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

Earnings Per Share

The Company calculates basic earnings per share by dividing the net income (loss) available to common stockholders for the period by the weighted average number of common shares outstanding during the period. The Company calculates dilute d earnings per share by dividing the diluted net income (loss) 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 earnings per share for net income (loss) available to common stockholders:
 
For the Year Ended December 31,
 
2016
 
2015
 
2014
Numerator:
 
 
 
 
 
Net income (loss)
$
43,758

 
$
(16,082
)
 
$
23,522

Income attributable to preferred stock
(636
)
 
(12,105
)
 
(12,785
)
Original issuance costs of redeemed Series B preferred stock

 
(5,970
)
 

Income attributable to participating securities
(766
)
 
(356
)
 
(274
)
Income attributable to non-controlling interest in consolidated entities
(9,290
)
 
(3,853
)
 
(149
)
(Income) loss attributable to non-controlling units of the operating partnership
(5,848
)
 
21,969

 
(359
)
Basic net income (loss) available to common stockholders
27,218

 
(16,397
)
 
9,955

Effect of dilutive instruments
451

 

 

Diluted net income (loss) available to common stockholders
27,669

 
(16,397
)
 
9,955

Denominator:
 
 
 
 
 
Basic weighted average common shares outstanding
106,188,902

 
85,927,216

 
65,792,447

Effect of dilutive instruments(1)
4,180,153

 

 
717,000

Diluted weighted average common shares outstanding
110,369,055

 
85,927,216

 
66,509,447

Basic earnings per common share(2)
$
0.26

 
$
(0.19
)
 
$
0.15

Diluted earnings per common share(2)
$
0.25

 
$
(0.19
)
 
$
0.15

_____________
(1)
The Company includes unvested awards and convertible common units 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.
(2)
In 2014, the Company had a $164 thousand loss from discontinued operations which resulted in $0.00 basic and diluted earnings per share from discontinued operations.

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

To receive a free e-mail notification whenever Hudson Pacific Properties makes a similar move, sign up!

Other recent filings from the company include the following:

Hudson Pacific Properties director just picked up 2,076 shares - Aug. 18, 2017
Hudson Pacific Properties director just declared 0 ownership of the company. - Aug. 18, 2017
Hudson Pacific Properties Appoints - Aug. 18, 2017
Hudson Pacific Properties director just picked up 25,000 shares - Aug. 11, 2017
Hudson Pacific Properties Just Filed Its Quarterly Report: Earnings Per ShareEa... - Aug. 4, 2017

Auto Refresh

Feedback