Xenia Hotels & Resorts, Inc.XHR

Xenia Hotels & Resorts, Inc. Earnings Per Share Disclosure

10-KFiled Feb 24, 20262 min read
Earnings Per Share
Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing net income or loss available to common stockholders by the weighted-average number of common shares outstanding during the period plus any shares that could potentially be outstanding during the period. Any anti-dilutive shares have been excluded from the diluted earnings per share calculation.
Unvested share-based awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of earnings per share pursuant to the two-class method. Accordingly, distributed and undistributed earnings attributable to unvested share-based compensation have been excluded, as applicable, from net income available to common stockholders used in the basic and diluted earnings per share calculations.
Income or loss allocated to non-controlling interests in the Operating Partnership has been excluded from the numerator and Operating Partnership Units and LTIP Units in the Operating Partnership have been omitted from the denominator for the purpose of computing diluted earnings per share since including these amounts in the numerator and denominator would have no impact. 
The following table reconciles net income attributable to common stockholders to basic and diluted earnings per share for the years ended December 31, 2025, 2024 and 2023 (in thousands, except share and per share data):
Year Ended December 31,
 202520242023
Numerator:
Net income attributable to common stockholders
$
63,088 
$
16,143 
$
19,142 
Dividends paid on unvested share-based compensation
(475)
(381)
(257)
Undistributed earnings attributable to unvested share-based compensation
(23)
— 
— 
Net income available to common stockholders$62,590 $15,762 $18,885 
Denominator:
Weighted-average shares outstanding - Basic
96,711,589 
101,846,303 
108,192,148 
Effect of dilutive share-based compensation
451,286 
425,091 
220,337 
Weighted-average shares outstanding - Diluted
97,162,875 
102,271,394 
108,412,485 
Basic and diluted earnings per share:
Net income per share available to common stockholders - basic and diluted
$
0.64 
$
0.15 
$0.17 

Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 25, 2025
2023Feb 27, 2024
2022Mar 2, 2023
2021Mar 1, 2022
2020Mar 1, 2021
2019Feb 25, 2020
2018Feb 26, 2019
2017Feb 27, 2018
2016Feb 28, 2017
2015Mar 10, 2016

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.

Other Available Disclosures

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