COPT Defense Properties Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Earnings Per Share ("EPS") (Tables)

Earnings Per Share ("EPS") (Tables)

3 Months Ended

Mar. 31, 2026

Schedule 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 presented below (in thousands, except per share data):


	For the Three Months Ended March 31,
	2026		2025
Numerator


Net income attributable to common shareholders	$	38,556	$	34,740
Income attributable to share-based compensation awards for basic EPS	(191)		(167)
Numerator for basic EPS on net income attributable to common shareholders	38,365		34,573




Adjustment to income attributable to share-based compensation awards for diluted EPS	30		24
Numerator for diluted EPS on net income attributable to common shareholders	$	38,395	$	34,597





Denominator (all weighted averages)
Denominator for basic EPS (common shares)	112,806		112,383
Dilutive effect of share-based compensation awards	1,031		643
Dilutive exchangeable debt	472		—


Denominator for diluted EPS (common shares)	114,309		113,026




Basic EPS attributable to common shareholders	$	0.34	$	0.31



Diluted EPS attributable to common shareholders	$	0.34	$	0.31

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,
	2026	2025
Conversion of common units	2,063	2,047
Conversion of redeemable noncontrolling interest	793	873