SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2012

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following summarizes as of December 31, 2012 our assets and liabilities measured at fair value on a recurring basis by level within the Fair Value Hierarchy:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Receivable	$	—	$	—	$	2,972	$	2,972
Mutual funds	$	3,013	$	—	$	—	$	3,013
Liabilities:
Deferred Compensation	$	3,013	$	—	$	—	$	3,013

The following summarizes as of December 31, 2011 our assets and liabilities measured at fair value on a recurring basis by level within the Fair Value Hierarchy:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Mutual funds	$	2,744	$	—	$	—	$	2,744
Liabilities:
Deferred Compensation	$	2,744	$	—	$	—	$	2,744

Schedule of Revenue Earn from Rental Properties

The revenue from rental properties, impairment charges, other operating expenses and gains from dispositions of real estate related to these properties are as follows:

	Year ended December 31,
(in thousands)	2012			2011			2010
Revenues from rental properties	$	5,485		$	10,178		$	10,172
Impairment charges		(7,614	)		(4,322	)		—
Other operating expenses		(6,070	)		(3,772	)		(1,044	)
Earnings (loss) from operating activities		(8,199	)		2,084			9,128
Gains from dispositions of real estate		6,838			948			1,705
Earnings (loss) from discontinued operations	$	(1,361	)	$	3,032		$	10,833

Schedule of Earnings Per Share

Diluted earnings per common share, also gives effect to the potential dilution from the exercise of stock options utilizing the treasury stock method.

	Year ended December 31,
(in thousands):	2012			2011			2010
Earnings from continuing operations	$	13,808		$	9,424		$	40,867
Less dividend equivalents attributable to restricted stock units outstanding		(82	)		(249	)		(228	)
Earnings from continuing operations attributable to common shareholders used for basic earnings per share calculation		13,726			9,175			40,639
Earnings (loss) from discontinued operations		(1,361	)		3,032			10,833
Net earnings attributable to common shareholders used for basic earnings per share calculation	$	12,365		$	12,207		$	51,472
Weighted-average number of common shares outstanding:
Basic		33,395			33,171			27,950
Stock options		—			1			3
Diluted		33,395			33,172			27,953
Restricted stock units outstanding at the end of the period		216			171			123