| 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:
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Year ended December 31, |
Numerator: |
2019 |
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2018 |
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2017 |
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(dollars in millions, except share and per share data) |
Net income (loss) attributable to controlling stockholders and participating securities |
$ |
81.6 |
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$ |
41.6 |
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$ |
30.9 |
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Less: Dividends on participating securities |
(1.4 |
) |
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(1.8 |
) |
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(1.9 |
) |
Undistributed earnings attributable to participating securities |
— |
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— |
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— |
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Net income (loss) attributable to controlling stockholders |
$ |
80.2 |
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$ |
39.8 |
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$ |
29.0 |
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Denominator: |
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Weighted-average number of common shares—basic |
63,916,440 |
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52,780,449 |
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50,361,672 |
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Weighted-average number of common shares—diluted |
64,771,491 |
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52,780,449 |
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50,361,672 |
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Basic earnings per common share |
$ |
1.25 |
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$ |
0.75 |
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$ |
0.57 |
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Diluted earnings per common share |
$ |
1.24 |
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$ |
0.75 |
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$ |
0.57 |
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Securities being allocated a portion of earnings: |
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Weighted-average number of OP units |
279,135 |
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281,106 |
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284,992 |
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Participating securities: |
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Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions outstanding at period end |
951,552 |
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1,386,756 |
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1,399,593 |
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Potentially dilutive securities as of period end: |
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Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions |
951,552 |
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1,386,756 |
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1,399,593 |
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Restricted stock units |
435,578 |
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393,148 |
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255,706 |
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LTIP Units with market-based vesting conditions |
180,500 |
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— |
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— |
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Potential shares of common stock related to convertible notes |
5,510,499 |
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5,506,605 |
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5,506,605 |
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