General (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following summarizes as of March 31, 2015 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	$	903	$	—	$	—	$	903
Liabilities
Deferred compensation	$	—	$	903	$	—	$	903

The following summarizes as of December 31, 2014 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	$	785	$	—	$	—	$	785
Liabilities
Deferred compensation	$	—	$	785	$	—	$	785

Schedule of Real Estate Held for Sale

Real estate held for sale consisted of the following at March 31, 2015 and December 31, 2014:


	March 31,			December 31,
(in thousands)	2015			2014
Land	$	1,650		$	2,383
Buildings and improvements		1,901			3,140

		3,551			5,523
Accumulated depreciation and amortization		(621	)		(1,180	)

Real estate held for sale, net	$	2,930		$	4,343

Schedule of Earnings (Loss) from Discontinued Operations

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


	Three months ended March 31,
(in thousands)	2015			2014
Revenues from rental properties	$	114		$	905
Impairment charges		(1,185	)		(1,495	)
Other operating expenses		(96	)		(617	)

Loss from operating activities		(1,167	)		(1,207	)
Gains on dispositions of real estate		92			3,153

(Loss) earnings from discontinued operations		($1,075	)	$	1,946

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. There were 5,000 stock options excluded from the earnings per share calculations below as they were anti-dilutive as of March 31, 2015 and 2014, respectively.


	Three Months Ended March 31,
(in thousands):	2015			2014
(Loss) earnings from continuing operations		($62	)	$	7,692
Less dividend equivalents attributable to RSUs outstanding		(91	)		(83	)

(Loss) earnings from continuing operations attributable to common shareholders		(153	)		7,609

(Loss) earnings from discontinued operations		(1,075	)		1,946
Less dividend equivalents attributable to RSUs outstanding		—			(23	)

(Loss) earnings from discontinued operations attributable to common shareholders		(1,075	)		1,923

Net (loss) earnings attributable to common shareholders used for basic and diluted earnings per share calculation		($1,228	)	$	9,532

Weighted-average number of common shares outstanding:
Basic		33,417			33,397
Stock options		—			—

Diluted		33,417			33,397

RSUs outstanding at the end of the period		412			363

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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