Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share of Common Stock (Tables)

v3.22.1
Earnings per Share of Common Stock (Tables)
3 Months Ended
Mar. 31, 2022
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 March 31,
2022 2021
Numerator: (in millions, except share and per share data)
Net income (loss) attributable to controlling stockholders and participating securities
$ 45.3  $ 51.0 
Less: Dividends and distributions on participating securities
(0.2) (0.3)
Less: Undistributed earnings attributable to participating securities (0.1) (0.1)
Net income (loss) attributable to controlling stockholders — basic 45.0  50.6 
Add: Interest expense related to convertible notes under the if-converted method 0.3  2.1 
Add: Undistributed earnings attributable to participating securities 0.1  0.1 
Net income (loss) attributable to controlling stockholders — dilutive $ 45.4  $ 52.8 
Denominator:
Weighted-average number of common shares — basic 85,583,152  77,493,021 
Weighted-average number of common shares — diluted 89,052,167  86,866,581 
Basic earnings per common share $ 0.53  $ 0.65 
Diluted earnings per common share $ 0.51  $ 0.61 
Securities being allocated a portion of earnings:
Weighted-average number of OP units 675,207  323,527 
As of March 31, 2022 As of March 31, 2021
Participating securities:
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions outstanding at period end 646,754  569,213 
Potentially dilutive securities as of period end:
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions
646,754  569,213 
Restricted stock units 63,426  81,846 
LTIP Units with market-based vesting conditions 324,028  312,704 
Potential shares of common stock related to convertible notes 2,974,634  8,487,800