| 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):
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For the Three Months Ended June 30, |
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For the Six Months Ended June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Numerator: |
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| Income from continuing operations |
$ |
31,642 |
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$ |
33,595 |
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$ |
112,040 |
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$ |
64,846 |
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| Income from continuing operations attributable to noncontrolling interests |
(1,355) |
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(1,285) |
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(2,974) |
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(2,369) |
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| Income from continuing operations attributable to share-based compensation awards for basic EPS |
(115) |
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(92) |
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(413) |
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(204) |
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| Numerator for basic EPS from continuing operations attributable to common shareholders |
30,172 |
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32,218 |
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108,653 |
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62,273 |
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| Redeemable noncontrolling interests |
(51) |
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(30) |
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(115) |
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(69) |
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| Adjustment to income from continuing operations attributable to share-based compensation awards for diluted EPS |
17 |
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17 |
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64 |
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35 |
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| Numerator for diluted EPS from continuing operations attributable to common shareholders |
30,138 |
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32,205 |
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108,602 |
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62,239 |
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| Discontinued operations |
— |
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— |
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— |
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29,573 |
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| Discontinued operations attributable to noncontrolling interests |
— |
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— |
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— |
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(421) |
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| Income from discontinued operations attributable to share-based compensation awards for diluted EPS |
— |
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— |
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— |
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(90) |
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| Numerator for diluted EPS on net income attributable to common shareholders |
$ |
30,138 |
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$ |
32,205 |
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$ |
108,602 |
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$ |
91,301 |
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| Denominator (all weighted averages): |
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| Denominator for basic EPS (common shares) |
112,188 |
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112,082 |
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112,157 |
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112,052 |
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| Dilutive effect of redeemable noncontrolling interests |
62 |
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126 |
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77 |
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129 |
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| Dilutive effect of share-based compensation awards |
426 |
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429 |
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418 |
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427 |
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| Denominator for diluted EPS (common shares) |
112,676 |
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112,637 |
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112,652 |
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112,608 |
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| Basic EPS attributable to common shareholders: |
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| Income from continuing operations |
$ |
0.27 |
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$ |
0.29 |
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$ |
0.97 |
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$ |
0.55 |
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| Discontinued operations |
— |
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— |
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— |
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0.26 |
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| Net income |
$ |
0.27 |
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$ |
0.29 |
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$ |
0.97 |
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$ |
0.81 |
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| Diluted EPS attributable to common shareholders: |
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| Income from continuing operations |
$ |
0.27 |
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$ |
0.29 |
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$ |
0.96 |
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$ |
0.55 |
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| Discontinued operations |
— |
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— |
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— |
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0.26 |
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| Net income |
$ |
0.27 |
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$ |
0.29 |
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$ |
0.96 |
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$ |
0.81 |
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| 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):
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Weighted Average Shares Excluded from Denominator |
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For the Three Months Ended June 30, |
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For the Six Months Ended June 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Conversion of common units |
1,514 |
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1,476 |
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1,502 |
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1,430 |
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| Conversion of redeemable noncontrolling interests |
934 |
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863 |
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953 |
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835 |
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