Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings per common share – basic is computed using net income attributable to common shareholders and the weighted average number of shares outstanding – basic. Earnings per common share – diluted includes the effect of potentially dilutive securities. Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):



	Year Ended December 31,
	2019			2018			2017
Numerator:
Net income	$	322,575		$	345,343		$	350,715
Net income attributable to noncontrolling interests	(7,140		)	(17,742		)	(15,441		)
Net income attributable to common shareholders – basic	315,435			327,601			335,274
Income attributable to operating partnership units	2,112			—			3,084
Net income attributable to common shareholders – diluted	$	317,547		$	327,601		$	338,358
Denominator:
Weighted average shares outstanding – basic	127,842			127,651			127,755
Effect of dilutive securities:
Share options and awards	842			790			870
Operating partnership units	1,432			—			1,446
Weighted average shares outstanding – diluted	130,116			128,441			130,071

Anti-dilutive securities of our common shares, which are excluded from the calculation of earnings per common share – diluted, are as follows (in thousands):



	Year Ended December 31,
	2019	2018	2017
Operating partnership units	—	1,432	—
Total anti-dilutive securities	—	1,432	—