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Earnings Per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
Earnings per common share – basic is computed using net income attributable to common shareholders and the weighted average number of shares outstanding – basic. Earnings per common share – diluted includes the effect of potentially dilutive securities. Income from continuing operations attributable to common shareholders includes gain on sale of property in accordance with Securities and Exchange Commission guidelines. The components of earnings per common share – basic and diluted for the prior periods have been recast to conform with discontinued operations. Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):
 
Year Ended December 31,
 
2013
 
2012
 
2011
Numerator:
 
 
 
 
 
Continuing Operations:

 



Income (loss) from continuing operations
$
135,372

 
$
60,511

 
$
(12,202
)
Gain on sale of property
762

 
1,004

 
1,304

Net (income) loss attributable to noncontrolling interests
(5,545
)
 
(4,527
)
 
310

Dividends on preferred shares
(18,173
)
 
(34,930
)
 
(35,476
)
Redemption costs of preferred shares
(17,944
)
 
(2,500
)
 
—

Income (loss) from continuing operations attributable to common
shareholders – basic and diluted
$
94,472

 
$
19,558

 
$
(46,064
)
Discontinued Operations:
 
 
 
 
 
Income from discontinued operations
$
129,022

 
$
90,906

 
$
27,637

Net income attributable to noncontrolling interests
(39,349
)
 
(1,254
)
 
(1,428
)
Income from discontinued operations attributable to common
shareholders – basic and diluted
$
89,673

 
$
89,652

 
$
26,209

Denominator:
 
 
 
 
 
Weighted average shares outstanding - basic
121,269

 
120,696

 
120,331

Effect of dilutive securities:
 
 
 
 
 
Share options and awards
1,191

 
1,009

 
—

Weighted average shares outstanding - diluted
122,460

 
121,705

 
120,331


Anti-dilutive securities of our common shares, which are excluded from the calculation of earnings per common share – diluted, are as follows (in thousands):
 
Year Ended December 31,
 
2013
 
2012
 
2011
Share options (1)
1,929

 
2,354

 
3,158

Operating partnership units
1,554

 
1,578

 
1,617

Share options and awards
—

 
—

 
894

Total anti-dilutive securities
3,483

 
3,932

 
5,669

___________________
(1)
Exclusion results as exercise prices were greater than the average market price for each respective period.