Earnings per Share and Unit

Parent Company Earnings per Share

The following summarizes the calculation of basic and diluted earnings per share:



	Three months ended June 30,			Six months ended June 30,
(in thousands, except per share data)	2018		2017	2018		2017
Numerator:
Income from operations attributable to common stockholders - basic	$	47,841	48,368	$	100,500	15,144
Income from operations attributable to common stockholders - diluted	$	47,841	48,368	$	100,500	15,144
Denominator:
Weighted average common shares outstanding for basic EPS	169,424		170,088	170,056		148,610
Weighted average common shares outstanding for diluted EPS ⁽¹⁾	169,682		170,420	170,291		148,930

Income per common share – basic	$	0.28	0.28	$	0.59	0.10
Income per common share – diluted	$	0.28	0.28	$	0.59	0.10
⁽¹⁾ Includes the dilutive impact of unvested restricted stock and shares issuable under the forward equity offering, that were fully settled on December 14, 2017, using the treasury stock method.

Income allocated to noncontrolling interests of the Operating Partnership has been excluded from the numerator and exchangeable Operating Partnership units have been omitted from the denominator for the purpose of computing diluted earnings per share since the effect of including these amounts in the numerator and denominator would be anti-dilutive. Weighted average exchangeable Operating Partnership units outstanding for the six months ended June 30, 2018 and 2017 were 349,902 and 238,987, respectively.

Operating Partnership Earnings per Unit

The following summarizes the calculation of basic and diluted earnings per unit:



	Three months ended June 30,			Six months ended June 30,
(in thousands, except per share data)	2018		2017	2018		2017
Numerator:
Income from operations attributable to common unit holders - basic	$	47,941	48,472	$	100,712	15,229
Income from operations attributable to common unit holders - diluted	$	47,941	48,472	$	100,712	15,229
Denominator:
Weighted average common units outstanding for basic EPU	169,774		170,410	170,406		148,849
Weighted average common units outstanding for diluted EPU ⁽¹⁾	170,032		170,742	170,641		149,169

Income per common unit – basic	$	0.28	0.28	$	0.59	0.10
Income per common unit – diluted	$	0.28	0.28	$	0.59	0.10
⁽¹⁾ Includes the dilutive impact of unvested restricted stock and shares issuable under the forward equity offering, that were fully settled on December 14, 2017, using the treasury stock method.