EQUITY (Tables)

12 Months Ended

Dec. 31, 2012

Dividends declared and paid on shares of common stock and noncontrolling common units

The following table lists the dividends declared and paid on our shares of common stock and noncontrolling common units for the years ended December 31, 2012 and 2011:

Period	Amount per Share/Unit		Period Covered	Dividend Paid Date
First Quarter 2011	$	0.17	January 19, 2011 to March 31, 2011		March 31, 2011
Second Quarter 2011	$	0.21	April 1, 2011 to June 30, 2011		June 30, 2011
Third Quarter 2011	$	0.21	July 1, 2011 to September 30, 2011		September 30, 2011
Fourth Quarter 2011	$	0.21	October 1, 2011 to December 31, 2011		December 29, 2011
First Quarter 2012	$	0.21	January 1, 2012 to March 31, 2012		March 30, 2012
Second Quarter 2012	$	0.21	April 1, 2012 to June 30, 2012		June 29, 2012
Third Quarter 2012	$	0.21	July 1, 2012 to September 30, 2012		September 28, 2012
Fourth Quarter 2012	$	0.21	October 1, 2012 to December 31, 2012		December 28, 2012

Summary of Income Tax Status of Dividends Per Share Paid

A summary of the income tax status of dividends per share paid is as follows:

	Year Ended December 31,
	2012					2011
	Per Share		%			Per Share		%
Ordinary income	$	0.56		66.7	%	$	0.22		27.5	%
Return of capital		0.28		33.3	%		0.58		72.5	%
Total	$	0.84		100.0	%	$	0.80		100.0	%

Activity of restricted stock awards

The following table summarizes the activity of non-vested restricted stock awards during the years ended December 31, 2012 and 2011:

	2012					2011
	Units			Weighted Average Grant Date Fair Value		Units			Weighted Average Grant Date Fair Value
Balance at beginning of year		628,712		$	15.43		—		$	—
Granted		10,015			22.50		630,663			15.43
Vested		(3,252	)		20.49		—			—
Forfeited		(2,253	)		12.52		(1,951	)		20.50
Balance at end of year		633,222		$	15.64		628,712		$	15.43

Computation of basic and diluted EPS

The computation of basic and diluted EPS is presented below (dollars in thousands, except share and per share amounts):

	Year Ended December 31,
	2012			2011
NUMERATOR
Income from continuing operations	$	13,949		$	13,671
Less: Net income attributable to restricted shares		(529	)		(482	)
Plus: Loss from continuing operations attributable to Predecessor’s noncontrolling interests in consolidated real estate entities		—			2,455
Less: Income from continuing operations attributable to Predecessor’s controlled owners’ equity		—			(16,962	)
Plus: Loss from continuing operations attributable to unitholders in the Operating Partnership		(4,239	)		425
Income (loss) from continuing operations attributable to American Assets Trust, Inc. common stockholders—basic		9,181			(893	)
Plus: Results from discontinued operations attributable to American Assets Trust, Inc. common stockholders		25,758			3,810
Net income attributable to common stockholders—basic	$	34,939		$	2,917
Income (loss) from continuing operations attributable to American Assets Trust, Inc. common stockholders—basic	$	9,181		$	(893	)
Less: Income (loss) from continuing operations attributable to unitholders in the Operating Partnership		4,239			(425	)
Income (loss) from continuing operations attributable to common stockholders—diluted		13,420			(1,318	)
Plus: Results from discontinued operations attributable to American Assets Trust, Inc. common stockholders		25,758			3,810
Plus: Results from discontinued operations attributable to unitholders in the Operating Partnership		11,894			1,813
Net income attributable to common stockholders—diluted	$	51,072		$	4,305
DENOMINATOR
Weighted average common shares outstanding—basic		38,736,113			36,748,806
Effect of dilutive securities—conversion of Operating Partnership units		18,317,796			17,471,001
Weighted average common shares outstanding—diluted		57,053,909			54,219,807
Earnings (loss) per common share—basic
Continuing operations	$	0.24		$	(0.02	)
Discontinued operations		0.66			0.10
	$	0.90		$	0.08
Earnings (loss) per common share—diluted
Continuing operations	$	0.24		$	(0.02	)
Discontinued operations		0.66			0.10
	$	0.90		$	0.08