Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of computation of basic and diluted earnings per share

The following table sets forth the net income attributable to the Company, its common shares outstanding, and its participating securities outstanding. There were no contractual dividends paid for the years ended December 31, 2021, 2022, and 2023.


	Basic and Diluted EPS
	For the Year Ended December 31,
			2021		2022		2023
		(in thousands)
Net income			$	499,949	$	198,026	$	299,731
Less: net income attributable to non-controlling interests			97,724		39,032		56,240
Net income attributable to the Company			402,225		158,994		243,491
Less: Distributed and undistributed income attributable to participating securities			13,435		5,609		8,773
Distributed and undistributed income attributable to common shares			$	388,790	$	153,385	$	234,718

The following tables set forth the computation of EPS under the two-class method:


	For the Year Ended December 31, 2021
	Net Income Allocation		Shares(1)	Basic and Diluted EPS
	(in thousands, except for per share amounts)
Common shares	$	388,790	130,249	$	2.98
Participating securities	13,435		4,501	2.98
Total Company	$	402,225


	For the Year Ended December 31, 2022
	Net Income Allocation		Shares(1)	Basic and Diluted EPS
	(in thousands, except for per share amounts)
Common shares	$	153,385	124,628	$	1.23
Participating securities	5,609		4,557	1.23
Total Company	$	158,994


	For the Year Ended December 31, 2023
	Net Income Allocation		Shares(1)	Basic and Diluted EPS
	(in thousands, except for per share amounts)
Common shares	$	234,718	123,105	$	1.91
Participating securities	8,773		4,601	$	1.91
Total Company	$	243,491

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(1) Represents the weighted average share count outstanding during the period.