Earnings per Share and Unit (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of earnings per share

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

	Three months ended September 30,				Nine months ended September 30,
(in thousands, except per share data)	2024		2023		2024		2023
Numerator:
Net income attributable to common shareholders - basic	$	98,056		89,076	$	303,672		273,139
Net income attributable to common shareholders - diluted	$	98,056		89,076	$	303,672		273,139
Denominator:
Weighted average common shares outstanding for basic EPS		181,498		177,344		183,281		173,212
Weighted average common shares outstanding for diluted EPS (1)		181,772		178,231		183,448		173,711
Net income per common share – basic	$	0.54		0.50	$	1.66	$	1.58
Net income per common share – diluted	$	0.54		0.50	$	1.66	$	1.57

(1)Includes the dilutive impact of unvested restricted stock.

Partnership Interest [Member]

Schedule of earnings per share

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

	Three months ended September 30,				Nine months ended September 30,
(in thousands, except per unit data)	2024		2023		2024		2023
Numerator:
Net income attributable to common unit holders - basic	$	98,649		89,596	$	305,508		274,629
Net income attributable to common unit holders - diluted	$	98,649		89,596	$	305,508		274,629
Denominator:
Weighted average common units outstanding for basic EPU		182,597		178,424		184,381		174,121
Weighted average common units outstanding for diluted EPU (1)		182,872		179,311		184,548		174,621
Net income per common unit – basic	$	0.54		0.50	$	1.66		1.58
Net income per common unit – diluted	$	0.54		0.50	$	1.66		1.57

(1)Includes the dilutive impact of unvested restricted stock.