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

Earnings Per Share ("EPS") (Tables)

Earnings Per Share ("EPS") (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31,
		2022		2021
Numerator:
Income (loss) from continuing operations		$	31,251	$	(6,894)
Income from continuing operations attributable to noncontrolling interests		(1,084)		(580)
Income from continuing operations attributable to share-based compensation awards for basic EPS		(116)		(172)
Numerator for basic EPS from continuing operations attributable to COPT common shareholders		30,051		(7,646)

Redeemable noncontrolling interests		(39)		—


Adjustment to income from continuing operations attributable to share-based compensation awards for diluted EPS		18		—
Numerator for diluted EPS from continuing operations attributable to COPT common shareholders		30,030		(7,646)
Discontinued operations		29,573		815
Discontinued operations attributable to noncontrolling interests		(421)		(10)
Income from discontinued operations attributable to share-based compensation awards for diluted EPS		(83)		2
Numerator for diluted EPS on net income (loss) attributable to COPT common shareholders		$	59,099	$	(6,839)

Denominator (all weighted averages):
Denominator for basic EPS (common shares)		112,020		111,888


Dilutive effect of redeemable noncontrolling interests		132		—
Dilutive effect of share-based compensation awards		426		—
Denominator for diluted EPS (common shares)		112,578		111,888

Basic EPS:
Income (loss) from continuing operations attributable to COPT common shareholders		$	0.27	$	(0.07)
Discontinued operations attributable to COPT common shareholders		0.26		0.01
Net income (loss) attributable to COPT common shareholders		$	0.53	$	(0.06)
Diluted EPS:
Income (loss) from continuing operations attributable to COPT common shareholders		$	0.27	$	(0.07)
Discontinued operations attributable to COPT common shareholders		0.25		0.01
Net income (loss) attributable to COPT common shareholders		$	0.52	$	(0.06)

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 March 31,
			2022	2021
Conversion of common units			1,384	1,246
Conversion of redeemable noncontrolling interests			806	940