| 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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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2021 |
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2020 |
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2021 |
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2020 |
| Numerator: |
(in millions, except share and per share data) |
Net income (loss) attributable to controlling stockholders and participating securities |
$ |
16.0 |
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$ |
12.0 |
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$ |
67.0 |
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$ |
36.3 |
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Less: Dividends and distributions on participating securities |
(0.2) |
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(0.2) |
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(0.5) |
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(0.5) |
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| Less: Undistributed earnings attributable to participating securities |
— |
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— |
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(0.1) |
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— |
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| Net income (loss) attributable to controlling stockholders — basic |
15.8 |
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11.8 |
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66.4 |
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35.8 |
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| Add: Interest expense related to convertible notes under the if-converted method |
0.3 |
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— |
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4.3 |
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— |
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| Add: Undistributed earnings attributable to participating securities |
— |
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— |
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0.1 |
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— |
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| Net income (loss) attributable to controlling stockholders — dilutive |
$ |
16.1 |
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$ |
11.8 |
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$ |
70.8 |
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$ |
35.8 |
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| Denominator: |
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| Weighted-average number of common shares — basic |
78,372,647 |
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72,914,145 |
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77,935,264 |
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70,043,125 |
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| Weighted-average number of common shares — diluted |
81,944,511 |
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73,382,217 |
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87,165,587 |
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70,662,377 |
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| Basic earnings per common share |
$ |
0.20 |
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$ |
0.16 |
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$ |
0.85 |
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$ |
0.51 |
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| Diluted earnings per common share |
$ |
0.20 |
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$ |
0.16 |
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$ |
0.81 |
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$ |
0.51 |
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| Securities being allocated a portion of earnings: |
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| Weighted-average number of OP units |
493,737 |
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321,261 |
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409,102 |
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301,582 |
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As of June 30, 2021 |
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As of June 30, 2020 |
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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 |
567,088 |
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657,841 |
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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 |
567,088 |
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657,841 |
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| Restricted stock units |
81,846 |
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235,866 |
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| LTIP Units with market-based vesting conditions |
347,478 |
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312,704 |
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| Potential shares of common stock related to convertible notes |
8,490,305 |
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5,513,244 |
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