8. Earnings Per Share

Medical Properties Trust, Inc.

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

	For the Three Months Ended June 30,
	2018			2017
Numerator:
Net income	$	112,017		$	73,796
Non-controlling interests’ share in net income		(450	)		(381	)
Participating securities’ share in earnings		(323	)		(100	)
Net income, less participating securities’ share in earnings	$	111,244		$	73,315
Denominator:
Basic weighted-average common shares		364,897			349,856
Dilutive potential common shares		644			463
Dilutive weighted-average common shares		365,541			350,319

	For the Six Months Ended June 30,
	2018			2017
Numerator:
Net income	$	203,060		$	141,981
Non-controlling interests’ share in net income		(892	)		(596	)
Participating securities’ share in earnings		(518	)		(225	)
Net income, less participating securities’ share in earnings	$	201,650		$	141,160
Denominator:
Basic weighted-average common shares		364,889			335,456
Dilutive potential common shares		553			415
Dilutive weighted-average common shares		365,442			335,871

MPT Operating Partnership, L.P.

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

	For the Three Months Ended June 30,
	2018			2017
Numerator:
Net income	$	112,017		$	73,796
Non-controlling interests’ share in net income		(450	)		(381	)
Participating securities’ share in earnings		(323	)		(100	)
Net income, less participating securities’ share in earnings	$	111,244		$	73,315
Denominator:
Basic weighted-average units		364,897			349,856
Dilutive potential units		644			463
Diluted weighted-average units		365,541			350,319

	For the Six Months Ended June 30,
	2018			2017
Numerator:
Net income	$	203,060		$	141,981
Non-controlling interests’ share in net income		(892	)		(596	)
Participating securities’ share in earnings		(518	)		(225	)
Net income, less participating securities’ share in earnings	$	201,650		$	141,160
Denominator:
Basic weighted-average units		364,889			335,456
Dilutive potential units		553			415
Diluted weighted-average units		365,442			335,871