Shareholders' Equity

6 Months Ended

Jun. 30, 2012

Shareholders' Equity

Shareholders' Equity

Note 8.  Shareholders’ Equity

The following is a reconciliation of changes in our shareholders’ equity for the six months ended June 30, 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	39,745			5,415		45,160
Other comprehensive income:
Unrealized loss on derivative instrument	(2,441		)	—		(2,441		)
Foreign currency translation adjustments	1,081			—		1,081
Decrease in share of investees other comprehensive loss	(4		)	—		(4		)
Total comprehensive income	38,381			5,415		43,796
Issuance of shares of subsidiary, net	(23,856		)	204,670		180,814
Share grants	187			—		187
Distributions	(111,188		)	—		(111,188		)
Balance at June 30, 2012	$	3,472,041		$	210,085	$	3,682,126

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.

On May 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 May 1, 2012.

On May 24, 2012, we paid a distribution on our common shares of $0.50 per share, or $41,861, to shareholders of record on April 23, 2012.

In July 2012, we declared a distribution of $0.50 per common share, or approximately $41,900, to be paid on or about August 24, 2012 to shareholders of record on July 26, 2012.  We also announced in July 2012 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 August 15, 2012 to our preferred shareholders of record as of August 1, 2012.

Also in July 2012, SIR declared a distribution of $0.49 per SIR common share, or approximately $15,300, to be paid on or about August 20, 2012 to SIR shareholders of record on July 24, 2012.  This distribution includes a regular quarterly distribution of $0.40 per SIR common share ($1.60 per SIR common share per year) with respect to the quarter ended June 30, 2012, plus an additional $0.09 per SIR common share reflecting SIR’s first 20 days as a public company during the prior quarter.

Share Issuances:

On May 8, 2012, pursuant to our equity compensation plan we issued 2,000 common shares of beneficial interest, par value $0.01 per share, valued at $18.74 per share, the closing price of our common shares on the New York Stock Exchange, or NYSE, on that day, to each of our five then Trustees as part of their annual compensation.  In addition, on July 18, 2012, pursuant to our equity compensation plan we issued 2,000 common shares of beneficial interest, par value $0.01 per share, valued at $19.27 per share, the closing price of our common shares on the NYSE on that day, to a new Trustee, who was elected to our Board that day, as part of his annual compensation.