Net Income Available to Common Stockholders Per Share of the Company

The following table reconciles the numerator and denominator in computing the Company’s basic and diluted per-share computations for net income available to common stockholders for the years ended December 31, 2014, 2013 and 2012:



	Year Ended December 31,
	2014			2013			2012
	(in thousands, except unit and per unit amounts)
Numerator:
Income (loss) from continuing operations	$	59,313		$	14,935		$	(5,475	)
(Income) loss from continuing operations attributable to noncontrolling common units of the Operating Partnership	(966		)	(36		)	656
Preferred distributions and dividends	(13,250		)	(13,250		)	(21,088		)
Allocation to participating securities ⁽¹⁾	(1,699		)	(1,689		)	(1,602		)
Numerator for basic and diluted income (loss) from continuing operations available to common stockholders	43,398			(40		)	(27,509		)
Income from discontinued operations	124,495			29,630			282,576
Income from discontinued operations attributable to noncontrolling common units of the Operating Partnership	(2,623		)	(649		)	(6,843		)
Numerator for basic and diluted net income available to common stockholders	$	165,270		$	28,941		$	248,224
Denominator:
Basic weighted average vested shares outstanding	83,090,235			77,343,853			69,639,623
Effect of dilutive securities – contingently issuable shares and stock options	1,877,485			—			—
Diluted weighted average vested shares and common stock equivalents outstanding	84,967,720			77,343,853			69,639,623
Basic earnings per share:
Income (loss) from continuing operations available to common stockholders per share	$	0.52		$	0.00		$	(0.40	)
Income from discontinued operations per share of common stock	1.47			0.37			3.96
Net income available to common stockholders per share	$	1.99		$	0.37		$	3.56
Diluted earnings per share:
Income (loss) from continuing operations available to common stockholders per share	$	0.51		$	0.00		$	(0.40	)
Income from discontinued operations per share of common stock	1.44			0.37			3.96
Net income available to common stockholders per share	$	1.95		$	0.37		$	3.56

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(1)	Participating securities include nonvested shares, certain time-based RSUs and vested market measure-based RSUs.

For the year ended December 31, 2014, contingently issuable shares were considered in our diluted earnings per share calculation because we reported income from continuing operations attributable to common stockholders in the respective periods and the effect was dilutive. For the years ended December 31, 2013 and 2012, contingently issuable shares were not considered in our diluted earnings per share calculation because we reported losses from continuing operations attributable to common stockholders in the respective periods and the effect was anti dilutive. Contingently issuable shares consist of stock options and the impact of the 4.25% Exchangeable Notes prior to their maturity and settlement in November 2014.

The 2014 Performance-Based RSUs and our other nonvested market measure-based RSUs are not included in dilutive securities as of December 31, 2014 because they are not considered contingently issuable until all the necessary performance conditions have been met. The impact of our nonvested market measure-based RSUs were not included in dilutive securities as of December 31, 2013 because they were not considered contingently issuable shares as not all the necessary performance conditions were met.

See Note 7 “Secured and Unsecured Debt of the Operating Partnership” for additional information regarding the 4.25% Exchangeable Notes and Note 12 “Share-Based Compensation” for additional information regarding the stock options and other share-based compensation.