Earnings Per Share

The following is a reconciliation of basic and diluted earnings per common share (in thousands, except share and per-share data):



	For the year ended December 31,
	2017			2016			2015
Numerator:
Net income (loss) attributable to common shareholders	$	83,794		$	46,952		$	68,718
Less: dividends paid on unvested share-based compensation	(415		)	(483		)	(432		)
Net income (loss) available to common shareholders	$	83,379		$	46,469		$	68,286
Denominator:
Weighted-average number of common shares — basic	69,591,973			71,901,499			71,715,870
Effect of dilutive share-based compensation	392,864			471,743			668,419
Weighted-average number of common shares — diluted	69,984,837			72,373,242			72,384,289

Net income (loss) per share available to common shareholders — basic	$	1.20		$	0.65		$	0.95
Net income (loss) per share available to common shareholders — diluted	$	1.19		$	0.64		$	0.94

For the years ended December 31, 2017, 2016 and 2015, 6,319, 114,889 and zero respectively, of unvested service condition restricted shares and performance-based equity awards were excluded from diluted weighted-average common shares, as their effect would have been anti-dilutive. The LTIP units held by the non-controlling interest holders have been excluded from the denominator of the diluted earnings per share as there would be no effect on the amounts since the limited partners' share of income (loss) would also be added or subtracted to derive net income (loss) available to common shareholders.