COPT Defense Properties Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share ("EPS") (Tables)

Earnings Per Share ("EPS") (Tables)

6 Months Ended

Jun. 30, 2021

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):


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2021		2020		2021		2020
Numerator:
Net income attributable to COPT	$	42,401	$	23,497	$	35,732	$	47,551
Income attributable to share-based compensation awards	(136)		(115)		(244)		(220)
Numerator for basic EPS on net income attributable to COPT common shareholders	42,265		23,382		35,488		47,331

Redeemable noncontrolling interests	(20)		—		7		—


Income attributable to share-based compensation awards	11		6		9		14
Numerator for diluted EPS on net income attributable to COPT common shareholders	$	42,256	$	23,388	$	35,504	$	47,345
Denominator (all weighted averages):
Denominator for basic EPS (common shares)	111,974		111,800		111,931		111,762


Dilutive effect of redeemable noncontrolling interests	133		—		125		—
Dilutive effect of share-based compensation awards	297		321		280		280
Denominator for diluted EPS (common shares)	112,404		112,121		112,336		112,042
Basic EPS	$	0.38	$	0.21	$	0.32	$	0.42
Diluted EPS	$	0.38	$	0.21	$	0.32	$	0.42

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):


	Weighted Average Shares Excluded from Denominator
	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2021	2020	2021	2020
Conversion of common units	1,262	1,237	1,254	1,232
Conversion of redeemable noncontrolling interests	776	878	799	944
Conversion of Series I Preferred Units	—	176	—	176