Earnings Per Share and Earnings Per Unit (Tables)

3 Months Ended

Mar. 31, 2023

Computation of Basic and Diluted Earnings Per Common Share/Unit

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per common share of the Parent Company utilizing the two-class method.


(in thousands except per share data)	Three Months Ended March 31, 2023		Three Months Ended March 31, 2022
Numerator:
Net income attributable to common shareholders	$	81,608	$	73,575
Denominator:
Denominator for basic earnings per share – weighted average shares		84,936		83,644
Effect of Dilutive Securities:
Stock options and non-vested stock		442		194
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversion		85,378		83,838
Basic earnings per common share attributable to common shareholders	$	0.96	$	0.88
Diluted earnings per common share attributable to common shareholders	$	0.96	$	0.88

Earnings Per Unit

The following table sets forth the computation of basic and diluted earnings per common unit of the Operating Partnership utilizing the two-class method.


(in thousands except per unit data)	Three Months Ended March 31, 2023		Three Months Ended March 31, 2022
Numerator:
Net income attributable to common unitholders	$	81,608	$	73,575
Denominator:
Denominator for basic earnings per unit – weighted average units		84,936		83,644
Effect of Dilutive Securities:
Stock options and non-vested stock		442		194
Denominator for diluted earnings per unit – adjusted weighted average units and assumed conversion		85,378		83,838
Basic earnings per common unit attributable to common unitholders	$	0.96	$	0.88
Diluted earnings per common unit attributable to common unitholders	$	0.96	$	0.88

LIFE STORAGE, INC. 10-Q