Shareholders Equity (Tables)

9 Months Ended

Sep. 30, 2012

The following table details the primary components of accumulated other comprehensive loss as of September 30, 2012, and significant activity for the nine months ended September 30, 2012 (in thousands):

Accumulated Other Comprehensive Loss	Market on Interest Rate Hedges			Deferred Gains on Settled Hedges			Other-than- Temporary Impairments			Unrealized Gains on Securities			Total

Total as of December 31, 2011		($27,423	)		$56			($16,578	)		$3,361			($40,584	)

Unrealized gain on derivative financial instruments		5,853			—			—			—			5,853
Ineffective portion of cash flow hedges (1)		2,481			—			—			—			2,481
Amortization of net unrealized gains on securities		—			—			—			(770	)		(770	)
Amortization of net deferred gains on settlement of swaps		—			(56	)		—			—			(56	)
Other-than-temporary impairments of securities (2)		—			—			409			—			409
Deconsolidation of CT Legacy Asset (3)		—			—			3,879			(2,586	)		1,293

Total as of September 30, 2012		($19,089	)		$—			($12,290	)		$5			($31,374	)

Allocation to non-controlling interest (3)														—

Accumulated other comprehensive loss as of September 30, 2012														($31,374	)


(1)	As a result of the deconsolidation of CT Legacy Asset in the first quarter of 2012, the balance of accumlated other comprehensive income related to cash flow hedges of CT Legacy Asset was reclassified to interest expense.
(2)	Represents other-than-temporary impairments of securities in excess of credit losses, including amortization of prior other-than-temporary impairments of $248,000.
(3)	As further described in Note 1 above, we deconsolidated CT Legacy Asset in the first quarter of 2012. As a result, the balances of accumulated other comprehensive income related to CT Legacy Asset, including those allocable to noncontrolling interests are no longer included in our consolidated financial statements.

Activity relating to noncontrolling interests

The following table describes activity relating to noncontrolling interests for the nine months ended September 30, 2012 (in thousands):

	Noncontrolling Interests

December 31, 2011		($18,515	)

Net income attributable to noncontrolling interests		81,038
Other comprehensive income attributable to noncontrolling interests		10
Distributions to noncontrolling interests		(8	)

September 30, 2012		$62,525

Basic and Diluted earnings per share, or EPS, based on the weighted average of both restricted and unrestricted class A common stock outstanding

The following table sets forth the calculation of Basic and Diluted earnings per share, or EPS, based on the weighted average of both restricted and unrestricted class A common stock outstanding, for the three and nine months ended September 30, 2012 (in thousands, except share and per share amounts):

	Three Months Ended September 30, 2012						Nine Months Ended September 30, 2012
	Net		Wtd. Avg.		Per Share		Net		Wtd. Avg.		Per Share
	Income		Shares		Amount		Income		Shares		Amount
Basic EPS:
Net income allocable to common stock		$6,999		23,173,426		$0.30		$75,835		22,969,103		$3.30
Effect of Dilutive Securities:
Warrants outstanding for the purchase of common stock		—		1,442,600				—		1,472,958
Diluted EPS:
Net income per share of common stock and assumed conversions		$6,999		24,616,026		$0.28		$75,835		24,442,061		$3.10

The following table sets forth the calculation of Basic and Diluted EPS based on the weighted average of both restricted and unrestricted class A common stock outstanding, for the three and nine months ended September 30, 2011 (in thousands, except share and per share amounts):

	Three Months Ended September 30, 2011						Nine Months Ended September 30, 2011
	Net		Wtd. Avg.		Per Share		Net		Wtd. Avg.		Per Share
	Income		Shares		Amount		Income		Shares		Amount
Basic EPS:
Net income allocable to common stock		$13,722		22,730,080		$0.60		$266,464		22,630,672		$11.77
Effect of Dilutive Securities:
Warrants outstanding for the purchase of common stock		—		1,391,893				—		1,426,702
Diluted EPS:
Net income per share of common stock and assumed conversions		$13,722		24,121,973		$0.57		$266,464		24,057,374		$11.08