General (Tables)

9 Months Ended

Sep. 30, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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

The following summarizes as of September 30, 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	$	853	$	—	$	—	$	853
Liabilities
Deferred compensation	$	—	$	853	$	—	$	853

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 September 30, 2015 and December 31, 2014:

	September 30,			December 31,
(in thousands)	2015			2014
Land	$	698		$	2,383
Buildings and improvements		874			3,140
		1,572			5,523
Accumulated depreciation and amortization		(267	)		(1,180	)
Real estate held for sale, net	$	1,305		$	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 September 30,						Nine months ended September 30,
(in thousands)	2015			2014			2015			2014
Revenues from rental properties	$	5		$	622		$	166		$	2,163
Impairment charges		(2,760	)		(1,985	)		(4,574	)		(5,018	)
Other operating income (expenses)		1,039			(164	)		1,588			(1,287	)
Loss from operating activities		(1,716	)		(1,527	)		(2,820	)		(4,142	)
Gains on dispositions of real estate		228			2,757			352			7,127
(Loss) earnings from discontinued operations	$	(1,488	)	$	1,230		$	(2,468	)	$	2,985

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 September 30, 2015 and 2014, respectively.

	Three months ended September 30,						Nine months ended September 30,
(in thousands)	2015			2014			2015			2014
Earnings from continuing operations	$	8,523		$	9,005		$	19,985		$	23,525
Less dividend equivalents attributable to RSUs outstanding		(96	)		(89	)		(273	)		(240	)
Earnings from continuing operations attributable to common shareholders		8,427			8,916			19,712			23,285
(Loss) earnings from discontinued operations		(1,488	)		1,230			(2,468	)		2,985
Less dividend equivalents attributable to RSUs outstanding		—			(12	)		—			(31	)
(Loss) earnings from discontinued operations attributable to common shareholders		(1,488	)		1,218			(2,468	)		2,954
Net earnings attributable to common shareholders used for basic and diluted earnings per share calculation	$	6,939		$	10,134		$	17,244		$	26,239
Weighted-average number of common shares outstanding:
Basic		33,422			33,417			33,420			33,406
Diluted		33,422			33,417			33,420			33,406
RSUs outstanding at the end of the period		401			333			401			333