3. Per 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 2.9 million and 3.3 million for the three months ended September 30, 2013 and 2012, respectively, and was approximately 2.1 million and 2.4 million for the nine months ended September 30, 2013 and 2012, 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:



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands, except per share amounts)	2013			2012			2013			2012
Earnings per share calculation – basic
Income from continuing operations attributable to common shareholders	$	34,662		$	26,814		$	111,791		$	98,391
Amount allocated to participating securities	(623		)	(288		)	(1,958		)	(1,387		)
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	34,039		$	26,526		$	109,833		$	97,004
Income from discontinued operations, including gain on sale, attributable to common shareholders	36,058			3,889			94,577			42,833
Net income attributable to common shareholders, as adjusted	$	70,097		$	30,415		$	204,410		$	139,837

Income from continuing operations attributable to common shareholders, as adjusted – per share	$	0.39		$	0.31		$	1.26		$	1.17
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share	0.41			0.05			1.09			0.52
Net income attributable to common shareholders, as adjusted – per share	$	0.80		$	0.36		$	2.35		$	1.69

Weighted average number of common shares outstanding – basic	87,449			85,631			87,117			82,923

Earnings per share calculation – diluted
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities	$	34,039		$	26,526		$	109,833		$	97,004
Income allocated to common units from continuing operations	—			—			947			985
Income from continuing operations attributable to common shareholders, as adjusted	$	34,039		$	26,526		$	110,780		$	97,989
Income from discontinued operations, including gain on sale, attributable to common shareholders	36,058			3,889			94,577			42,833
Income from discontinued operations allocated to common units	—			—			1,778			852
Net income attributable to common shareholders, as adjusted	$	70,097		$	30,415		$	207,135		$	141,674



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands, except per share amounts)	2013		2012		2013		2012
Earnings per share calculation – diluted (continued)
Income from continuing operations attributable to common shareholders, as adjusted – per share	$	0.39	$	0.31	$	1.25	$	1.16
Income from discontinued operations, including gain on sale, attributable to common shareholders – per share	0.41		0.04		1.09		0.51
Net income attributable to common shareholders, as adjusted – per share	$	0.80	$	0.35	$	2.34	$	1.67

Weighted average number of common shares outstanding – basic	87,449		85,631		87,117		82,923
Incremental shares issuable from assumed conversion of:
Common share options and share awards granted	453		662		497		655
Common units	—		—		815		1,116
Weighted average number of common shares outstanding – diluted	87,902		86,293		88,429		84,694