| Summary of calculation of numerator and denominator in basic and diluted earnings per share |
Summaries of the numerator and denominator for purposes of basic and diluted EPS calculations are set forth below (in thousands, except per share data):
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For the Years Ended December 31, |
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|
2019 |
|
2018 |
|
2017 |
Numerator: |
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|
|
|
|
|
Net income attributable to COPT |
|
$ |
191,692 |
|
|
$ |
72,301 |
|
|
$ |
68,745 |
|
Preferred share dividends |
|
— |
|
|
— |
|
|
(6,219 |
) |
Issuance costs associated with redeemed preferred shares |
|
— |
|
|
— |
|
|
(6,847 |
) |
Income attributable to share-based compensation awards |
|
(656 |
) |
|
(462 |
) |
|
(449 |
) |
Numerator for basic EPS on net income attributable to COPT common shareholders |
|
$ |
191,036 |
|
|
$ |
71,839 |
|
|
$ |
55,230 |
|
Redeemable noncontrolling interests |
|
132 |
|
|
— |
|
|
— |
|
Income attributable to share-based compensation awards |
|
33 |
|
|
— |
|
|
— |
|
Numerator for diluted EPS on net income attributable to COPT common shareholders |
|
$ |
191,201 |
|
|
$ |
71,839 |
|
|
$ |
55,230 |
|
Denominator (all weighted averages): |
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|
|
|
|
|
Denominator for basic EPS (common shares) |
|
111,196 |
|
|
103,946 |
|
|
98,969 |
|
Dilutive effect of redeemable noncontrolling interests |
|
119 |
|
|
— |
|
|
— |
|
Dilutive effect of share-based compensation awards |
|
308 |
|
|
134 |
|
|
132 |
|
Dilutive effect of forward equity sale agreements |
|
— |
|
|
45 |
|
|
54 |
|
Denominator for diluted EPS (common shares) |
|
111,623 |
|
|
104,125 |
|
|
99,155 |
|
Basic EPS |
|
$ |
1.72 |
|
|
$ |
0.69 |
|
|
$ |
0.56 |
|
Diluted EPS |
|
$ |
1.71 |
|
|
$ |
0.69 |
|
|
$ |
0.56 |
|
Summaries of the numerator and denominator for purposes of basic and diluted EPU calculations are set forth below (in thousands, except per unit data):
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|
|
|
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|
|
|
For the Years Ended December 31, |
|
|
2019 |
|
2018 |
|
2017 |
Numerator: |
|
|
|
|
|
|
Net income attributable to COPLP |
|
$ |
194,619 |
|
|
$ |
74,703 |
|
|
$ |
71,295 |
|
Preferred unit distributions |
|
(564 |
) |
|
(660 |
) |
|
(6,879 |
) |
Issuance costs associated with redeemed preferred units |
|
— |
|
|
— |
|
|
(6,847 |
) |
Income attributable to share-based compensation awards |
|
(785 |
) |
|
(462 |
) |
|
(449 |
) |
Numerator for basic EPU on net income attributable to COPLP common unitholders |
|
193,270 |
|
|
73,581 |
|
|
57,120 |
|
Redeemable noncontrolling interests |
|
132 |
|
|
— |
|
|
— |
|
Income attributable to share-based compensation awards |
|
33 |
|
|
— |
|
|
— |
|
Numerator for diluted EPU on net income attributable to COPLP common unitholders |
|
$ |
193,435 |
|
|
$ |
73,581 |
|
|
$ |
57,120 |
|
Denominator (all weighted averages): |
|
|
|
|
|
|
Denominator for basic EPU (common units) |
|
112,495 |
|
|
106,414 |
|
|
102,331 |
|
Dilutive effect of redeemable noncontrolling interests |
|
119 |
|
|
— |
|
|
— |
|
Dilutive effect of share-based compensation awards |
|
308 |
|
|
134 |
|
|
132 |
|
Dilutive effect of forward equity sale agreements |
|
— |
|
|
45 |
|
|
54 |
|
Denominator for diluted EPU (common units) |
|
112,922 |
|
|
106,593 |
|
|
102,517 |
|
Basic EPU |
|
$ |
1.72 |
|
|
$ |
0.69 |
|
|
$ |
0.56 |
|
Diluted EPU |
|
$ |
1.71 |
|
|
$ |
0.69 |
|
|
$ |
0.56 |
|
|
| Schedule of securities excluded from computation of diluted earnings per share |
Our diluted EPS computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPS for the respective periods (in thousands):
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Weighted Average Shares Excluded from Denominator for the Years Ended December 31, |
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|
2019 |
|
2018 |
|
2017 |
Conversion of common units |
|
1,299 |
|
|
2,468 |
|
|
3,362 |
|
Conversion of redeemable noncontrolling interests |
|
896 |
|
|
936 |
|
|
689 |
|
Conversion of Series I preferred units |
|
176 |
|
|
176 |
|
|
176 |
|
Our diluted EPU computations do not include the effects of the following securities since the conversions of such securities would increase diluted EPU for the respective periods (in thousands):
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|
Weighted Average Units Excluded from Denominator for the Years Ended December 31, |
|
|
2019 |
|
2018 |
|
2017 |
Conversion of redeemable noncontrolling interests |
|
896 |
|
|
936 |
|
|
689 |
|
Conversion of Series I preferred units |
|
176 |
|
|
176 |
|
|
176 |
|
|