Earnings Per Common Share

The following summarizes the calculation of basic and diluted earnings per common share and provides a reconciliation of the amounts of net income available to common shareholders used in calculating basic and diluted earnings per common share:



	Three Months Ended June 30,					Six Months Ended June 30,
	2018			2017		2018			2017
	(In thousands, except per share amounts)
Net income	$	24,023		$	11,341	$	19,237		$	17,659
Net income attributable to redeemable noncontrolling interests	(3,574		)	—		(2,980		)	—
Net loss attributable to noncontrolling interests	125			—		127			—
Net income attributable to common shareholders	20,574			11,341		16,384			17,659
Distributions to participating securities	(218		)	—		(361		)	—
Net income available to common shareholders — basic and diluted	$	20,356		$	11,341	$	16,023		$	17,659

Weighted average number of common shares outstanding — basic and diluted ⁽¹⁾	117,955			100,571		117,955			100,571

Earnings per common share:
Basic	$	0.17		$	0.11	$	0.14		$	0.18
Diluted	$	0.17		$	0.11	$	0.14		$	0.18

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⁽¹⁾	For the three and six months ended June 30, 2017, reflects the weighted average common shares attributable to the Vornado Included Assets at the date of the Separation.

The effect of the redemption of OP Units that were outstanding as of June 30, 2018 is excluded in the computation of basic and diluted earnings per common share, as the assumed exchange of such units for common shares on a one-for-one basis was antidilutive (the assumed redemption of these units would have no impact on the determination of diluted earnings per share). Since vested and outstanding OP Units, which are held by noncontrolling interests, are attributed gains and losses at an identical proportion to the common shareholders, the gains and losses attributable and their equivalent weighted average OP Unit impact are excluded from net income available to common shareholders and from the weighted average number of common shares outstanding in calculating basic and diluted earnings per common share. For both the three and six months ended June 30, 2018, the number of additional securities excluded from the calculation of diluted earnings per common share as they were antidilutive, but potentially could be dilutive in the future was 21.7 million. There were no additional potentially dilutive securities for the three and six months ended June 30, 2017.