| Schedule of Net Income Per Common Share |
The following table reconciles the numerators and denominators of the basic and diluted net income per common shares computation for the three and nine months ended September 30, 2026 and 2025, respectively: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | | | (Amounts in thousands, except per share data) | Numerator for basic and dilutive net income per common share – net income allocable to common shareholders | $ | 312,281 | | | $ | 461,408 | | | $ | 1,239,327 | | | $ | 1,128,606 | | | | | Effect of assumed conversion of noncontrolling interest shares | 804 | | | — | | | 2,317 | | | — | | | | | Numerator for dilutive net income per common share- net income allocable to common shareholders | $ | 313,085 | | | $ | 461,408 | | | $ | 1,241,644 | | | $ | 1,128,606 | | | | | | | | | | | | | | Denominator for basic net income per share - weighted average common shares outstanding | 184,159 | | | 175,456 | | | 178,444 | | | 175,439 | | | | | Net effect of dilutive stock options and AO LTIP units - based on treasury stock method | 481 | | | 428 | | | 457 | | | 477 | | | | | Net effect of noncontrolling interest shares - based on if-converted method | 470 | | | — | | | 470 | | | — | | | | Denominator for dilutive net income per share - weighted average common shares outstanding | 185,110 | | | 175,884 | | | 179,371 | | | 175,916 | | | | | | | | | | | | | | | Net income per common share: | | | | | | | | | | | Basic | $ | 1.70 | | | $ | 2.63 | | | $ | 6.95 | | | $ | 6.43 | | | | | Dilutive | $ | 1.69 | | | $ | 2.62 | | | $ | 6.92 | | | $ | 6.42 | | | |
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