Quarterly report pursuant to Section 13 or 15(d)

Summary of significant accounting policies (Tables)

v3.22.1
Summary of significant accounting policies (Tables)
3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Schedule of Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents and restricted cash per the consolidated statements of cash flow to the corresponding financial statement line items in the consolidated balance sheets (in thousands):
December 31,
2021 2020
Consolidated balance sheets
Cash and cash equivalents $ 27,074  $ 69,083 
Restricted cash included in Land and building held for development, net 1,088  1,088 
Cash and cash equivalents and restricted cash at the end of the period $ 28,162  $ 70,171 
March 31,
2022 2021
Consolidated balance sheets
Cash and cash equivalents $ 104,204  $ 69,492 
Restricted cash included in Land and building held for development, net 1,088  1,088 
Cash and cash equivalents and restricted cash at the end of the period $ 105,292  $ 70,580 
Schedule of Restricted Cash
The following table provides a reconciliation of cash, cash equivalents and restricted cash per the consolidated statements of cash flow to the corresponding financial statement line items in the consolidated balance sheets (in thousands):
December 31,
2021 2020
Consolidated balance sheets
Cash and cash equivalents $ 27,074  $ 69,083 
Restricted cash included in Land and building held for development, net 1,088  1,088 
Cash and cash equivalents and restricted cash at the end of the period $ 28,162  $ 70,171 
March 31,
2022 2021
Consolidated balance sheets
Cash and cash equivalents $ 104,204  $ 69,492 
Restricted cash included in Land and building held for development, net 1,088  1,088 
Cash and cash equivalents and restricted cash at the end of the period $ 105,292  $ 70,580 
Schedule of Earnings Per Share
The following table sets forth the components of our basic and diluted net income per share that are not reflected on the face of our consolidated statements of income, including the allocation of income to common stockholders and common partnership units, the percentage of weighted average common stock and common partnership units outstanding, as well as basic and diluted weighted average common stock outstanding (in thousands):
Three Months Ended March 31,
2022   2021
Calculation of net income allocable to common stockholders
Net income $ 101,145  $ 47,507 
Net (income) loss allocated to
Preferred stockholders based upon distributions (9,580) (12,046)
Noncontrolling interests—joint venture (2)
Restricted stock unit holders (523) (164)
Net income allocable to common stockholders and noncontrolling interests—common units 91,043  35,295 
Net income allocation to noncontrolling interests—common units (19,050) (7,409)
Net income allocable to common stockholders $ 71,993  $ 27,886 
Calculation of common partnership units as a percentage of common stock equivalents
Weighted average common stock outstanding 27,607  27,495 
Weighted average common partnership units outstanding 7,305  7,305 
Total common stock equivalents 34,912  34,800 
Common partnership units as a percentage of common stock equivalents 20.9  % 21.0  %
Weighted average common stock outstanding
Basic weighted average common stock outstanding 27,607  27,495 
Net effect of dilutive stock compensation—based on treasury stock method using average market price 84  99 
Diluted weighted average common stock outstanding 27,691  27,594