BENEFICIARIES’ EQUITY OF THE PARENT COMPANY

Earnings per Share (EPS)

The following tables detail the number of shares and net income used to calculate basic and diluted earnings per share (in thousands, except share and per share amounts; results may not add due to rounding):



	Year ended December 31,
	2012						2011						2010
	Basic			Diluted			Basic			Diluted			Basic			Diluted
Numerator
Loss from continuing operations	$	(30,154	)	$	(30,154	)	$	(18,965	)	$	(18,965	)	$	(37,325	)	$	(37,325	)
Net (income) loss from continuing operations attributable to non-controlling interests	736			736			769			769			946			946
Amount allocable to unvested restricted shareholders	(376		)	(376		)	(505		)	(505		)	(512		)	(512		)
Preferred share dividends	(10,405		)	(10,405		)	(7,992		)	(7,992		)	(7,992		)	(7,992		)
Preferred share redemption charge	(4,052		)	(4,052		)	—			—			—			—
Loss from continuing operations available to common shareholders	(44,251		)	(44,251		)	(26,693		)	(26,693		)	(44,883		)	(44,883		)
Income from discontinued operations	36,683			36,683			14,250			14,250			19,719			19,719
Discontinued operations attributable to non-controlling interests	(670		)	(670		)	(553		)	(553		)	(414		)	(414		)
Discontinued operations attributable to common shareholders	36,013			36,013			13,697			13,697			19,305			19,305
Net loss attributable to common shareholders	$	(8,238	)	$	(8,238	)	$	(12,996	)	$	(12,996	)	$	(25,578	)	$	(25,578	)
Denominator
Weighted-average shares outstanding	143,257,097			143,257,097			135,444,424			135,444,424			131,743,275			131,743,275
Earnings per Common Share:
Loss from continuing operations attributable to common shareholders	$	(0.31	)	$	(0.31	)	$	(0.20	)	$	(0.20	)	$	(0.34	)	$	(0.34	)
Discontinued operations attributable to common shareholders	0.25			0.25			0.10			0.10			0.15			0.15
Net loss attributable to common shareholders	$	(0.06	)	$	(0.06	)	$	(0.10	)	$	(0.10	)	$	(0.19	)	$	(0.19	)