Annual report pursuant to Section 13 and 15(d)

Earnings per Share of Common Stock (Tables)

v3.20.4
Earnings per Share of Common Stock (Tables)
12 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings Per Common Share of Common Stock
The computation of basic and diluted earnings per common share of common stock is as follows:
  Year ended December 31,
Numerator: 2020 2019 2018
  (dollars in millions, except share and per share data)
Net income (loss) attributable to controlling stockholders and participating securities
$ 82.4  $ 81.6  $ 41.6 
Less: Dividends and distributions to participating securities (0.9) (1.4) (1.8)
Undistributed earnings attributable to participating securities —  —  — 
Net income (loss) attributable to controlling stockholders $ 81.5  $ 80.2  $ 39.8 
Add: Interest expense related to convertible notes under the if-converted method
0.4  —  — 
Net income (loss) attributable to controlling stockholders—diluted $ 81.9  $ 80.2  $ 39.8 
Denominator:
Weighted-average number of common shares—basic 72,387,581  63,916,440  52,780,449 
Weighted-average number of common shares—diluted 74,373,169  64,771,491  52,780,449 
Basic earnings per common share $ 1.13  $ 1.25  $ 0.75 
Diluted earnings per common share $ 1.10  $ 1.24  $ 0.75 
Securities being allocated a portion of earnings:
Weighted-average number of OP units 309,465  279,135  281,106 
Participating securities:
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions outstanding at period end 652,859  951,552  1,386,756 
Potentially dilutive securities as of period end:
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions 652,859  951,552  1,386,756 
Restricted stock units 235,600  435,578  393,148 
LTIP Units with market-based vesting conditions 312,704  180,500  — 
Potential shares of common stock related to convertible notes 8,487,800  5,510,499  5,506,605