Quarterly report [Sections 13 or 15(d)]

Earnings per Share of Common Stock (Tables)

v3.25.1
Earnings per Share of Common Stock (Tables)
3 Months Ended
Mar. 31, 2025
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 our common stock is as follows:

  Three Months Ended March 31,
2025 2024
Numerator: (in millions, except share and per share data)
Net income (loss) attributable to controlling stockholders and participating securities
$ 56.6  $ 123.0 
Less: Dividends and distributions on participating securities
(0.5) (0.4)
Less: Undistributed earnings attributable to participating securities —  (0.5)
Net income (loss) attributable to controlling stockholders — basic 56.1  122.1 
Add: Interest expense related to Convertible Notes under the if-converted method 4.5  6.2 
Add: Undistributed earnings attributable to participating securities —  0.5 
Net income (loss) attributable to controlling stockholders — dilutive $ 60.6  $ 128.8 
Denominator:
Weighted-average number of common shares — basic 119,381,781  112,617,809 
Weighted-average number of common shares — diluted 137,956,858  130,998,775 
Basic earnings per common share $ 0.47  $ 1.08 
Diluted earnings per common share $ 0.44  $ 0.98 
Securities being allocated a portion of earnings:
Weighted-average number of OP units 1,447,380  1,393,885 
As of March 31,
2025 2024
Participating securities:
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions outstanding at period end 1,254,135  982,670 
Three Months Ended March 31,
2025 2024
Potentially dilutive securities as of period end that were not dilutive for the presented periods:
Unvested restricted common stock and unvested LTIP Units with time-based vesting conditions
1,254,135  982,670 
Restricted stock units 57,446  80,438 
LTIP Units with market-based vesting conditions 282,034  407,584 
LTIP Units with performance-based vesting conditions
247,759  128,024 
Potential shares of common stock related to Convertible Notes —  —