Net Income per Common Share

6 Months Ended

Jun. 30, 2023

Net Income per Common ShareBasic net income per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted net income per common share is computed by dividing net income available to common stockholders, plus income attributable to dilutive shares and convertible common units for the period, by the weighted average number of common shares that would have been outstanding assuming the issuance of common shares for all potentially dilutive common shares outstanding during the reporting period.

The following is a reconciliation of the denominator of the basic net income per common share computation to the denominator of the diluted net income per common share computation (shares in thousands):


	Three months ended June 30,		Six months ended June 30,
		2023	2022	2023	2022
Weighted average shares used for the basic net income per share computation		674,109	601,672	667,357	597,778
Incremental shares from share-based compensation		409	359	392	363
Dilutive effect of forward ATM offerings		75	—	359	—
Weighted average shares used for diluted net income per share computation		674,593	602,031	668,108	598,141
Unvested shares from share-based compensation that were anti-dilutive		182	16	147	16
Weighted average partnership common units convertible to common shares that were anti-dilutive		1,795	1,061	1,795	1,061
Weighted average forward ATM offerings that were anti-dilutive		322	—	223	—