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Earnings Per Share and Earnings Per Unit (Tables)
6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Common Share/Unit

The following table sets forth the computation of basic and diluted earnings per common share utilizing the two-class method.

Earnings Per Share

 

(in thousands except per share data)

   Three Months
Ended 
Jun. 30, 2017
     Three Months
Ended 
Jun. 30, 2016
     Six Months
Ended 
Jun. 30, 2017
     Six Months
Ended 
Jun. 30, 2016
 

Numerator:

           

Net income attributable to common shareholders

   $ 19,355      $ 43,456      $ 39,785      $ 71,796  

Denominator:

           

Denominator for basic earnings per share – weighted average shares

     46,365        41,980        46,335        40,196  

Effect of Dilutive Securities:

           

Stock options and non-vested stock

     113        247        113        249  
  

 

 

    

 

 

    

 

 

    

 

 

 

Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversion

     46,478        42,227        46,448        40,445  

Basic earnings per common share attributable to common shareholders

   $ 0.42      $ 1.04      $ 0.86      $ 1.79  

Diluted earnings per common share attributable to common shareholders

   $ 0.42      $ 1.03      $ 0.86      $ 1.78  

 

Earnings Per Unit

The following table sets forth the computation of basic and diluted earnings per common unit utilizing the two-class method.

 

(in thousands except per unit data)

   Three Months
Ended 
Jun. 30, 2017
     Three Months
Ended 
Jun. 30, 2016
     Six Months
Ended 
Jun. 30, 2017
     Six Months
Ended 
Jun. 30, 2016
 

Numerator:

           

Net income attributable to common unitholders

   $ 19,355      $ 43,456      $ 39,785      $ 71,796  

Denominator:

           

Denominator for basic earnings per unit – weighted average units

     46,365        41,980        46,335        40,196  

Effect of Dilutive Securities:

           

Stock options and non-vested stock

     113        247        113        249  
  

 

 

    

 

 

    

 

 

    

 

 

 

Denominator for diluted earnings per unit – adjusted weighted average units and assumed conversion

     46,478        42,227        46,448        40,445  

Basic earnings per common unit attributable to common unitholders

   $ 0.42      $ 1.04      $ 0.86      $ 1.79  

Diluted earnings per common unit attributable to common unitholders

   $ 0.42      $ 1.03      $ 0.86      $ 1.78