Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 12. 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. Earnings per common share – diluted include 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. Earnings per common share – basic and diluted components for the periods indicated are as follows (in thousands):

	Three Months Ended March 31,
	2012			2011
Numerator:
Continuing Operations:
Income from continuing operations	$	16,373		$	11,113
Gain on sale of property		440			1,060
Net income attributable to noncontrolling interests		(1,441	)		(1,092	)
Preferred share dividends		(8,869	)		(8,869	)
Income from continuing operations attributable to common shareholders – basic and diluted	$	6,503		$	2,212
Discontinued Operations:
Income from discontinued operations attributable to common shareholders – basic and diluted	$	5,825		$	5,015
Denominator:
Weighted average shares outstanding – basic		120,481			120,142
Effect of dilutive securities:
Share options and awards		960			959
Weighted average shares outstanding – diluted		121,441			121,101

Anti-dilutive securities of our common shares, which are excluded from the calculation of net income per common share – diluted are as follows (in thousands):

	Three Months Ended March 31,
	2012		2011
Share options (1)		3,147		2,873
Operating partnership units		1,584		1,644
Total anti-dilutive securities		4,731		4,517

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