Earnings per Share ("EPS")

9 Months Ended

Sep. 30, 2019

Earnings Per Share ("EPS"):

The following table reconciles the numerator and denominator used in the computation of EPS for the three and nine months ended September 30, 2019 and 2018 (shares in thousands):


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2019		2018		2019		2018
Numerator
Net income	$	50,025	$	81,241	$	72,815	$	55,726
Less net income attributable to noncontrolling interests	3,654		7,213		2,886		7,455
Net income attributable to the Company	46,371		74,028		69,929		48,271
Allocation of earnings to participating securities	(297)		(278)		(869)		(824)
Numerator for basic and diluted EPS—net income attributable to common stockholders	$	46,074	$	73,750	$	69,060	$	47,447
Denominator
Denominator for basic EPS—weighted average number of common shares outstanding	141,368		141,196		141,325		141,120
Effect of dilutive securities(1):
Share and unit-based compensation plans	—		—		—		5
Denominator for diluted EPS—weighted average number of common shares outstanding	141,368		141,196		141,325		141,125
EPS—net income attributable to common stockholders:
Basic	$	0.33	$	0.52	$	0.49	$	0.34
Diluted	$	0.33	$	0.52	$	0.49	$	0.34

(1) Diluted EPS excludes 90,619 convertible preferred partnership units for the three and nine months ended September 30, 2019 and 2018, as their impact was antidilutive. Diluted EPS also excludes 10,415,238 and 10,377,936 Operating Partnership units ("OP Units") for the three months ended September 30, 2019 and 2018, respectively, and 10,415,234 and 10,355,946 OP Units for the nine months ended September 30, 2019 and 2018, respectively, as their impact was antidilutive.