| 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 March 31, |
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2023 |
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2022 |
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| Numerator: |
(in millions, except share and per share data) |
Net income (loss) attributable to controlling stockholders and participating securities |
$ |
24.1 |
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$ |
45.3 |
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Less: Dividends and distributions on participating securities |
(0.3) |
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(0.2) |
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| Less: Undistributed earnings attributable to participating securities |
— |
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(0.1) |
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| Net income (loss) attributable to controlling stockholders — basic |
23.8 |
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45.0 |
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| Add: Interest expense related to Convertible Notes under the if-converted method |
0.3 |
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0.3 |
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| Add: Undistributed earnings attributable to participating securities |
— |
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0.1 |
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| Net income (loss) attributable to controlling stockholders — dilutive |
$ |
24.1 |
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$ |
45.4 |
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| Denominator: |
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| Weighted-average number of common shares — basic |
91,102,374 |
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85,583,152 |
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| Weighted-average number of common shares — diluted |
94,129,174 |
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89,052,167 |
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| Basic earnings per common share |
$ |
0.26 |
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$ |
0.53 |
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| Diluted earnings per common share |
$ |
0.26 |
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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 |
1,186,616 |
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675,207 |
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As of March 31, 2023 |
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As of March 31, 2022 |
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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 |
680,917 |
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646,754 |
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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 |
680,917 |
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646,754 |
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| Restricted stock units |
99,884 |
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63,426 |
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| LTIP Units with market-based vesting conditions |
493,858 |
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324,028 |
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| Potential shares of common stock related to Convertible Notes |
6,524,112 |
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2,974,634 |
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