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Earnings Per Common Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Common Share
Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per share (amounts in thousands except per share amounts):
 
 
Three Months Ended March 31,
 
2015
 
2014
Numerator for earnings per common share - basic and diluted:
 

 
 

Income from continuing operations
$
13,630

 
$
16,725

Preferred distributions
(6,981
)
 
(11,151
)
Income from continuing operations attributable to Equity Commonwealth common shareholders
6,649

 
5,574

Discontinued operations
—

 
3,723

Numerator for net income per share - basic and diluted
$
6,649

 
$
9,297

 
 
 
 
Denominator for earnings per common share - basic and diluted:
 
 
 
Weighted average number of common shares outstanding - basic
129,696

 
118,400

Weighted average number of common shares outstanding - diluted(1)
129,874

 
118,400

 
 
 
 
Earnings per share - basic and diluted:
 
 
 
Income from continuing operations attributable to Equity Commonwealth common shareholders
$
0.05

 
$
0.05

Discontinued operations
—

 
0.03

Net income per share - basic and diluted
$
0.05

 
$
0.08

 
 
 
 
Anti-dilutive securities:
 
 
 
Effect of Series D preferred shares; 6 1/2% cumulative convertible(2)
2,363

 
7,298


(1) As of March 31, 2015, we had granted RSUs to certain employees, officers, and the chairman of the Board of Trustees.  The RSUs contain both service and market-based vesting components.  None of the RSUs have vested.  If the market-based vesting component was measured as of March 31, 2015, 254 common shares would be issued to the RSU holders, and no shares would have been issued for the other periods presented.  Using a weighted average basis, 178 common shares are reflected in diluted earnings per share.
(2)
The Series D preferred shares are excluded from the diluted earnings per share calculation because including the Series D preferred shares would also require that the preferred distributions be added back to net income, resulting in anti-dilution during the periods presented.