| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Year ended December 31, |
| Numerator: |
2020 |
|
2019 |
|
2018 |
| |
(dollars in millions, except share and per share data) |
Net income (loss) attributable to controlling stockholders and participating securities |
$ |
82.4 |
|
|
$ |
81.6 |
|
|
$ |
41.6 |
|
| Less: Dividends and distributions to participating securities |
(0.9) |
|
|
(1.4) |
|
|
(1.8) |
|
| Undistributed earnings attributable to participating securities |
— |
|
|
— |
|
|
— |
|
| Net income (loss) attributable to controlling stockholders |
$ |
81.5 |
|
|
$ |
80.2 |
|
|
$ |
39.8 |
|
Add: Interest expense related to convertible notes under the if-converted method |
0.4 |
|
|
— |
|
|
— |
|
| Net income (loss) attributable to controlling stockholders—diluted |
$ |
81.9 |
|
|
$ |
80.2 |
|
|
$ |
39.8 |
|
| Denominator: |
|
|
|
|
|
| Weighted-average number of common shares—basic |
72,387,581 |
|
|
63,916,440 |
|
|
52,780,449 |
|
| Weighted-average number of common shares—diluted |
74,373,169 |
|
|
64,771,491 |
|
|
52,780,449 |
|
| Basic earnings per common share |
$ |
1.13 |
|
|
$ |
1.25 |
|
|
$ |
0.75 |
|
| Diluted earnings per common share |
$ |
1.10 |
|
|
$ |
1.24 |
|
|
$ |
0.75 |
|
|
|
|
|
|
|
| Securities being allocated a portion of earnings: |
|
|
|
|
|
| Weighted-average number of OP units |
309,465 |
|
|
279,135 |
|
|
281,106 |
|
| Participating securities: |
|
|
|
|
|
| Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions outstanding at period end |
652,859 |
|
|
951,552 |
|
|
1,386,756 |
|
| Potentially dilutive securities as of period end: |
|
|
|
|
|
| Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions |
652,859 |
|
|
951,552 |
|
|
1,386,756 |
|
| Restricted stock units |
235,600 |
|
|
435,578 |
|
|
393,148 |
|
| LTIP Units with market-based vesting conditions |
312,704 |
|
|
180,500 |
|
|
— |
|
| Potential shares of common stock related to convertible notes |
8,487,800 |
|
|
5,510,499 |
|
|
5,506,605 |
|
|