COPT Defense Properties Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Earnings Per Share ("EPS") (Tables)

Earnings Per Share ("EPS") (Tables)

12 Months Ended

Dec. 31, 2023

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 Years Ended December 31,
	2023		2022		2021
Numerator:
(Loss) income from continuing operations	$	(74,347)	$	149,249	$	78,220


Loss (income) from continuing operations attributable to noncontrolling interests	878		(5,372)		(4,994)
Income from continuing operations attributable to share-based compensation awards for basic EPS	(1,199)		(451)		(467)
Numerator for basic EPS from continuing operations attributable to common shareholders	$	(74,668)	$	143,426	$	72,759
Redeemable noncontrolling interests	—		(169)		(128)
Adjustment to income from continuing operations attributable to share-based compensation awards for diluted EPS	—		78		44
Numerator for diluted EPS from continuing operations attributable to common shareholders	$	(74,668)	$	143,335	$	72,675
Discontinued operations	—		29,573		3,358
Discontinued operations attributable to noncontrolling interests	—		(421)		(43)
Income from discontinued operations attributable to share-based compensation awards for diluted EPS	—		(90)		6
Numerator for diluted EPS on net (loss) income attributable to common shareholders	$	(74,668)	$	172,397	$	75,996

Denominator (all weighted averages):
Denominator for basic EPS (common shares)	112,178		112,073		111,960
Dilutive effect of redeemable noncontrolling interests	—		116		128
Dilutive effect of share-based compensation awards	—		431		330


Denominator for diluted EPS (common shares)	112,178		112,620		112,418

Basic EPS attributable to common shareholders:
(Loss) income from continuing operations	$	(0.67)	$	1.28	$	0.65
Discontinued operations	—		0.26		0.03
Net (loss) income	$	(0.67)	$	1.54	$	0.68
Diluted EPS attributable to common shareholders:
(Loss) income from continuing operations	$	(0.67)	$	1.27	$	0.65
Discontinued operations	—		0.26		0.03
Net (loss) income	$	(0.67)	$	1.53	$	0.68

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 Years Ended December 31,
	2023	2022	2021
Conversion of common units	1,509	1,454	1,257
Conversion of redeemable noncontrolling interests	969	866	804