Shareholders' Equity

3 Months Ended

Mar. 31, 2012

Shareholders' Equity

Shareholders' Equity

Note 7.  Shareholders’ Equity

The following is a reconciliation of changes in our shareholders’ equity for the three months ended March 31, 2012:

	Shareholders’			Shareholders’
	Equity			Equity
	Attributable to			Attributable to		Total
	CommonWealth			Noncontrolling		Shareholders’
	REIT			Interest		Equity
Balance at December 31, 2011	$	3,568,517		$	—	$	3,568,517
Net income	23,680			894		24,574
Other comprehensive income:
Unrealized loss on derivative instrument	(37		)	—		(37		)
Foreign currency translation adjustments	4,528			—		4,528
Decrease in share of investees other comprehensive loss	(1		)	—		(1		)
Total comprehensive income	28,170			894		29,064
Issuance of shares of subsidiary, net	(23,758		)	204,712		180,954
Distributions	(55,505		)	—		(55,505		)
Balance at March 31, 2012	$	3,517,424		$	205,606	$	3,723,030

Distributions:

On February 15, 2012, we paid a distribution on our series C preferred shares of $0.4453 per share, or $2,672, a distribution on our series D preferred shares of $0.4063 per share, or $6,167, and a distribution on our series E preferred shares of $0.4531 per share, or $4,984, all of which were paid to shareholders of record as of February 1, 2012.

On February 21, 2012, we paid a distribution on our common shares of $0.50 per share, or $41,861, to shareholders of record on January 20, 2012.

In April 2012, we declared a distribution of $0.50 per common share, or approximately $41,900, to be paid on or about May 24, 2012 to shareholders of record on April 23, 2012.  We also announced a distribution on our series C preferred shares of $0.4453 per share, or $2,672, a distribution on our series D preferred shares of $0.4063 per share, or $6,167, and a distribution on our series E preferred shares of $0.4531 per share, or $4,984, all of which we expect to pay on or about May 15, 2012 to our preferred shareholders of record as of May 1, 2012.