Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share ("EPS") and Earnings Per Unit ("EPU") (Tables)

v3.20.1
Earnings Per Share ("EPS") and Earnings Per Unit ("EPU") (Tables)
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
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 EPU calculations are set forth below (in thousands, except per unit data):
 
For the Three Months Ended March 31,
 
2020
 
2019
Numerator:
 

 
 

Net income attributable to COPLP
$
24,418

 
$
21,281

Preferred unit distributions
(77
)
 
(165
)
Income attributable to share-based compensation awards
(121
)
 
(93
)
Numerator for basic and diluted EPU on net income attributable to COPLP common unitholders
$
24,220

 
$
21,023

Denominator (all weighted averages):
 

 
 

Denominator for basic EPU (common units)
112,950

 
111,282

Dilutive effect of share-based compensation awards
239

 
267

Denominator for diluted EPU (common units)
113,189

 
111,549

Basic EPU
$
0.21

 
$
0.19

Diluted EPU
$
0.21

 
$
0.19


Summaries of the numerator and denominator for purposes of basic and diluted EPS calculations are set forth below (in thousands, except per share data):
 
For the Three Months Ended March 31,
 
2020
 
2019
Numerator:
 

 
 

Net income attributable to COPT
$
24,054

 
$
20,859

Income attributable to share-based compensation awards
(105
)
 
(86
)
Numerator for basic EPS on net income attributable to COPT common shareholders
23,949

 
20,773

Income attributable to share-based compensation awards
8

 
—

Numerator for diluted EPS on net income attributable to COPT common shareholders
$
23,957

 
$
20,773

Denominator (all weighted averages):
 

 
 

Denominator for basic EPS (common shares)
111,724

 
109,951

Dilutive effect of share-based compensation awards
239

 
267

Denominator for diluted EPS (common shares)
111,963

 
110,218

Basic EPS
$
0.21

 
$
0.19

Diluted EPS
$
0.21

 
$
0.19


Schedule of securities excluded from computation of diluted earnings per share
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):
 
Weighted Average Shares Excluded from Denominator
 
For the Three Months Ended March 31,
 
2020
 
2019
Conversion of redeemable noncontrolling interests
1,011

 
1,013

Conversion of Series I preferred units
176

 
176


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):
 
Weighted Average Shares Excluded from Denominator
 
For the Three Months Ended March 31,
 
2020
 
2019
Conversion of common units
1,226

 
1,331

Conversion of redeemable noncontrolling interests
1,011

 
1,013

Conversion of Series I preferred units
176

 
176