Hudson Pacific Properties Just Filed Its Quarterly Report: Earnings Per ShareTh...

Earnings Per Share

The Company calculates basic earnings per share by dividing the net income available to common stockholders for the period by the weighted average number of common shares outstanding during the period. The Company calculates diluted earnings per share by dividing the net income available to common stockholders for the period by the weighted average number of common shares and dilutive instruments outstanding during the period using the treasury stock method or the if-converted method. Unvested time-based RSUs and unvested OPP awards that contain nonforfeitable rights to dividends are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per share computations for net income available to common stockholders:
 
Three months ended September 30,
 
Nine months ended September 30,
 
2016
 
2015
 
2016
 
2015
Numerator:
 
 
 
 
 
 
 
Net income (loss)
$
5,217

 
$
(1,828
)
 
$
15,228

 
$
(13,337
)
Preferred dividends
(159
)
 
(3,195
)
 
(477
)
 
(9,585
)
Income attributable to participating securities
(196
)
 
(79
)
 
(589
)
 
(229
)
Income attributable to non-controlling interest in consolidated entities
(2,525
)
 
(1,273
)
 
(6,866
)
 
(4,668
)
(Income) loss attributable to non-controlling units of the operating partnership
(490
)
 
2,470

 
(2,357
)
 
17,872

Numerator for basic and diluted net income (loss) available to common stockholders
$
1,847

 
$
(3,905
)
 
$
4,939

 
$
(9,947
)
Denominator:
 
 
 
 
 
 
 
Basic weighted average common shares outstanding
115,083,622

 
88,984,236

 
99,862,583

 
84,894,863

Effect of dilutive instruments(1)
1,179,000

 

 
1,117,000

 

Diluted weighted average common shares outstanding
116,262,622

 
88,984,236

 
100,979,583

 
84,894,863

Basic earnings per common share:
$
0.02

 
$
(0.04
)
 
$
0.05

 
$
(0.12
)
Diluted earnings per common share:
$
0.02

 
$
(0.04
)
 
$
0.05

 
$
(0.12
)
________________
(1)
The Company includes unvested awards as contingently issuable shares in the computation of diluted EPS once the market criteria are met, assuming that the end of the reporting period is the end of the contingency period.  Any anti-dilutive securities are excluded from the diluted EPS calculation.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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