Annual report pursuant to Section 13 and 15(d)

Earnings per Share of Common Stock

v3.10.0.1
Earnings per Share of Common Stock
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Earnings per Share of Common Stock
Earnings per Share of Common Stock
Both the net income or loss attributable to the non-controlling OP units and the non-controlling limited partners’ outstanding OP units have been excluded from the basic earnings per share and the diluted earnings per share calculations attributable to common stockholders. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share pursuant to the two-class method.
The computation of basic and diluted earnings per common share of common stock is as follows:
 
Year ended December 31,
Numerator:
2018
 
2017
 
2016
 
(dollars in millions, except share and per share data)
Net income (loss) attributable to controlling stockholders and participating securities
$
41.6

 
$
30.9

 
$
14.7

Less: Dividends paid on participating securities
(1.8
)
 
(1.9
)
 
(1.8
)
Undistributed earnings attributable to participating securities
—

 
—

 
—

Net income (loss) attributable to controlling stockholders
$
39.8

 
$
29.0

 
$
12.9

Denominator:
 
 
 
 
 
Weighted-average number of common shares—basic
52,780,449

 
50,361,672

 
40,290,717

Weighted-average number of common shares—diluted
52,780,449

 
50,361,672

 
40,290,717

Basic earnings per common share
$
0.75

 
$
0.57

 
$
0.32

Diluted earnings per common share
$
0.75

 
$
0.57

 
$
0.32

Other Information:
 
 
 
 
 
Weighted-average number of OP units
281,106

 
284,992

 
284,992

Unvested restricted common stock outstanding (i.e., participating securities)
1,386,756

 
1,399,593

 
1,181,672