Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

We calculate basic EPS by dividing the net income attributable to common stockholders for the year by the weighted average number of common shares outstanding during the year. We calculate diluted EPS by dividing the net income attributable to common stockholders and noncontrolling interests in our consolidated operating partnership for the year by the weighted average number of common shares and dilutive instruments outstanding during the year using the treasury stock method. The table below presents the calculation of basic and diluted EPS:

	Year Ended December 31,
	2014		2013		2012
Numerator (in thousands):
Net income attributable to common stockholders	$	44,621	$	45,311	$	22,942
Add back: Net income attributable to noncontrolling interests in our Operating Partnership	8,543		9,021		4,965
Numerator for diluted net income attributable to all equity holders	$	53,164	$	54,332	$	27,907
Denominator (in thousands):
Weighted average shares of common stock outstanding - basic	144,013		142,556		139,791
Effect of dilutive securities(1):
Operating partnership units and vested long term incentive plan (LTIP) units	27,574		28,381		30,251
Stock options	4,108		3,288		2,487
Unvested LTIP units	526		577		591
Weighted average shares of common stock and common stock equivalents outstanding - diluted	176,221		174,802		173,120
Basic earnings per share:
Net income attributable to common stockholders per share	$	0.31	$	0.32	$	0.16
Diluted earnings per share:
Net income attributable to common stockholders per share	$	0.30	$	0.31	$	0.16

____________________________________________________

(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.