The following table reconciles the numerators and denominators of the basic and diluted net income per common shares computation for the three and six months ended June 30, 2025 and 2024, respectively (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | | | | | | | 2025 | | 2024 | | 2025 | | 2024 | | | | Numerator for basic and dilutive net income per common share – net income allocable to common shareholders | $ | 308,968 | | $ | 468,366 | | $ | 667,198 | | $ | 927,575 | | | | | | | | | | | | | | Denominator for basic net income per share - weighted average common shares outstanding | 175,442 | | 175,469 | | 175,431 | | 175,585 | | | | Net effect of dilutive stock options and AO LTIP units - based on treasury stock method | 479 | | 540 | | 501 | | 595 | | | | Denominator for dilutive net income per share - weighted average common shares outstanding | 175,921 | | 176,009 | | 175,932 | | 176,180 | | | | | | | | | | | | | | Net income per common share: | | | | | | | | | | | Basic | $ | 1.76 | | $ | 2.67 | | $ | 3.80 | | $ | 5.28 | | | | Dilutive | $ | 1.76 | | $ | 2.66 | | $ | 3.79 | | $ | 5.26 | | |
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