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Note 17 - Earnings Per Share
 9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
Earnings Per Share [Text Block]
17.
Earnings Per Shar
e
 
The following table sets forth the reconciliation of earnings and the weighted average number of shares used in the calculation of basic and diluted earnings per share (amounts presented in thousands except per share data):
 
   
Three Months Ended
    
Nine
Months Ended
  
   
September
30
,
    
September
30
,
  
   
2018
    
2017
    
2018
    
2017
  
Computation of Basic and Diluted Earnings Per Share:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Net income available to the Company's common shareholders
   $
85,624
     $
101,957
     $
365,977
     $
298,996
  
Change in estimated redemption value of redeemable noncontrolling interests
    
(3,918
 )    
-
      
(3,918
 )    
-
  
Earnings attributable to participating securities
    
(604
 )    
(526
 )    
(1,818
 )    
(1,596
 )
Net income available to the Company’s common shareholders for basic earnings per share
    
81,102
      
101,431
      
360,241
      
297,400
  
Distributions on convertible units
    
-
      
24
      
683
      
43
  
Net income available to the Company’s common shareholders for diluted earnings per share
   $
81,102
     $
101,455
     $
360,924
     $
297,443
  
                                 
Weighted average common shares outstanding – basic
    
419,230
      
423,688
      
421,106
      
423,574
  
Effect of dilutive securities (1):
                                
Equity awards
    
534
      
513
      
515
      
556
  
Assumed conversion of convertible units
    
-
      
110
      
822
      
63
  
Weighted average common shares outstanding – diluted
    
419,764
      
424,311
      
422,443
      
424,193
  
                                 
Net income available to the Company's common shareholders:
                                
Basic earnings per share
   $
0.19
     $
0.24
     $
0.86
     $
0.70
  
Diluted earnings per share
   $
0.19
     $
0.24
     $
0.85
     $
0.70
  
 
 
(
1
)
The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Income from continuing operations per share. Accordingly, the impact of such conversions has
not
been included in the determination of diluted earnings per share calculations. Additionally, there were
1.3
million and
2.3
million stock options that were
not
dilutive as of
September 30, 2018
and
2017,
respectively.
 
The Company's unvested restricted share awards contain non-forfeitable rights to distributions or distribution equivalents. The impact of the unvested restricted share awards on earnings per share has been calculated using the
two
-class method whereby earnings are allocated to the unvested restricted share awards based on dividends declared and the unvested restricted shares' participation rights in undistributed earnings.