XML 129 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share (Notes)
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share (EPS)
Earnings Per Share (EPS)

We calculate basic EPS by dividing the net income attributable to common stockholders for the period by the weighted average number of common shares outstanding during the period. We calculate diluted EPS by dividing the net income attributable to common stockholders and holders of equity in our consolidated operating partnership for the period by the weighted average number of common shares and dilutive instruments outstanding during the period using the treasury stock method. The table below presents the calculation of basic and diluted EPS:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Numerator (in thousands):
 

 
 

 
 

 
 

Net income attributable to common stockholders
$
13,635

 
$
6,527

 
$
25,717

 
$
11,913

Add back: Net income attributable to noncontrolling interests in our Operating Partnership
2,711

 
1,431

 
5,127

 
2,641

Numerator for diluted net income attributable to all equity holders
$
16,346

 
$
7,958

 
$
30,844

 
$
14,554

 
 
 
 
 
 
 
 
Denominator (in thousands):
 
 
 
 
 
 
 
Weighted average shares of common stock outstanding - basic
142,581

 
139,651

 
142,511

 
139,025

Effect of dilutive securities (1) :
 
 
 
 
 
 
 
Operating partnership units and vested long term incentive plan (LTIP) units
28,341

 
30,548

 
28,412

 
30,825

Stock options
3,736

 
2,392

 
3,461

 
2,106

Unvested LTIP units
594

 
602

 
553

 
525

Weighted average shares of common stock and common stock equivalents outstanding - diluted
175,252

 
173,193

 
174,937

 
172,481

 
 
 
 
 
 
 
 
Basic earnings per share:
 
 
 

 
 
 
 
Net income attributable to common stockholders per share
$
0.10

 
$
0.05

 
$
0.18

 
$
0.09

Diluted earnings per share:
 

 
 

 
 
 
 
Net income attributable to common stockholders per share
$
0.09

 
$
0.05

 
$
0.18

 
$
0.08


____________________________________________________

(1)
Diluted shares are calculated in accordance with GAAP, and represent ownership in our company through shares of common stock, units in our operating partnership, and other convertible equity instruments.