| Reconciliation of the Numerator and Denominator Used in the Computation of Basic and Diluted Income Per Share |
The table below is a reconciliation of the numerator and denominator used in the computation of basic and diluted net income per share and unit computed using the two-class method (dollars in thousands):
|
|
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
|
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
Basic and diluted income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations |
|
$ |
45,737 |
|
|
$ |
24,817 |
|
|
$ |
89,315 |
|
|
$ |
62,895 |
|
|
Less: dividends paid to preferred stockholders |
|
|
(2,588 |
) |
|
|
(2,588 |
) |
|
|
(5,176 |
) |
|
|
(5,176 |
) |
|
Less: income attributable to unvested restricted stock |
|
|
(250 |
) |
|
|
(345 |
) |
|
|
(522 |
) |
|
|
(728 |
) |
|
Income used in basic and diluted income per share from continuing operations |
|
|
42,899 |
|
|
|
21,884 |
|
|
|
83,617 |
|
|
|
56,991 |
|
|
Loss used in basic and diluted loss per share from discontinued operations |
|
|
— |
|
|
|
(7,653 |
) |
|
|
— |
|
|
|
(15,013 |
) |
|
Net income attributable to common stockholders used in basic and diluted income per share |
|
$ |
42,899 |
|
|
$ |
14,231 |
|
|
$ |
83,617 |
|
|
$ |
41,978 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average shares of common stock outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares of common stock outstanding |
|
|
87,422,369 |
|
|
|
86,028,575 |
|
|
|
86,673,672 |
|
|
|
87,653,364 |
|
|
Less: Unvested weighted average shares of restricted stock |
|
|
(420,382 |
) |
|
|
(401,251 |
) |
|
|
(419,974 |
) |
|
|
(361,647 |
) |
|
Weighted average shares of common stock outstanding used in basic income per share |
|
|
87,001,987 |
|
|
|
85,627,324 |
|
|
|
86,253,698 |
|
|
|
87,291,718 |
|
|
Net income per share attributable to common stockholders - basic: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
$ |
0.49 |
|
|
$ |
0.26 |
|
|
$ |
0.97 |
|
|
$ |
0.65 |
|
|
Discontinued operations |
|
|
— |
|
|
|
(0.09 |
) |
|
|
— |
|
|
|
(0.15 |
) |
|
Net income per share attributable to common stockholders - basic |
|
$ |
0.49 |
|
|
$ |
0.17 |
|
|
$ |
0.97 |
|
|
$ |
0.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dilutive weighted average shares of common stock outstanding: (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unsettled shares under open forward equity contracts |
|
|
772,040 |
|
|
|
— |
|
|
|
328,617 |
|
|
|
— |
|
|
Unvested market-based awards |
|
|
116,672 |
|
|
|
176,939 |
|
|
|
196,982 |
|
|
|
111,512 |
|
|
Weighted average shares of common stock outstanding used in diluted income per share |
|
|
87,890,699 |
|
|
|
85,804,263 |
|
|
|
86,779,297 |
|
|
|
87,403,230 |
|
|
Net income per share attributable to common stockholders - diluted |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
$ |
0.49 |
|
|
$ |
0.26 |
|
|
$ |
0.96 |
|
|
$ |
0.65 |
|
|
Discontinued operations |
|
|
— |
|
|
|
(0.09 |
) |
|
|
— |
|
|
|
(0.15 |
) |
|
Net income per share attributable to common stockholders - diluted |
|
$ |
0.49 |
|
|
$ |
0.17 |
|
|
$ |
0.96 |
|
|
$ |
0.50 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Potentially dilutive shares of common stock |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unvested shares of restricted stock, less shares assumed repurchased at market |
|
|
160,606 |
|
|
|
84,847 |
|
|
|
191,215 |
|
|
|
67,796 |
|
|
(1) |
Assumes the most dilutive issuance of potentially issuable shares between the two-class and treasury stock method unless the result would be anti-dilutive. |
|