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Earnings Per Common Share
12 Months Ended
Dec. 31, 2019
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

21.    Earnings Per Common Share



The table below sets forth the computations of basic and diluted earnings per common share (in thousands, except per share data): 







 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

 

For the Years Ended December 31,



 

 

2019

 

 

2018

 

 

2017

Basic earnings per common share

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income 

 

$

32,103 

 

 

55,793 

 

 

102,303 

Less: Net income attributable to noncontrolling interests

 

 

14,412 

 

 

20,691 

 

 

18,378 

Net income available to shareholders

 

$

17,691 

 

 

35,102 

 

 

83,925 

Denominator:

 

 

 

 

 

 

 

 

 

Basic - weighted average number of common share outstanding

 

 

92,628 

 

 

95,298 

 

 

98,745 

Basic earnings per common share

 

$

0.19 

 

 

0.37 

 

 

0.85 

Diluted earnings per common share

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income available to shareholders

 

$

17,691 

 

 

35,102 

 

 

83,925 

Denominator:

 

 

 

 

 

 

 

 

 

Basic weighted average number of common shares outstanding

 

 

92,628 

 

 

95,298 

 

 

98,745 

Effect of dilutive restricted stock awards

 

 

1,026 

 

 

2,562 

 

 

5,171 

Diluted weighted average number of common shares outstanding

 

 

93,654 

 

 

97,860 

 

 

103,916 

Diluted earnings per common share

 

$

0.19 

 

 

0.36 

 

 

0.81 



During the year ended December 31, 2019, approximately 2,506,876 shares of unvested restricted stock awards were not included in the computation of diluted earnings per share because such awards were assumed to be fully repurchased under the treasury stock method based on the unrecognized compensation cost associated with such awards. During the years ended December 31, 2018 and 2017, there were no unvested restricted stock awards that were excluded from the computation of diluted earnings per share for such periods. During the year ended December 31, 2017, options to acquire 27,346 shares of Class A Common Stock were anti-dilutive.