Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share of Common Stock (Tables)

v3.20.1
Earnings per Share of Common Stock (Tables)
 3 Months Ended
Mar. 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:
 
Three Months Ended March 31,
Numerator:
2020
 
2019
 
(in millions, except share and per share data)
Net income (loss) attributable to controlling stockholders and participating securities
$
24.3

 
$
13.6

Less: Dividends on participating securities
(0.3
)
 
(0.3
)
Undistributed earnings attributable to participating securities
—

 
—

Net income (loss) attributable to controlling stockholders — basic
24.0

 
13.3

Add: Interest expense associated with convertible debt
1.8

 
—

Net income (loss) attributable to controlling stockholders — dilutive
$
25.8

 
$
13.3

 
 
 
 
Denominator:
 
 
 
Weighted-average number of common shares — basic
67,172,104

 
61,748,906

Weighted-average number of common shares — diluted
73,140,922

 
62,365,271

Basic earnings per common share
$
0.36

 
$
0.22

Diluted earnings per common share
$
0.35

 
$
0.21

 
 
 
 
Securities being allocated a portion of earnings:
 
 
 
Weighted-average number of OP units
281,903

 
281,289

Participating securities:
 
 
 
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions outstanding at period end
660,880

 
983,655

Potentially dilutive securities as of period end:
 
 
 
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions
660,880

 
983,655

Restricted stock units
241,988

 
437,640

LTIP Units with market-based vesting conditions
180,500

 
—

Potential shares of common stock related to convertible notes
5,510,499

 
5,506,605