XML 32 R22.htm IDEA: XBRL DOCUMENT v3.19.1
Note 14 - Earnings Per Share
 3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Earnings Per Share [Text Block]
14.
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
  
   
March 31
,
  
   
201
9
    
2018
  
Computation of Basic and Diluted Earnings Per Share:
  
 
 
 
  
 
 
 
Net income available to the Company's common shareholders
   $
101,635
     $
129,501
  
Earnings attributable to participating securities
    
(625
 )    
(599
 )
Net income available to the Company’s common shareholders for basic earnings per share
    
101,010
      
128,902
  
Distributions on convertible units
    
25
      
244
  
Net income available to the Company’s common shareholders for diluted earnings per share
   $
101,035
     $
129,146
  
                 
Weighted average common shares outstanding – basic
    
419,464
      
423,404
  
Effect of dilutive securities (1):
                
Equity awards
    
1,182
      
287
  
Assumed conversion of convertible units
    
117
      
830
  
Weighted average common shares outstanding – diluted
    
420,763
      
424,521
  
                 
Net income available to the Company's common shareholders:
                
Basic earnings per share
   $
0.24
     $
0.30
  
Diluted earnings per share
   $
0.24
     $
0.30
  
 
(
1
)
The effect of the assumed conversion of certain convertible units had an anti-dilutive effect upon the calculation of Net income available to the Company’s common shareholders 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
3.3
million stock options that were
not
dilutive as of
March 31, 2019
and
2018,
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.