| 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: |
2022 |
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2021 |
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2020 |
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(dollars in millions, except share and per share data) |
Net income (loss) attributable to controlling stockholders and participating securities |
$ |
41.5 |
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$ |
126.6 |
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$ |
82.4 |
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| Less: Dividends and distributions to participating securities |
(0.7) |
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(0.9) |
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(0.9) |
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| 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 |
$ |
40.8 |
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$ |
125.7 |
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$ |
81.5 |
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Add: Interest expense related to convertible notes under the if-converted method |
1.4 |
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6.3 |
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0.4 |
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| Net income (loss) attributable to controlling stockholders—diluted |
$ |
42.2 |
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$ |
132.0 |
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$ |
81.9 |
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| Denominator: |
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| Weighted-average number of common shares—basic |
87,500,799 |
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79,992,922 |
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72,387,581 |
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| Weighted-average number of common shares—diluted |
90,609,329 |
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87,671,641 |
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74,373,169 |
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| Basic earnings per common share |
$ |
0.47 |
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$ |
1.57 |
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$ |
1.13 |
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| Diluted earnings per common share |
$ |
0.47 |
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$ |
1.51 |
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$ |
1.10 |
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| Securities being allocated a portion of earnings: |
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| Weighted-average number of OP units |
1,002,002 |
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485,013 |
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309,465 |
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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 |
445,218 |
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577,594 |
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652,859 |
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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 |
445,218 |
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577,594 |
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652,859 |
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| Restricted stock units |
58,404 |
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78,366 |
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235,600 |
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| LTIP Units with market-based vesting conditions |
324,028 |
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347,478 |
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312,704 |
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| Potential shares of common stock related to convertible notes |
6,520,615 |
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3,274,300 |
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8,487,800 |
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