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Share Data
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Per Share Data
3. Share Data
Basic earnings per share are computed using net income attributable to common shareholders and the weighted average number of common shares outstanding. Diluted earnings per share reflect common shares issuable from the assumed conversion of common share options and share awards granted and units convertible into common shares. Only those items having a dilutive impact on our basic earnings per share are included in diluted earnings per share. Our unvested share-based awards are considered participating securities and are reflected in the calculation of basic and diluted earnings per share using the two-class method. The number of common share equivalent securities excluded from the diluted earnings per share calculation was approximately 2.3 million, 4.0 million, and 5.1 million for the years ended December 31, 2012, 2011, and 2010, respectively. These securities, which include common share options and share awards granted and units convertible into common shares, were excluded from the diluted earnings per share calculation as they are anti-dilutive.
The following table presents information necessary to calculate basic and diluted earnings per share for the periods indicated:
 
 
 
Year Ended December 31,
(in thousands, except per share amounts)
 
2012
 
2011
 
2010
Earnings per share calculation – basic
 
 
 
 
 
 
Income (loss) from continuing operations attributable to common shareholders
 
$
161,665

 
$
13,172

 
$
(295
)
Amount allocated to participating securities
 
(2,784
)
 
(551
)
 
(265
)
Income (loss) from continuing operations attributable to common shareholders, net of amount allocated to participating securities
 
158,881

 
12,621

 
(560
)
Income from discontinued operations, including gain on sale, attributable to common shareholders
 
121,725

 
36,207

 
23,511

Net income attributable to common shareholders, as adjusted
 
$
280,606

 
$
48,828

 
$
22,951

Income (loss) from continuing operations attributable to common shareholders,as adjusted – per share
 
$
1.90

 
$
0.17

 
$
(0.01
)
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share
 
1.45

 
0.50

 
0.34

Net income attributable to common shareholders, as adjusted – per share
 
$
3.35

 
$
0.67

 
$
0.33

Weighted average number of common shares outstanding – basic
 
83,772

 
72,756

 
68,608

Earnings per share calculation – diluted
 
 
 
 
 
 
Income (loss) from continuing operations attributable to common shareholders, net of amount allocated to participating securities
 
$
158,881

 
$
12,621

 
$
(560
)
Income allocated to common units from continuing operations
 
1,984

 
—

 
—

Income (loss) from continuing operations attributable to common shareholders, as adjusted
 
160,865

 
12,621

 
(560
)
Income from discontinued operations, including gain on sale, attributable to common shareholders
 
121,725

 
36,207

 
23,511

Net income attributable to common shareholders, as adjusted
 
$
282,590

 
$
48,828

 
$
22,951

Income (loss) from continuing operations attributable to common shareholders, as adjusted – per share
 
$
1.88

 
$
0.17

 
$
(0.01
)
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share
 
1.42

 
0.49

 
0.34

Net income attributable to common shareholders, as adjusted – per share
 
$
3.30

 
$
0.66

 
$
0.33

Weighted average number of common shares outstanding – basic
 
83,772

 
72,756

 
68,608

Incremental shares issuable from assumed conversion of:
 
 
 
 
 
 
Common share options and share awards granted
 
647

 
706

 
—

Common units
 
1,137

 
—

 
—

Weighted average number of common shares outstanding – diluted
 
85,556

 
73,462

 
68,608