Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Results of Operations [Abstract]

Quarterly Results of Operations (Unaudited)

20. Quarterly Results of Operations (Unaudited)

The following is a summary of our unaudited quarterly results of operations for the years ended December 31, 2011 and 2010 (in thousands, except per share data). The sum of individual quarterly amounts may not agree to the annual amounts included in the consolidated statements of income due to rounding.

		Year Ended December 31, 2011
		1st Quarter		2nd Quarter		3rd Quarter⁽²⁾		4th Quarter⁽³⁾
Revenues - as reported		$	255,477	$	381,059	$	384,786	$	407,391
Discontinued operations			(4,157)		(1,675)		(1,723)		-
Revenues - as adjusted⁽¹⁾		$	251,320	$	379,384	$	383,063	$	407,391
Net income (loss) attributable to common stockholders		$	23,372	$	69,847	$	36,607	$	27,282
Net income (loss) attributable to common stockholders per share:
	Basic	$	0.15	$	0.40	$	0.21	$	0.15
	Diluted		0.15		0.39		0.21		0.15

		Year Ended December 31, 2010
		1st Quarter		2nd Quarter		3rd Quarter⁽⁴⁾		4th Quarter
Revenues - as reported		$	152,759	$	163,131	$	176,146	$	202,456
Discontinued operations			(11,361)		(10,992)		(8,809)		(6,033)
Revenues - as adjusted⁽¹⁾		$	141,398	$	152,139	$	167,337	$	196,423
Net income attributable to common stockholders		$	25,812	$	45,646	$	(4,563)	$	39,988
Net income attributable to common stockholders per share:
	Basic	$	0.21	$	0.37	$	(0.04)	$	0.29
	Diluted		0.21		0.37		(0.04)		0.29


(1) We have reclassified the income attributable to the properties sold prior to or held for sale at December 31, 2011 to discontinued operations. See Note 5.
(2) The decreases in net income and amounts per share are primarily attributable to gains on sales of real estate totaling $30,224,000 for the second quarter as compared to $185,000 for the third quarter.
(3) The decreases in net income and amounts per share are primarily attributable to impairment charges of $11,992,000.
(4) The decreases in net income and amounts per share are primarily attributable to provisions for loan losses ($28,918,000) and transaction costs ($18,835,000).

- Definition

This element can be used to disclose the entire quarterly financial data disclosure in the annual financial statements as a single block of text. The disclosure includes a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. Alternatively, the details of this disclosure can be reported using the elements in this group, or by using other taxonomy elements and applying the appropriate quarterly date and period contexts when creating an instance document. For example, the element for "Interest and Dividend Income, Operating" may be used by financial institutions from the Statement of Income, applying the appropriate quarterly date and period context when creating an instance document.

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