INCOME PER COMMON SHARE OF THE TRUST

The following table sets forth the computation of basic and diluted income per common share of the Trust (in thousands except per share amounts):



	2018					2017
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share		Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Income from continuing operations net of noncontrolling interest - basic	$	160,677	147,275	$	1.09	$	242,066	146,742	$	1.65
Dilutive shares for long-term compensation plans	—		946			—		799
Income from continuing operations net of noncontrolling interest - diluted	$	160,677	148,221	$	1.09	$	242,066	147,541	$	1.64
Discontinued operations net of noncontrolling interest - basic	$	318,930	147,275	$	2.17	$	40,274	146,742	$	0.27
Dilutive shares for long-term compensation plans	—		946			—		799
Discontinued operations net of noncontrolling interest - diluted	$	318,930	148,221	$	2.15	$	40,274	147,541	$	0.27
Net income available to common shareholders - basic	$	479,607	147,275	$	3.26	$	282,340	146,742	$	1.92
Dilutive shares for long-term compensation plans	—		946			—		799
Net income available to common shareholders - diluted	$	479,607	148,221	$	3.24	$	282,340	147,541	$	1.91



	2016
	Income (Numerator)		Weighted Average Shares (Denominator)	Per Share
Income from continuing operations net of noncontrolling interest - basic	$	330,320	146,204	$	2.26
Dilutive shares for long-term compensation plans	—		685
Income from continuing operations net of noncontrolling interest - diluted	$	330,320	146,889	$	2.25
Discontinued operations net of noncontrolling interest - basic	$	26,497	146,204	$	0.18
Dilutive shares for long-term compensation plans	—		685
Discontinued operations net of noncontrolling interest - diluted	$	26,497	146,889	$	0.18
Net income available to common shareholders - basic	$	356,817	146,204	$	2.44
Dilutive shares for long-term compensation plans	—		685
Net income available to common shareholders - diluted	$	356,817	146,889	$	2.43

Dilutive shares for long-term compensation plans represent the unvested common shares outstanding during the year as well as the dilutive effect of outstanding options. There were no anti-dilutive options in 2018 or 2017. There were 0.8 million anti-dilutive options that were excluded in 2016 from the computation of diluted income per common share as the exercise price was higher than the average share price of the Company in 2016.

During the years ended December 31, 2018, 2017 and 2016, 151,000, 193,000 and 369,000 common shares, respectively, were issued upon the exercise of options.

During the year ended December 31, 2018, there were no common shares issued in exchange for common units. During the years ended December 31, 2017 and 2016, individuals acquired 9,826 and 9,044 common shares, respectively, in exchange for the same number of common units. These individuals acquired these common units in connection with their contributions to the Operating Partnership of certain assets in prior years. The exchange of common shares for common units is exempt from the registration requirement of the Securities Act of 1933, as amended, pursuant to Section 4(2) thereunder.

During the years ended December 31, 2018, 2017 and 2016, declared dividends per common share were $1.60, $1.60 and $1.90, respectively.