Basic earnings per share is computed using net income attributable to common shareholders and the weighted average number of common shares outstanding. Diluted earnings per share reflects common shares issuable from the assumed conversion of common share options and unvested share awards as well as units convertible into common shares. Only those items having a dilutive impact on our basic earnings per share are included in diluted earnings per share. Our unvested share-based awards are considered participating securities and are reflected in the calculation of basic and diluted earnings per share using the two-class method. Common shares under a forward sale agreement, if any, will be considered in our calculation for diluted earnings-per-share until settlement using the if-converted method.

The number of common share equivalent securities excluded from the diluted earnings per share calculation was approximately 1.1 million and 1.8 million the three months ended June 30, 2025 and 2024, respectively, and 1.8 million for each of the six months ended June 30, 2025 and 2024. These securities, which include share awards granted and units convertible into common shares, are anti-dilutive and were therefore excluded from the diluted earnings per share calculations. The following table presents information necessary to calculate basic and diluted earnings per share for the periods indicated:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share amounts)	2025		2024		2025		2024
Earnings per common share calculation – basic
Net income attributable to common shareholders	$	80,670	$	42,917	$	119,492	$	126,806
Amount allocated to participating securities	(173)		(78)		(266)		(233)


Net income attributable to common shareholders – basic	$	80,497	$	42,839	$	119,226	$	126,573



Total earnings per common share – basic	$	0.74	$	0.40	$	1.10	$	1.17

Weighted average number of common shares outstanding – basic	108,636		108,406		108,584		108,556

Earnings per common share calculation – diluted
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	80,497	$	42,839	$	119,226	$	126,573
Income allocated to common units from continuing operations	537		—		—		—


Net income attributable to common shareholders – diluted	$	81,034	$	42,839	$	119,226	$	126,573



Total earnings per common share – diluted	$	0.74	$	0.40	$	1.10	$	1.17

Weighted average number of common shares outstanding – basic	108,636		108,406		108,584		108,556

Incremental shares issuable from assumed conversion of share awards granted	39		18		52		21
Common units	725		—		—		—
Weighted average number of common shares outstanding – diluted	109,400		108,424		108,636		108,577