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)

9 Months Ended

Sep. 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 September 30,				For the Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator:
Net income (loss) attributable to COPT	$	27,101	$	(31,845)	$	62,833	$	15,706
Income attributable to share-based compensation awards	(92)		(145)		(337)		(365)
Numerator for basic EPS on net income (loss) attributable to COPT common shareholders	27,009		(31,990)		62,496		15,341

Redeemable noncontrolling interests	(89)		—		(82)		—


Income attributable to share-based compensation awards	13		—		17		6
Numerator for diluted EPS on net income (loss) attributable to COPT common shareholders	$	26,933	$	(31,990)	$	62,431	$	15,347
Denominator (all weighted averages):
Denominator for basic EPS (common shares)	111,985		111,811		111,949		111,778


Dilutive effect of redeemable noncontrolling interests	138		—		130		—
Dilutive effect of share-based compensation awards	375		—		285		278
Denominator for diluted EPS (common shares)	112,498		111,811		112,364		112,056
Basic EPS	$	0.24	$	(0.29)	$	0.56	$	0.14
Diluted EPS	$	0.24	$	(0.29)	$	0.56	$	0.14

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 September 30,		For the Nine Months Ended September 30,
	2021	2020	2021	2020
Conversion of common units	1,262	1,240	1,257	1,235
Conversion of redeemable noncontrolling interests	782	973	793	954
Conversion of Series I Preferred Units	—	176	—	176