Earnings Per Share

3 Months Ended

Mar. 31, 2018

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,
		2018		2017
Numerator for basic and diluted earnings
	per share - net income (loss) attributable
	to common stockholders	$	437,671	$	312,639

Denominator for basic earnings per
	share - weighted average shares		371,426		362,534
Effect of dilutive securities:
	Employee stock options		15		70
	Non-vested restricted shares		720		397
	Redeemable shares		1,096		1,651
Dilutive potential common shares			1,831		2,118
Denominator for diluted earnings per
	share - adjusted weighted average shares		373,257		364,652

Basic earnings per share		$	1.18	$	0.86
Diluted earnings per share		$	1.17	$	0.86

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.