Net Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2012

Net Income Loss Per Common Share [Abstract]

Net Income (Loss) Per Common Share

Note B – Net Income (Loss) Per Common Share

Basic earnings per share ("EPS") are computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding for the period. In arriving at net income (loss) attributable to common stockholders, preferred stock dividends are deducted.  Diluted EPS reflects the potential dilution that could occur if share equivalents such as employee stock options, restricted shares and deferred incentive share units were exercised or converted into common stock that then shared in the earnings of Parkway.

The computation of diluted EPS is as follows (in thousands, except per share data):

	Three Months Ended September 30						Nine Months Ended September 30
	2012			2011			2012		2011
Numerator:
Basic and diluted net income (loss)           attributable to common stockholders	$	(582	)	$	(55,738	)	$	464	$	(77,193	)
Basic weighted average shares		36,487			21,502			27,199		21,489
Dilutive weighted average shares		36,487			21,502			27,199		21,489
Diluted net income (loss) per share attributable to Parkway Properties, Inc.	$	(0.02	)	$	(2.59	)	$	0.02	$	(3.59	)

The computation of diluted EPS for the three months and nine months ended September 30, 2012 and 2011 did not include the effect of employee stock options, deferred incentive share units, and restricted shares as their inclusion would have been anti-dilutive.

During the nine months ended September 30, 2012, the Company issued or converted 17.8 million shares of common stock related to the investment by TPG and its affiliates ("TPG") in the Company.  For more information on TPG's investment see "Note M – TPG Securities Purchase Agreement".