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Earnings per Share and Unit (Tables)
 12 Months Ended
Dec. 31, 2023
Schedule of earnings per share

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

 

 

 

Year ended December 31,

 

(in thousands, except per share data)

 

2023

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

Income attributable to common shareholders - basic

 

$

359,500

 

 

 

482,865

 

 

 

361,411

 

Income attributable to common shareholders - diluted

 

$

359,500

 

 

 

482,865

 

 

 

361,411

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding for basic EPS

 

 

176,085

 

 

 

171,404

 

 

 

170,236

 

Weighted average common shares outstanding for diluted EPS (1) (2)

 

 

176,371

 

 

 

171,791

 

 

 

170,694

 

Income per common share – basic

 

$

2.04

 

 

 

2.82

 

 

 

2.12

 

Income per common share – diluted

 

$

2.04

 

 

 

2.81

 

 

 

2.12

 
(1)
Includes the dilutive impact of unvested restricted stock.
(2)
Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive.
Partnership Interest [Member]  
Schedule of earnings per share

The following summarizes the calculation of basic and diluted earnings per unit ("EPU"):

 

 

 

Year ended December 31,

 

(in thousands, except per share data)

 

2023

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

Income attributable to common unit holders - basic

 

$

361,508

 

 

 

484,970

 

 

 

363,026

 

Income attributable to common unit holders - diluted

 

$

361,508

 

 

 

484,970

 

 

 

363,026

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average common units outstanding for basic EPU

 

 

177,038

 

 

 

172,152

 

 

 

170,998

 

Weighted average common units outstanding for diluted EPU (1) (2)

 

 

177,324

 

 

 

172,540

 

 

 

171,456

 

Income per common unit – basic

 

$

2.04

 

 

 

2.82

 

 

 

2.12

 

Income per common unit – diluted

 

$

2.04

 

 

 

2.81

 

 

 

2.12

 
(1)
Includes the dilutive impact of unvested restricted stock.
(2)
Using the treasury stock method, weighted average common shares outstanding for basic and diluted earnings per share exclude 1.0 million shares issuable under the forward ATM equity offering outstanding during 2021 as they would be anti-dilutive.