Company: SLG-PI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001040971-25-000022
Chunk: 81

Company: SL GREEN REALTY CORP
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 81
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 per ShareWe use the two-class method of computing earnings per share (“EPS”), which is an earnings allocation formula that determines EPS for common stock and any participating securities according to dividends declared (whether paid or unpaid). Under the two-class method, basic EPS is computed by dividing the income available to common stockholders by the weighted-average number of common stock shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from share equivalent activity.

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Table of ContentsSL Green Realty Corp. and SL Green Operating Partnership, L.P.Notes to Consolidated Financial Statements (cont.)March 31, 2025(unaudited)

SL Green's earnings per share for the three months ended March 31, 2025 and 2024 are computed as follows (in thousands):Three Months Ended March 31,Numerator20252024Basic (Loss) Earnings:(Loss) income attributable to SL Green common stockholders$(21,075)$13,141 Less: distributed earnings allocated to participating securities(362)(434)Net (loss) income attributable to SL Green common stockholders (numerator for basic earnings per share)$(21,437)$12,707 Add back: dilutive effect of earnings allocated to participating securities and contingently issuable shares— 434 Add back: effect of dilutive securities (redemption of units to common shares)— 901 (Loss) income attributable to SL Green common stockholders (numerator for diluted earnings per share)$(21,437)$14,042 Three Months Ended March 31,Denominator20252024Basic Shares:Weighted average common stock outstanding70,424 64,328 Effect of Dilutive Securities:Operating Partnership units redeemable for common shares— 4,439 Stock-based compensation plans— 1,328 Diluted weighted average common stock outstanding70,424 70,095 The Company has excluded 6,262,427 and 135,000 common stock equivalents from the calculation of diluted shares outstanding for the three months ended March 31, 2025 and 2024, respectively, as they were anti-dilutive.

13. Partners' Capital of the Operating Partnership

The Company is the sole managing general partner of the Operating Partnership and at March 31, 2025 owned 71,016,448 general and limited partnership interests in the Operating Partnership and 9,200,000 Series I Preferred Units. Partnership interests in the Operating Partnership are denominated as “common units of limited