KIMCO REALTY CORP Earnings Per Share Disclosure
The following table sets forth the reconciliation of earnings and the weighted-average number of shares used in the calculation of basic and diluted earnings per share (amounts presented in thousands, except per share data):
|
|
For the Year Ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Computation of Basic and Diluted Earnings Per Share: |
|
|
|
|
|
|
|
|
|
|||
Net income available to the Company's common shareholders |
|
$ |
554,430 |
|
|
$ |
375,718 |
|
|
$ |
629,252 |
|
Change in redeemable noncontrolling interests' carrying amount |
|
|
(732 |
) |
|
|
(1,691 |
) |
|
|
2,323 |
|
Earnings attributable to participating securities |
|
|
(2,525 |
) |
|
|
(2,766 |
) |
|
|
(2,819 |
) |
Net income available to the Company’s common shareholders for basic |
|
|
551,173 |
|
|
|
371,261 |
|
|
|
628,756 |
|
Distributions on convertible units |
|
|
36 |
|
|
|
- |
|
|
|
53 |
|
Net income available to the Company’s common shareholders for diluted |
|
$ |
551,209 |
|
|
$ |
371,261 |
|
|
$ |
628,809 |
|
|
|
|
|
|
|
|
|
|
|
|||
Weighted average common shares outstanding – basic |
|
|
675,050 |
|
|
|
671,561 |
|
|
|
616,947 |
|
Effect of dilutive securities (1): |
|
|
|
|
|
|
|
|
|
|||
Equity awards |
|
|
138 |
|
|
|
523 |
|
|
|
1,132 |
|
Assumed conversion of convertible units |
|
|
91 |
|
|
|
52 |
|
|
|
120 |
|
Weighted average common shares outstanding – diluted |
|
|
675,279 |
|
|
|
672,136 |
|
|
|
618,199 |
|
|
|
|
|
|
|
|
|
|
|
|||
Net income available to the Company's common shareholders: |
|
|
|
|
|
|
|
|
|
|||
Basic earnings per share |
|
$ |
0.82 |
|
|
$ |
0.55 |
|
|
$ |
1.02 |
|
Diluted earnings per share |
|
$ |
0.82 |
|
|
$ |
0.55 |
|
|
$ |
1.02 |
|
The following table sets forth the reconciliation of Kimco OP’s earnings and the weighted-average number of units used in the calculation of basic and diluted earnings per unit (amounts presented in thousands except per unit data):
|
|
For the Year Ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Computation of Basic and Diluted Earnings Per Unit: |
|
|
|
|
|
|
|
|
|
|||
Net income available to Kimco OP’s common unitholders |
|
$ |
555,604 |
|
|
$ |
376,373 |
|
|
$ |
629,252 |
|
Change in redeemable noncontrolling interests' carrying amount |
|
|
(732 |
) |
|
|
(1,691 |
) |
|
|
2,323 |
|
Earnings attributable to participating securities |
|
|
(2,861 |
) |
|
|
(2,883 |
) |
|
|
(2,819 |
) |
Net income available to Kimco OP’s common unitholders |
|
|
552,011 |
|
|
|
371,799 |
|
|
|
628,756 |
|
Distributions on convertible units |
|
|
36 |
|
|
|
- |
|
|
|
53 |
|
Net income available to Kimco OP’s common shareholders for diluted |
|
$ |
552,047 |
|
|
$ |
371,799 |
|
|
$ |
628,809 |
|
|
|
|
|
|
|
|
|
|
|
|||
Weighted average common units outstanding – basic |
|
|
676,042 |
|
|
|
672,512 |
|
|
|
616,947 |
|
Effect of dilutive securities (1): |
|
|
|
|
|
|
|
|
|
|||
Equity awards |
|
|
138 |
|
|
|
523 |
|
|
|
1,132 |
|
Assumed conversion of convertible units |
|
|
90 |
|
|
|
51 |
|
|
|
120 |
|
Weighted average common units outstanding – diluted |
|
|
676,270 |
|
|
|
673,086 |
|
|
|
618,199 |
|
|
|
|
|
|
|
|
|
|
|
|||
Net income available to Kimco OP’s common unitholders: |
|
|
|
|
|
|
|
|
|
|||
Basic earnings per unit |
|
$ |
0.82 |
|
|
$ |
0.55 |
|
|
$ |
1.02 |
|
Diluted earnings per unit |
|
$ |
0.82 |
|
|
$ |
0.55 |
|
|
$ |
1.02 |
|
The Company's unvested restricted share/unit awards contain non-forfeitable rights to distributions or distribution equivalents. The impact of the unvested restricted share/unit awards on earnings per share/unit has been calculated using the two-class method whereby earnings are allocated to the unvested restricted share/unit awards based on dividends declared and the unvested restricted shares/units' participation rights in undistributed earnings.
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.