Net Income Per Operating Patnership Unit

12 Months Ended

Dec. 31, 2016

Net Income Per Operating Partnership Unit

NET INCOME PER CLASS A SHARE

The table below provides net income and the number of Class A shares used in the computations of “basic” net income per share, which utilizes the weighted-average number of Class A shares outstanding without regard to dilutive potential Class A shares, and “diluted” net income per share, which includes all such shares. Net income attributable to Class A shares, weighted average Class A shares outstanding and the effect of dilutive securities outstanding are presented for the period subsequent to the IPO Date. Net income per share has not been presented for the Class B shareholder as the Class B share is not entitled to any economic rights in the Company.



	April 25 – December 31, 2016
	(in thousands, except share and per share amounts)
Basic net income per Class A share
Numerator:
Net income attributable to Class A shares	$	29,938
Denominator:
Basic weighted average Class A shares outstanding ⁽¹⁾	57,502,158
Basic net income per Class A share	$	0.52



	April 25 – December 31, 2016
	(in thousands, except share and per share amounts)
Diluted net income per Class A share
Numerator:
Net income attributable to Class A shares	$	29,938
Denominator:
Basic weighted average Class A shares outstanding ⁽¹⁾	57,502,158
Effect of dilutive shares for diluted net income per Class A share⁽²⁾	249,331
Weighted average shares for diluted net income per Class A share	57,751,489
Diluted net income per Class A share	$	0.52


(1)	Includes weighted average deferred share units granted to certain members of the board of directors.


(2)	No shares related to outstanding share-based compensation awards were excluded due to being antidilutive.

NET INCOME PER OPERATING PARTNERSHIP UNIT

The table below provides net income and the number of Operating Partnership units used in the computations of “basic” net income per Operating Partnership unit, which utilizes the weighted-average number of Operating Partnership units outstanding without regard to dilutive potential Operating Partnership units, and “diluted” net income per Operating Partnership units, which includes all such Operating Partnership units. Net income attributable to Operating Partnership units, weighted average Operating Partnership units outstanding and the effect of dilutive securities outstanding are presented for the period subsequent to the IPO Date.



	April 25 – December 31, 2016
	(in thousands, except unit and per unit amounts)
Basic net income per Operating Partnership unit
Numerator:
Net income	$	119,729
Denominator:
Basic weighted average Operating Partnership units outstanding	232,181,070
Basic net income per Operating Partnership unit	$	0.52



	April 25 – December 31, 2016
	(in thousands, except unit and per unit amounts)
Diluted net income per Operating Partnership unit
Numerator:
Net income	$	119,729
Denominator:
Basic weighted average Operating Partnership units outstanding ⁽¹⁾	232,181,070
Effect of dilutive shares for diluted net income per Operating Partnership unit	249,331
Weighted average shares for diluted net income per Operating Partnership unit	232,430,401
Diluted net income per Operating Partnership unit	$	0.52

MGM Growth Properties Operating Partnership LP 10-K