Earnings per Share

3 Months Ended

Mar. 31, 2013

Earnings per Share

Earnings per Share

10. Earnings per Share

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):

	Three Months Ended March 31,
	2013	2012
Income from continuing operations	$12,976	$12,916
Less net income allocated to non-controlling interests	—	(11)
Less net income allocated to participating securities:
Nonforfeitable dividends on participating securities	(98)	(94)
Total net income allocated to participating securities	(98)	(94)
Less net income allocated to preferred stockholders:
Preferred stock dividends	(818)	(818)
Total net income allocated to preferred stockholders	(818)	(818)
Income from continuing operations available to common stockholders	12,060	11,993
Discontinued operations:
Gain on sale of assets, net	—	16
Total net income from discontinued operations	—	16
Net income available to common stockholders	12,060	12,009
Effect of dilutive securities:
Convertible preferred securities	—	—
Net income for diluted net income per share	$12,060	$12,009
Shares for basic net income per share	30,365	30,189
Effect of dilutive securities:
Stock options	34	45
Convertible preferred securities	—	—
Shares for diluted net income per share	30,399	30,234
Basic net income per share	$0.40	$0.40
Diluted net income per share (1)	$0.40	$0.40

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(1) For the three months ended March 31, 2013 and 2012, the Series C Cumulative Convertible Preferred Stock, the participating securities and the non-controlling interest have been excluded from the computation of diluted net income per share as such inclusion would be anti-dilutive.