Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share of Common Stock (Tables)

v3.21.2
Earnings per Share of Common Stock (Tables)
9 Months Ended
Sep. 30, 2021
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:

  Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
Numerator: (in millions, except share and per share data)
Net income (loss) attributable to controlling stockholders and participating securities
$ (2.8) $ 21.2  $ 64.2  $ 57.5 
Less: Dividends and distributions on participating securities
(0.2) (0.2) (0.7) (0.7)
Less: Undistributed earnings attributable to participating securities —  —  —  — 
Net income (loss) attributable to controlling stockholders — basic (3.0) 21.0  63.5  56.8 
Add: Interest expense related to convertible notes under the if-converted method —  0.1  1.0  0.1 
Add: Undistributed earnings attributable to participating securities —  —  —  — 
Net income (loss) attributable to controlling stockholders — dilutive $ (3.0) $ 21.1  $ 64.5  $ 56.9 
Denominator:
Weighted-average number of common shares — basic 79,335,173  74,012,788  78,407,028  71,376,004 
Weighted-average number of common shares — diluted 79,335,173  76,131,252  82,069,464  72,644,626 
Basic earnings per common share $ (0.04) $ 0.28  $ 0.81  $ 0.80 
Diluted earnings per common share $ (0.04) $ 0.28  $ 0.79  $ 0.78 
Securities being allocated a portion of earnings:
Weighted-average number of OP units 559,686  321,261  459,848  301,582 
As of September 30, 2021 As of September 30, 2020
Participating securities:
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions outstanding at period end 581,301  653,071 
Potentially dilutive securities as of period end:
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions
581,301  653,071 
Restricted stock units 81,846  235,866 
LTIP Units with market-based vesting conditions 347,478  312,704 
Potential shares of common stock related to convertible notes 3,494,175  8,485,630