| 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, |
| |
2022 |
|
2021 |
|
2022 |
|
2021 |
| Numerator: |
|
|
|
|
|
|
|
| Income from continuing operations |
$ |
33,595 |
|
|
$ |
43,219 |
|
|
$ |
64,846 |
|
|
$ |
36,325 |
|
| Income from continuing operations attributable to noncontrolling interests |
(1,285) |
|
|
(1,488) |
|
|
(2,369) |
|
|
(2,068) |
|
| Income from continuing operations attributable to share-based compensation awards for basic EPS |
(92) |
|
|
(134) |
|
|
(204) |
|
|
(247) |
|
| Numerator for basic EPS from continuing operations attributable to COPT common shareholders |
32,218 |
|
|
41,597 |
|
|
62,273 |
|
|
34,010 |
|
|
|
|
|
|
|
|
|
| Redeemable noncontrolling interests |
(30) |
|
|
(20) |
|
|
(69) |
|
|
7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Adjustment to income from continuing operations attributable to share-based compensation awards for diluted EPS |
17 |
|
|
11 |
|
|
35 |
|
|
9 |
|
| Numerator for diluted EPS from continuing operations attributable to COPT common shareholders |
32,205 |
|
|
41,588 |
|
|
62,239 |
|
|
34,026 |
|
| Discontinued operations |
— |
|
|
679 |
|
|
29,573 |
|
|
1,494 |
|
| Discontinued operations attributable to noncontrolling interests |
— |
|
|
(9) |
|
|
(421) |
|
|
(19) |
|
| Income from discontinued operations attributable to share-based compensation awards for diluted EPS |
— |
|
|
(2) |
|
|
(90) |
|
|
3 |
|
| Numerator for diluted EPS on net income attributable to COPT common shareholders |
$ |
32,205 |
|
|
$ |
42,256 |
|
|
$ |
91,301 |
|
|
$ |
35,504 |
|
|
|
|
|
|
|
|
|
| Denominator (all weighted averages): |
|
|
|
|
|
|
|
| Denominator for basic EPS (common shares) |
112,082 |
|
|
111,974 |
|
|
112,052 |
|
|
111,931 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dilutive effect of redeemable noncontrolling interests |
126 |
|
|
133 |
|
|
129 |
|
|
125 |
|
| Dilutive effect of share-based compensation awards |
429 |
|
|
297 |
|
|
427 |
|
|
280 |
|
| Denominator for diluted EPS (common shares) |
112,637 |
|
|
112,404 |
|
|
112,608 |
|
|
112,336 |
|
|
|
|
|
|
|
|
|
| Basic EPS: |
|
|
|
|
|
|
|
| Income from continuing operations attributable to COPT common shareholders |
$ |
0.29 |
|
|
$ |
0.37 |
|
|
$ |
0.55 |
|
|
$ |
0.30 |
|
| Discontinued operations attributable to COPT common shareholders |
— |
|
|
0.01 |
|
|
0.26 |
|
|
0.02 |
|
| Net income attributable to COPT common shareholders |
$ |
0.29 |
|
|
$ |
0.38 |
|
|
$ |
0.81 |
|
|
$ |
0.32 |
|
| Diluted EPS: |
|
|
|
|
|
|
|
| Income from continuing operations attributable to COPT common shareholders |
$ |
0.29 |
|
|
$ |
0.37 |
|
|
$ |
0.55 |
|
|
$ |
0.30 |
|
| Discontinued operations attributable to COPT common shareholders |
— |
|
|
0.01 |
|
|
0.26 |
|
|
0.02 |
|
| Net income attributable to COPT common shareholders |
$ |
0.29 |
|
|
$ |
0.38 |
|
|
$ |
0.81 |
|
|
$ |
0.32 |
|
|
| 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, |
| |
2022 |
|
2021 |
|
2022 |
|
2021 |
| Conversion of common units |
1,476 |
|
|
1,262 |
|
|
1,430 |
|
|
1,254 |
|
| Conversion of redeemable noncontrolling interests |
863 |
|
|
776 |
|
|
835 |
|
|
799 |
|
|
|
|
|
|
|
|
|
|