Earnings per Share

6 Months Ended

Jun. 30, 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 June 30,		Six Months Ended June 30,
	2013	2012	2013	2012
Income from continuing operations	$13,890	$13,092	$26,841	$25,986
Less net income allocated to non-controlling interests	—	(10)	—	(21)
Less net income allocated to participating securities:
Nonforfeitable dividends on participating securities	(91)	(91)	(189)	(185)
Total net income allocated to participating securities	(91)	(91)	(189)	(185)
Less net income allocated to preferred stockholders:
Preferred stock dividends	(818)	(818)	(1,636)	(1,636)
Total net income allocated to preferred stockholders	(818)	(818)	(1,636)	(1,636)
Income from continuing operations available to common stockholders	12,981	12,173	25,016	24,144
Discontinued operations:
Net Income from discontinued operations	27	21	52	43
(Loss) gain on sale of assets, net	(1,014)	—	(1,014)	16
Total net (loss) income from discontinued operations	(987)	21	(962)	59
Net income available to common stockholders	11,994	12,194	24,054	24,203
Effect of dilutive securities:
Convertible preferred securities	—	—	—	—
Net income for diluted net income per share	$11,994	$12,194	$24,054	$24,203
Shares for basic net income per share	32,913	30,213	31,645	30,201
Effect of dilutive securities:
Stock options	33	45	34	45
Convertible preferred securities	—	—	—	—
Shares for diluted net income per share	32,946	30,258	31,679	30,246
Basic net income per share	$0.36	$0.40	$0.76	$0.80
Diluted net income per share (1)	$0.36	$0.40	$0.76	$0.80

(1) For the three and six months ended June 30, 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.