Earnings per Share and Unit (Tables)

6 Months Ended

Jun. 30, 2025

The following summarizes the calculation of basic and diluted earnings per share:


	Three months ended June 30,				Six months ended June 30,
(in thousands, except per share data)	2025		2024		2025		2024
Numerator:
Net income attributable to common shareholders - basic	$	102,608		99,255	$	208,782		205,616
Net income attributable to common shareholders - diluted	$	102,608		99,255	$	208,782		205,616
Denominator:
Weighted average common shares outstanding for basic EPS		181,543		183,703		181,497		184,188
Weighted average common shares outstanding for diluted EPS (1)		181,955		183,868		181,877		184,332
Net income per common share – basic	$	0.57		0.54	$	1.15		1.12
Net income per common share – diluted	$	0.56		0.54	$	1.15		1.12

(1)

Includes the dilutive impact of unvested restricted stock.

The following summarizes the calculation of basic and diluted earnings per unit ("EPU"):


	Three months ended June 30,				Six months ended June 30,
(in thousands, except per unit data)	2025		2024		2025		2024
Numerator:
Net income attributable to common unit holders - basic	$	103,194		99,856	$	210,010		206,859
Net income attributable to common unit holders - diluted	$	103,194		99,856	$	210,010		206,859
Denominator:
Weighted average common units outstanding for basic EPU		182,611		184,803		182,586		185,288
Weighted average common units outstanding for diluted EPU (1)		183,023		184,968		182,966		185,433
Net income per common unit – basic	$	0.57		0.54	$	1.15		1.12
Net income per common unit – diluted	$	0.56		0.54	$	1.15		1.12

(1)

Includes the dilutive impact of unvested restricted stock.