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Earnings per Share and per Unit (Tables)
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Reconciliations of Numerator and Denominator in Calculations of Basic and Diluted Earnings per Share and per Unit

Reconciliations of the numerator and denominator in the calculations of basic and diluted earnings (loss) per share and per unit for the years ended December 31, 2022, 2021, and 2020 are as follows (in thousands, except per share and per unit data):

 

2022

 

 

2021

 

 

2020

 

Earnings (loss) per share

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Income (loss) from continuing operations attributable to AIR common stockholders

$

903,642

 

 

$

447,124

 

 

$

(115,961

)

Income from discontinued operations attributable to AIR common stockholders

 

—

 

 

 

—

 

 

 

11,632

 

Basic net income (loss) attributable to AIR common stockholders

$

903,642

 

 

$

447,124

 

 

$

(104,329

)

Effect of dilutive instruments

 

6,388

 

 

 

—

 

 

 

—

 

Dilutive net income (loss) attributable to AIR common stockholders

$

910,030

 

 

$

447,124

 

 

$

(104,329

)

 

 

 

 

 

 

 

 

 

Denominator – shares:

 

 

 

 

 

 

 

 

   Basic weighted-average common shares outstanding

 

154,093

 

 

 

154,135

 

 

 

122,446

 

   Dilutive common share equivalents outstanding

 

2,494

 

 

 

368

 

 

 

—

 

Dilutive weighted-average common shares outstanding

 

156,587

 

 

 

154,503

 

 

 

122,446

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations attributable to AIR per common share

$

5.86

 

 

$

2.90

 

 

$

(0.94

)

Income from discontinued operations attributable to AIR per common share

 

—

 

 

 

—

 

 

 

0.09

 

Earnings (loss) per share – basic

$

5.86

 

 

$

2.90

 

 

$

(0.85

)

Earnings (loss) per share – diluted

$

5.81

 

 

$

2.89

 

 

$

(0.85

)

 

 

 

 

 

 

 

 

 

Earnings (loss) per unit

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Income (loss) from continuing operations attributable to the AIR Operating Partnership

$

962,414

 

 

$

475,557

 

 

$

(121,399

)

Income from discontinued operations attributable to the AIR Operating Partnership

 

—

 

 

 

—

 

 

 

11,632

 

Basic net income (loss) attributable to the AIR Operating Partnership’s common unitholders

$

962,414

 

 

$

475,557

 

 

$

(109,767

)

Effect of dilutive instruments

 

6,388

 

 

 

—

 

 

 

—

 

Dilutive net income (loss) attributable to the AIR Operating Partnership’s common unitholders

$

968,802

 

 

$

475,557

 

 

$

(109,767

)

 

 

 

 

 

 

 

 

 

Denominator – units:

 

 

 

 

 

 

 

 

   Basic weighted-average common units outstanding

 

164,141

 

 

 

162,739

 

 

 

128,775

 

   Dilutive common unit equivalents outstanding

 

2,494

 

 

 

369

 

 

 

—

 

Dilutive weighted-average common units outstanding

 

166,635

 

 

 

163,108

 

 

 

128,775

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations attributable to the AIR Operating Partnership per common unit

$

5.86

 

 

$

2.92

 

 

$

(0.94

)

Income from discontinued operations attributable to the AIR Operating Partnership per common unit

 

—

 

 

 

—

 

 

 

0.09

 

Earnings (loss) per unit – basic

$

5.86

 

 

$

2.92

 

 

$

(0.85

)

Earnings (loss) per unit – diluted

$

5.81

 

 

$

2.92

 

 

$

(0.85

)