Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2011

Earnings (Loss) Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

13. EARNINGS (LOSS) PER SHARE

We compute earnings (loss) per share in accordance with the requirements of the Earnings Per Share Topic. Under the Earnings Per Share Topic, basic earnings (loss) per share is computed using the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed using the weighted-average number of common and common equivalent shares of stock outstanding during the periods utilizing the treasury stock method for stock options and unvested restricted stock.

The following is a reconciliation between weighted-average shares used in the basic and diluted earnings (loss) per share calculations:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(In thousands, except per share amounts)	2011			2010			2011			2010
Numerator for loss per share — basic:
Loss from continuing operations	$	(6,771	)	$	(10,976	)	$	(26,305	)	$	(32,220	)
Less: Preferred dividends		(2,897	)		(2,897	)		(5,794	)		(5,794	)
Loss from continuing operations attributable to Grubb & Ellis Company common shareowners		(9,668	)		(13,873	)		(32,099	)		(38,014	)
Loss from discontinued operations attributable to Grubb & Ellis Company common shareowners		(7,946	)		(8,219	)		(7,096	)		(11,027	)
Net loss attributable to noncontrolling interests		384			1,736			779			2,007
Net loss attributable to Grubb & Ellis Company common shareowners	$	(17,230	)	$	(20,356	)	$	(38,416	)	$	(47,034	)
Denominator for loss per share — basic:
Weighted-average number of common shares outstanding		65,928			64,644			65,798			64,503
Loss per share — basic:
Loss from continuing operations attributable to Grubb & Ellis Company common shareowners	$	(0.14	)	$	(0.18	)	$	(0.47	)	$	(0.56	)
Loss from discontinued operations attributable to Grubb & Ellis Company common shareowners		(0.12	)		(0.13	)		(0.11	)		(0.17	)
Net loss per share attributable to Grubb & Ellis Company common shareowners	$	(0.26	)	$	(0.31	)	$	(0.58	)	$	(0.73	)
Loss per share — diluted(1):
Loss from continuing operations attributable to Grubb & Ellis Company common shareowners	$	(0.14	)	$	(0.18	)	$	(0.47	)	$	(0.56	)
Loss from discontinued operations attributable to Grubb & Ellis Company common shareowners		(0.12	)		(0.13	)		(0.11	)		(0.17	)
Net loss per share attributable to Grubb & Ellis Company common shareowners	$	(0.26	)	$	(0.31	)	$	(0.58	)	$	(0.73	)
Total participating shareowners: (as of the end of the period used to allocate earnings)
Preferred shares (as if converted to common shares)		58,527			58,527			58,527			58,527
Unvested restricted stock		4,113			5,184			4,113			5,184
Unvested phantom stock		3,668			4,839			3,668			4,839
Total participating shares		66,308			68,550			66,308			68,550
Total vested common shares outstanding		65,982			64,741			65,982			64,741

(1) Excluded from the calculation of diluted weighted-average common shares as of June 30, 2011 and 2010 were the following securities, the effect of which would be anti-dilutive, because an operating loss was reported or the option exercise price was greater than the average market price of the common shares for the respective periods:

	June 30,		June 30,
(In thousands)	2011		2010
Outstanding unvested restricted stock		4,113		5,184
Outstanding options to purchase shares of common stock		291		442
Outstanding unvested shares of phantom stock		3,668		4,839
Convertible preferred shares (as if converted to common shares)		58,527		58,527
Convertible notes (as if converted to common shares)		14,036		14,036
Outstanding warrants		6,839		—
Total		87,474		83,028