8. Earnings Per Share/Common Unit

Medical Properties Trust, Inc.

Our earnings per share were calculated based on the following (in thousands):


	For the Three Months Ended September 30,
	2017			2016
Numerator:
Net income	$	76,881		$	70,543
Non-controlling interests’ share in net income		(417	)		(185	)
Participating securities’ share in earnings		(82	)		(154	)

Net income, less participating securities’ share in earnings	$	76,382		$	70,204

Denominator:
Basic weighted-average common shares		364,315			246,230
Dilutive potential common shares		731			1,238

Dilutive weighted-average common shares		365,046			247,468


	For the Nine Months Ended September 30,
	2017			2016
Numerator:
Income from continuing operations	$	218,862		$	182,693
Non-controlling interests’ share in continuing operations		(1,013	)		(683	)
Participating securities’ share in earnings		(307	)		(430	)

Income from continuing operations, less participating securities’share in earnings		217,542			181,580
Loss from discontinued operations attributable to MPT common stockholders		—			(1	)

Net income, less participating securities’ share in earnings	$	217,542		$	181,579

Denominator:
Basic weighted-average common shares		345,076			240,607
Dilutive potential common shares		520			825

Dilutive weighted-average common shares		345,596			241,432

MPT Operating Partnership, L.P.

Our earnings per common unit were calculated based on the following (in thousands):


	For the Three Months Ended September 30,
	2017			2016
Numerator:
Net income	$	76,881		$	70,543
Non-controlling interests’ share in net income		(417	)		(185	)
Participating securities’ share in earnings		(82	)		(154	)

Net income, less participating securities’ share in earnings	$	76,382		$	70,204

Denominator:
Basic weighted-average units		364,315			246,230
Dilutive potential units		731			1,238

Dilutive weighted-average units		365,046			247,468


	For the Nine Months Ended September 30,
	2017			2016
Numerator:
Income from continuing operations	$	218,862		$	182,693
Non-controlling interests’ share in continuing operations		(1,013	)		(683	)
Participating securities’ share in earnings		(307	)		(430	)

Income from continuing operations, less participating securities’ share in earnings		217,542			181,580
Loss from discontinued operations attributable to MPT Operating Partnership partners		—			(1	)

Net income, less participating securities’ share in earnings	$	217,542		$	181,579

Denominator:
Basic weighted-average units		345,076			240,607
Dilutive potential units		520			825

Dilutive weighted-average units		345,596			241,432