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Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share 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 September 30,Nine Months Ended September 30,
 2024202320242023
Numerator for basic earnings per share - net income (loss) attributable to common stockholders
$449,849 $127,470 $831,709 $256,183 
Adjustment for net income (loss) attributable to OP Units and DownREIT Units1,221 64 1,235 (103)
Numerator for diluted earnings per share
$451,070 $127,534 $832,944 $256,080 
Denominator for basic earnings per share - weighted average shares611,290 521,848 595,353 504,420 
Effect of dilutive securities:
Employee stock options
370 39 181 24 
Non-vested restricted shares and units2,517 1,141 1,686 968 
OP Units and DownREIT Units
2,123 2,085 2,192 1,914 
Employee stock purchase program
22 25 22 27 
2028 Exchangeable Notes1,984 — 757 — 
Dilutive potential common shares7,016 3,290 4,838 2,933 
Denominator for diluted earnings per share - adjusted weighted average shares
618,306 525,138 600,191 507,353 
Basic earnings per share$0.74 $0.24 $1.40 $0.51 
Diluted earnings per share$0.73 $0.24 $1.39 $0.50 
The 2028 Exchangeable Notes were not included in the computation of diluted earnings per share for the three and nine months ended September 30, 2023 as they were anti-dilutive. The 2029 Exchangeable Notes issued in 2024 were not included in the computation of diluted earnings per share for the three and nine months ended September 30, 2024 as they were anti-dilutive.