended September 30,

 

 

Ended September 30,

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Numerators – Basic and Diluted

 

 

 

 

 

 

 

 

 

 

 

Net income

$

48,642

 

 

$

66,213

 

 

$

69,297

 

 

$

140,577

 

Income attributable to non-controlling interests

 

—

 

 

 

(18

)

 

 

(18

)

 

 

(55

)

Preferred dividends

 

(2,789

)

 

 

(2,789

)

 

 

(8,367

)

 

 

(8,367

)

Earnings attributable to unvested shares and OP Units

 

(100

)

 

 

(117

)

 

 

(295

)

 

 

(368

)

Net income attributable to common shareholders after
   allocation to participating securities

$

45,753

 

 

$

63,289

 

 

$

60,617

 

 

$

131,787

 

Denominators – Number of Shares

 

 

 

 

 

 

 

 

 

 

 

Basic—Average shares outstanding

 

209,286

 

 

 

213,846

 

 

 

209,505

 

 

 

213,278

 

Assumed conversion of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

PRSUs

 

113

 

 

 

341

 

 

 

241

 

 

 

441

 

OP Units

 

—

 

 

 

141

 

 

 

—

 

 

 

141

 

Diluted—Average shares outstanding

 

209,399

 

 

 

214,328

 

 

 

209,746

 

 

 

213,860

 

Earnings Per Share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

0.22

 

 

$

0.30

 

 

$

0.29

 

 

$

0.62

 

Diluted

$

0.22

 

 

$

0.30

 

 

$

0.29

 

 

$

0.62