| Computation of Basic and Diluted Earnings Per Common Share/Unit |
Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per common share utilizing the two-class method.
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(in thousands except per share data) |
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Three Months
Ended
June 30, 2021 |
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Three Months
Ended
June 30, 2020 |
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Six Months
Ended
June 30, 2021 |
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Six Months
Ended
June 30, 2020 |
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Numerator: |
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Net income attributable to common shareholders |
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$ |
57,516 |
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$ |
36,457 |
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$ |
104,898 |
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$ |
72,890 |
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Denominator: |
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Denominator for basic earnings per share – weighted
average shares |
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77,058 |
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70,267 |
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76,222 |
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70,142 |
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Effect of Dilutive Securities: |
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Stock options and non-vested stock |
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162 |
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92 |
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143 |
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101 |
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Denominator for diluted earnings per share – adjusted
weighted average shares and assumed conversion |
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77,220 |
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70,359 |
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76,365 |
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70,243 |
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Basic earnings per common share attributable to
common shareholders |
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$ |
0.75 |
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$ |
0.52 |
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$ |
1.38 |
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$ |
1.04 |
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Diluted earnings per common share attributable to
common shareholders |
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$ |
0.74 |
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$ |
0.52 |
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$ |
1.37 |
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$ |
1.04 |
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Earnings Per Unit
The following table sets forth the computation of basic and diluted earnings per common unit utilizing the two-class method.
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(in thousands except per unit data) |
|
Three Months
Ended
June 30, 2021 |
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Three Months
Ended
June 30, 2020 |
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|
Six Months
Ended
June 30, 2021 |
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Six Months
Ended
June 30, 2020 |
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Numerator: |
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Net income attributable to common unitholders |
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$ |
57,516 |
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$ |
36,457 |
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$ |
104,898 |
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$ |
72,890 |
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Denominator: |
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Denominator for basic earnings per unit – weighted
average units |
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|
77,058 |
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70,267 |
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|
76,222 |
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|
70,142 |
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Effect of Dilutive Securities: |
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Stock options and non-vested stock |
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162 |
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92 |
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|
143 |
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|
101 |
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Denominator for diluted earnings per unit – adjusted
weighted average units and assumed conversion |
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|
77,220 |
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70,359 |
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76,365 |
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70,243 |
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Basic earnings per common unit attributable to
common unitholders |
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$ |
0.75 |
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$ |
0.52 |
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$ |
1.38 |
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$ |
1.04 |
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Diluted earnings per common unit attributable to
common unitholders |
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$ |
0.74 |
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$ |
0.52 |
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$ |
1.37 |
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$ |
1.04 |
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