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Earnings per Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Earnings per Share and Equity Transactions
Earnings per Share and Equity Transactions
Basic earnings per share ("EPS") are computed using the two-class method by dividing net income by the weighted average number of common shares outstanding for the period (the "common shares"). Diluted EPS is computed using the treasury method if more dilutive, by dividing net income by the common shares plus potential common shares issuable upon exercising options or other contracts. The following table reconciles the amounts used in calculating basic and diluted income per share (in thousands, except weighted average share and per share amounts):
 
Three months ended
 
Nine months ended
 
September 30,
 
September 30,
 
2016
 
2015
 
2016
 
2015
Net income (loss) from continuing operations
$
28,224

 
$
(100,659
)
 
$
62,853

 
$
(48,880
)
Less: Dividends declared on common stock
(14,550
)
 
(28,010
)
 
(70,592
)
 
(110,601
)
Less: Dividends declared on unvested restricted stock units
(76
)
 
—

 
(164
)
 
—

Less: Undistributed income allocated to unvested shares
(49
)
 
(65
)
 
—

 
(65
)
Undistributed income (loss)
$
13,549

 
$
(128,734
)
 
$
(7,903
)
 
$
(159,546
)
Add: Dividends on common stock
14,550

 
28,010

 
70,592


110,601

Distributed and undistributed income (loss) from continuing operations, basic and diluted
$
28,099

 
$
(100,724
)
 
$
62,689


$
(48,945
)
Income from discontinued operations allocated to common stockholders
$
9,095

 
$
5,012

 
$
163,574

 
$
21,123

 
 
 
 
 
 
 
 
Weighted average shares outstanding, basic and diluted
862,212,317

 
861,824,777

 
862,207,903

 
861,824,777

 
 
 
 
 
 
 
 
Income (loss) from continuing operations allocated to common shareholders per share
$
0.03

 
$
(0.12
)
 
$
0.07

 
$
(0.06
)
Income from discontinued operations allocated to common shareholders per share
$
0.01

 
$
0.01

 
$
0.19

 
$
0.02