(Loss) Earnings per Share of Common Stock (Tables)
|12 Months Ended|
Dec. 31, 2022
|Earnings Per Share [Abstract]|
|Basic and Diluted (Loss) Earnings Per Share of Common Stock||
The following tables set forth the computation of basic and diluted (loss) earnings per share of common stock for the years ended December 31, 2022, 2021 and 2020, respectively. The OP Units held by Non-controlling OP Unitholders (which may be redeemed for shares of common stock) have been excluded from the diluted earnings per share calculation, as there would be no effect on the amounts since the Non-controlling OP Unitholders’ share of income would also be added back to net income. Net income figures are presented net of such non-controlling interests in the earnings per share calculation.
We computed basic (loss) earnings per share for the years ended December 31, 2022, 2021 and 2020, respectively, using the weighted average number of shares outstanding during the periods. Diluted (loss) earnings per share for the years ended December 31, 2022, 2021 and 2020, reflects additional shares of common stock related to our convertible Senior Common Stock, if the effect would be dilutive, that would have been outstanding if dilutive potential shares of common stock had been issued, as well as an adjustment to net (loss) income (attributable) available to common stockholders as applicable to common stockholders that would result from their assumed issuance (dollars in thousands, except per share amounts).
(1)The weighted average number of OP Units held by Non-controlling OP Unitholders was 294,941, 316,987, and 502,586 for the years ended December 31, 2022, 2021, and 2020, respectively.
(2)We excluded convertible shares of Senior Common Stock of 363,246, 503,962 and 628,263 from the calculation of diluted earnings per share for the years ended December 31, 2022, 2021 and 2020, respectively, because it was anti-dilutive.
Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.
Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef