Earnings Per Share

3 Months Ended

Mar. 31, 2017

15. Earnings Per Share

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


		Three Months Ended
		March 31,
		2017		2016
Numerator for basic and diluted earnings
	per share - net income (loss) attributable
	to common stockholders	$	312,639	$	148,969

Denominator for basic earnings per
	share - weighted average shares		362,534		355,076
Effect of dilutive securities:
	Employee stock options		70		101
	Non-vested restricted shares		397		253
	Redeemable shares		1,651		621
Dilutive potential common shares			2,118		975
Denominator for diluted earnings per
	share - adjusted weighted average shares		364,652		356,051

Basic earnings per share		$	0.86	$	0.42
Diluted earnings per share		$	0.86	$	0.42

The Series I Cumulative Convertible Perpetual Preferred Stock was not included in the calculations as the effect of conversions into common stock was anti-dilutive.