Earnings Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

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

	For the three months ended September 30,				For the nine months ended September 30,
	2020		2019		2020		2019
Numerator:
Net income (loss) attributable to common shareholders	$	(138,446)	$	21,752	$	(243,288)	$	71,482
Less: dividends paid on unvested share-based compensation	(2)		(74)		(6)		(220)
Net income (loss) available to common shareholders	$	(138,448)	$	21,678	$	(243,294)	$	71,262
Denominator:
Weighted-average number of common shares — basic	130,645,990		130,484,956		130,588,765		130,467,193
Effect of dilutive share-based compensation	—		137,174		—		223,149
Weighted-average number of common shares — diluted	130,645,990		130,622,130		130,588,765		130,690,342
Net income (loss) per share available to common shareholders — basic	$	(1.06)	$	0.17	$	(1.86)	$	0.55
Net income (loss) per share available to common shareholders — diluted	$	(1.06)	$	0.17	$	(1.86)	$	0.55

For the three and nine months ended September 30, 2020, 547,203 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. For the three and nine months ended September 30, 2019, 128,563 and 37,137, 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 and OP 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.